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The organisation of markets as a key factor in the rise of Holland from the fourteenth to the sixteenth century: a test case for an institutional approach

Published online by Cambridge University Press:  05 December 2012

BAS VAN BAVEL
Affiliation:
Utrecht University.
JESSICA DIJKMAN
Affiliation:
Utrecht University.
ERIKA KUIJPERS
Affiliation:
Leiden University.
JACO ZUIJDERDUIJN
Affiliation:
Utrecht University.

Abstract

Although the importance of New Institutional Economics and the institutional approach for understanding pre-industrial economic development and the early growth of markets are widely accepted, it has proven to be difficult to assess more directly the effects of institutions on the functioning of markets. This paper uses empirical research on the rise of markets in late medieval Holland to illuminate some of the factors behind the development of the specific institutional framework of markets for land, labour, capital and goods, and some effects of these institutions on the actual functioning of the markets. The findings are corroborated by a tentative comparison with the functioning of markets in Flanders and eastern England.

L'organisation des marchés comme facteur-clé dans la croissance de la hollande du quatorzième au seizième siècle: un scénario de test pour une approche institutionnelle

Malgré l'importance incontestée de la Nouvelle Économie Institutionnelle et du recours à l'approche institutionnelle pour comprendre le développement économique préindustriel et la croissance précoce des marchés, il se révèle bien difficile d'évaluer plus directement tous les effets des institutions sur le fonctionnement des marchés. Dans le cadre de cet article, nous avons recours à une recherche empirique pour étudier la croissance des marchés en Hollande du bas moyen âge pour éclairer certains des facteurs qui autorisèrent le développement d'un cadre institutionnel spécifique concernant aussi bien le marché de la terre que celui du travail, celui des capitaux et celui des marchandises et certains des effets qu'eurent ces institutions sur le fonctionnement réel des marchés. Les résultats du test sont confirmés par un essai de comparaison avec le fonctionnement des marchés en Flandre et Angleterre de l'Est.

Die marktorganisation als schlüsselfaktor für den aufstieg hollands vom 14. bis zum 16. jahrhundert: testlauf für einen institutionellen forschungsansatz

Obwohl die Bedeutung der Neuen Institutionenökonomik und des institutionellen Ansatzes für das Verständnis der vorindustriellen Wirtschaftsentwicklung und das frühe Wachstum von Märkten allgemein anerkannt sind, hat es sich doch als schwierig erwiesen, die Wirkungen von Institutionen auf die Funktionsweise von Märkten genauer zu erfassen. Dieser Beitrag fußt auf empirischer Forschung über die Herausbildung von Märkten im spätmittelalterlichen Holland, um einige der Faktoren, welche die Entwicklung spezifischer institutioneller Rahmenbedingungen der Märkte für Land, Arbeit, Kapital und Güter beeinflussten, sowie einige Auswirkungen dieser Institutionen auf die tatsächliche Funktionsweise der Märkte zu beleuchten. Die Ergebnisse lassen sich durch einen vorläufigen Vergleich mit der Funktionsweise von Märkten in Flandern und Ostengland untermauern.

Type
Research Article
Copyright
Copyright © Cambridge University Press 2012

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71 Zuijderduijn, Medieval capital markets, 231–42.

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77 For the figures underlying this estimate, see Dijkman, Shaping medieval markets, 317–25.

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86 Calculated using the data provided by Whittle, The development, 244.

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98 Van Zanden, ‘Taking the measure’.

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The organisation of markets as a key factor in the rise of Holland from the fourteenth to the sixteenth century: a test case for an institutional approach
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The organisation of markets as a key factor in the rise of Holland from the fourteenth to the sixteenth century: a test case for an institutional approach
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The organisation of markets as a key factor in the rise of Holland from the fourteenth to the sixteenth century: a test case for an institutional approach
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