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Abstract
We present new data documenting medieval Europe's Commercial Revolution using information on the establishment of markets in Germany. We use these data to test whether medieval universities played a causal role in expanding economic activity, examining the foundation of Germany's first universities after 1386 following the papal schism. We find that the trend rate of market establishment breaks upward in 1386 and this break is greatest where the distance to a university shrank most. There is no differential pre-1386 trend associated with the reduction in distance to a university, and there is no break in trend in 1386 where university proximity did not change. These results are robust to estimating a variety of specifications that address concerns about the endogeneity of university location. Universities provided training in newly rediscovered Roman and canon law; students with legal training served in positions that reduced the uncertainty of trade in the Middle Ages. We argue that training in the law, and the consequent development of legal and administrative institutions, was an important channel linking universities and greater economic activity in medieval Germany.
Item Type: | Journal article |
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Keywords: | I25; N13; N33; O10 |
Faculties: | Economics Economics > Chairs Economics > Chairs > Chair of Economic History |
Subjects: | 300 Social sciences > 330 Economics |
JEL Classification: | I25, N13, O10, N33 |
ISSN: | 0033-5533 |
Place of Publication: | JOURNALS DEPT, 2001 EVANS RD, CARY, NC 27513 USA |
Language: | English |
Item ID: | 21915 |
Date Deposited: | 24. Nov 2014, 10:34 |
Last Modified: | 04. Nov 2020, 13:02 |
Available Versions of this Item
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Medieval Universities, Legal Institutions, and the Commercial Revolution. (deposited 18. Apr 2012, 06:58)
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Medieval Universities, Legal Institutions, and the Commercial Revolution. (deposited 16. Dec 2014, 09:17)
- Medieval Universities, Legal Institutions, and the Commercial Revolution. (deposited 24. Nov 2014, 10:34) [Currently Displayed]
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Medieval Universities, Legal Institutions, and the Commercial Revolution. (deposited 16. Dec 2014, 09:17)