The Catalan commercial integration with early modern Europe, 1630-1778

Manera C., Perez-Montiel J., Ozcelebi O., Seguí A.

APPLIED ECONOMIC ANALYSIS, cilt.33, sa.97, ss.35-52, 2025 (SSCI, Scopus) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 33 Sayı: 97
  • Basım Tarihi: 2025
  • Doi Numarası: 10.1108/aea-11-2023-0444
  • Dergi Adı: APPLIED ECONOMIC ANALYSIS
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus, Fuente Academica Plus, ABI/INFORM, EconLit, Directory of Open Access Journals, DIALNET
  • Sayfa Sayıları: ss.35-52
  • İstanbul Üniversitesi Adresli: Evet

Özet

PurposeThis study aims to analyze whether the Barcelona markets integrated with Europe during the 17th and 18th centuries.Design/methodology/approachThis study uses the unit root tests with multiple structural breaks under both the null and alternative hypotheses proposed by Carrion-i-Silvestre et al. (2009) and Harvey et al. (2013). These tests are robust to multiple unknown breaks in the series.FindingsThe results suggest that the Barcelona wheat markets integrated with some European cities during the 18th century.Originality/valueThe results are important because they highlight the importance of considering nonlinearities and structural breaks in the series to study market integration with historical perspective. Contrary to the results obtained using conventional unit root tests, when this study applies unit root tests robust to structural breaks in the series, it finds that the law of one price holds in some cases.