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Cities of CommerceThe Institutional Foundations of International Trade in the Low Countries, 1250-1650$
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Oscar Gelderblom

Print publication date: 2013

Print ISBN-13: 9780691142883

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691142883.001.0001

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Conclusion

Conclusion

Chapter:
(p.198) Chapter 8 Conclusion
Source:
Cities of Commerce
Author(s):

Oscar Gelderblom

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691142883.003.0008

This concluding chapter summarizes the book's main findings about the ways that urban competition influenced the organization of international trade in the Low Countries. In particular, the book has shown how urban competition gives rise to inclusive institutions that facilitate exchange and help merchants deal with conflicts as well as losses from violent assaults. It has also discussed how Bruges, Antwerp, and Amsterdam supported a variety of institutions for conflict resolution to help merchants address any kind of agency problem. The chapter considers three conditions that enabled Bruges, Antwerp, and Amsterdam to transform an extremely heterogeneous institutional framework into a widely shared body of open access institutions: access to domestic and foreign markets, footloose merchants, and urban autonomy. Finally, it examines the implications of the history of Bruges, Antwerp, and Amsterdam for current theories of institutional change.

Keywords:   urban competition, international trade, Low Countries, inclusive institutions, conflict resolution, open access institutions, footloose merchants, urban autonomy, institutional change

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