Tariffs, Trains, and Trade: The Role of Institutions versus Technology in the Expansion of Markets

Tariffs, Trains, and Trade: The Role of Institutions versus Technology in the Expansion of Markets

Tariffs, Trains, and Trade: The Role of Institutions versus Technology in the Expansion of Markets

We study the relative importance of technology and institutions as factors determining the size of markets. The setting of 19th century Europe presents a unique opportunity to address this issue, since it witnessed fundamental change in both dimensions. First, Germany went from around 1,800 customs borders to none through the Zollverein customs treaties.

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