Cookies?
Library Header Image
LSE Research Online LSE Library Services

The utility of a common coinage: currency unions and the integration of money markets in late Medieval Central Europe

Boerner, Lars and Volckart, Oliver (2011) The utility of a common coinage: currency unions and the integration of money markets in late Medieval Central Europe. Explorations in Economic History, 48 (1). pp. 53-65. ISSN 0014-4983

Full text not available from this repository.

Abstract

This paper employs a new method and dataset to estimate the effect of currency unions on the integration of financial markets in late Medieval Central Europe. The analysis reveals that membership in a union was significantly correlated with well-integrated markets. We also examine whether currency unions were endogenous. Our results indicate that where unions were established, markets had been significantly better integrated already in the preceding period. In addition, we show that currency unions created by autonomous merchant towns were better integrated than unions implemented by territorial rulers. The overall implication is that monetary diversity was a corollary of weakly integrated markets in late Medieval Central Europe.

Item Type: Article
Official URL: http://www.elsevier.com/wps/find/journaldescriptio...
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
Journal of Economic Literature Classification System: N - Economic History > N2 - Financial Markets and Institutions > N23 - Europe: Pre-1913
Sets: Departments > Economic History
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 11 Feb 2011 09:50
URL: http://eprints.lse.ac.uk/32476/

Actions (login required)

Record administration - authorised staff only Record administration - authorised staff only