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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/46517
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| Title: | | What lessons for economic development can we draw from the Champagne fairs?  |
| Authors: | | Edwards, Jeremy Ogilvie, Sheilagh |
| Issue Date: | | 2011 |
| Series/Report no.: | | CESifo working paper: Empirical and Theoretical Methods 3438 |
| Abstract: | | The medieval Champagne fairs are widely used to draw lessons about the institutional basis for long-distance impersonal exchange. This paper re-examines the causes of the outstanding success of the Champagne fairs in mediating international trade, the timing and causes of the fairs' decline, and the institutions for securing property rights and enforcing contracts at the fairs. It finds that contract enforcement at the fairs did not take the form of private-order or corporative mechanisms, but was provided by public institutions. More generally, the success and decline of the Champagne fairs depended crucially on the policies adopted by the public authorities. |
| Subjects: | | legal system medieval Europe trade private-order institutions community responsibility system |
| JEL: | | N43 N73 O17 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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