Globalization and the Near East: A Study of Cotton Market Integration in Egypt and Western Anatolia

Abstract

The Near East underwent a process of integration with the global economy during the second half of the nineteenth century. This article explores one aspect of this process, examining the linkages established between the cotton industries in Egypt and Western Anatolia, and the international cotton market during the first wave of globalization. We undertake a quantitative exploration of the pattern of price transmission between the Near East and the international cotton markets over this period, connecting changes in the nature of spatial market integration to major economic and political developments.