The Modern Silk Road: The Global Raw-Silk Market, 1850–1930
研究了1850至1930年间全球生丝市场的演变，利用价格和数量数据及协整技术发现市场高度整合，并分析了技术和制度的路径依赖特征。
From the mid-nineteenth century, the raw-silk trade served as the most important trade linkage between the then still largely closed economies of East Asia and the industrialized West. This article traces the evolution of the global raw-silk market during the period 1850 through 1930. Using comprehensive data on raw-silk prices and quantities and applying co-integration techniques, I find a well-integrated global raw-silk market evolved during this period. This article also examines the evolution of technologies and institutions of the global silk industry, which exhibited characteristics of path dependency and technical interrelatedness.