Intensive growth in the 11th century Byzantine economy: evidence from southern Greece and Byzantine Italy

Dietze-Hermosa, David (2024) Intensive growth in the 11th century Byzantine economy: evidence from southern Greece and Byzantine Italy. Economic History Student Working Papers (35). Department of Economic History, The London School of Economics and Political Science, London, UK.

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Abstract

This paper approaches the discussion of the Byzantine economic revival of the 11th century using a qualitative comparative methodology (S Greece and S Italy) paired with descriptive statistics, and by including the heretofore under-discussed economy of Byzantine Italy. By doing so, it reveals and confirms the economic principles, associated with the Smithian growth framework, underlying said economic revival, namely, extensive economic growth followed by intensive economic growth brought on by demand-induced industrialisation and specialisation. This process was facilitated in the Byzantine empire by elite investment, monetisation and, in latter decades of the 11th century, trade liberalisation. This is evident with both southern Greece and southern Italy’s experiences with agricultural (especially olive oil and wine) and sericultural specialisation, and with the development of the southern Greek textile (especially silk) and pottery industries. Thus, the Byzantine economy is confirmed as experiencing sustained Smithian growth in the 11th century.

Item Type:	Monograph (Working Paper)
Official URL:	https://www.lse.ac.uk/Economic-History/Working-Pap...
Additional Information:	© 2024 The Author
Divisions:	Economic History
Subjects:	H Social Sciences > HC Economic History and Conditions
JEL classification:	N - Economic History > N1 - Macroeconomics and Monetary Economics; Growth and Fluctuations > N14 - Europe: 1913-
Date Deposited:	03 Feb 2025 11:15
Last Modified:	04 Feb 2025 00:13
URI:	http://eprints.lse.ac.uk/id/eprint/127150

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