A significant outcome of the Commercial Revolution in Europe during the late medieval and early modern periods was the expansion of trade networks, which facilitated the rise of capitalism and shifted economic power towards emerging merchant classes. This expansion included the establishment of new trade routes and the increase in the volume of goods traded, particularly after the discovery of the Americas.
Another major outcome was the development of banking systems and financial institutions, which helped to support increased trade and commerce. Innovations such as joint-stock companies and bills of exchange allowed for greater investment opportunities and the pooling of capital, laying the groundwork for modern economic systems and encouraging exploration and colonization.
1 answer