Standardised Latin and medieval economic growth
Ulrich Blum|Léonard Dudley
Traditional explanations for Western Europe's demographic growth in the High Middle Ages are unable to explain rise per capita income that accompanied observed population changes. Here, we examine hypothesis an innovation information technology changed optimal structure of contracts and raised productivity human capital. We present historical evidence this thesis, offer a theoretical explanation based on transaction costs, test theory's predictions with data urban growth. find information-technology significantly increases capacity neoclassical model European economic expansion between 1000 1300.
European Review of Economic History