Economic consequences of state failure; legal capacity, regulatory activity, and market integration in Poland, 1505-1772
With use of innovative proxies and new annual data, I demonstrate that relatively high legal capacity and regulatory activity of the early-modern Polish parliament, the Seym, was positively associated with deeper domestic commodity market integration. Conversely, the lack of effective law-making, caused by the right of a single delegate to discontinue the Seym's sessions, fostered market fragmenta