The eabh (European Association for Banking History) Working Papers Series (eabh Papers), launched in 2014, gives scholars in banking, financial, business, and economic history and related fields the opportunity to distribute their research-in-progress.
The eabh announce publication of eabh paper 2020/05
Regional market integration and
the emergence of a Scottish national grain market
Daniel Cassidy and Nick Hanley
This article examines the integration of regional Scottish grain markets from the early seventeenth century until the end of the long eighteenth century in 1815. Using a dynamic factor model, the authors find that market efficiency increased substantially in regional Scottish markets from the late seventeenth century. This analysis suggests that sub-national markets existed in the late seventeenth century, in the east and west of the country, but merged in the eighteenth century to form a unified national grain market.
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