Medieval Universities, Legal Institutions, and the Commercial Revolution
Davide Cantoni|Noam Yuchtman
We present new data documenting medieval Europe’s “Commercial Revolution” using information on the establishment of markets in Germany. use these to test whether universities played a causal role expanding economic activity, examining foundation Germany’s first after 1386 following Papal Schism. find that trend rate market breaks upward and this break is greatest where distance university shrank most. There no differential pre-1386 associated with reduction university, there proximity did not change. These results are robust estimating variety specifications address concerns about endogeneity location. Universities provided training newly-rediscovered Roman canon law; students legal served positions reduced uncertainty trade Middle Ages. argue law, consequent development administrative institutions, was an important channel linking greater activity
RePEc: Research Papers in Economics|London School of Economics and Political Science Research Online (London School of Economics and Political Science)|Open Acess LMU (Ludwig-Maximilians-Universität München)|Library Union Catalog of Bavaria, Berlin and Brandenburg (B3Kat Repository)|Econstor (Econstor)|CiteSeer X (The Pennsylvania State University)|RePEc: Research Papers in Economics