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2006-06-22Buch DOI: 10.18452/3979
The Influence of Information Costs on the Integration of Financial Markets
dc.contributor.authorVolckart, Oliver
dc.date.accessioned2017-06-15T23:12:33Z
dc.date.available2017-06-15T23:12:33Z
dc.date.created2006-07-05
dc.date.issued2006-06-22
dc.identifier.issn1860-5664
dc.identifier.urihttp://edoc.hu-berlin.de/18452/4631
dc.description.abstractIn this paper, the influence of information costs on the integration of Northern European financial markets between ca. 1350 and 1560 is explored. The approach is based on splitting information costs into their constitutive components and on measuring one of these, i.e. the costs of transmitting information, which have particular importance for market integration. The analysis has two main results: First, under pre-industrial conditions, when transmitting information was extremely labour intensive and very little capital intensive, transmission costs can be largely identified with labour costs, and were subject to the same influences. Next, the integration of financial markets depended crucially on the level of transmission costs, high costs being strongly and significantly correlated with weak integration, while lower costs favoured convergence.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectintegrationeng
dc.subjectFinancial marketseng
dc.subjectinformation costseng
dc.subjecteconomic historyeng
dc.subject.ddc330 Wirtschaft
dc.titleThe Influence of Information Costs on the Integration of Financial Markets
dc.typebook
dc.subtitleNorthern Europe, 1350-1560
dc.identifier.urnurn:nbn:de:kobv:11-10065846
dc.identifier.doihttp://dx.doi.org/10.18452/3979
dc.subject.dnb17 Wirtschaft
local.edoc.container-titleSonderforschungsbereich 649: Ökonomisches Risiko
local.edoc.pages72
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2006
local.edoc.container-issue49
local.edoc.container-year2006
local.edoc.container-erstkatid2195055-6

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