Found 9 article(s) for author 'Economic History'

Financial Systems, Economic Growth, and Globalization in the Era of the Cold War

Financial Systems, Economic Growth, and Globalization in the Era of the Cold War. Niall Ferguson, 2017, Book Chapter, “Financial historians have long been interested in the relationship between financial innovation and economic growth (eg, Rousseau and Sylla 2003). From the rise of the Dutch Republic to the golden age of the pax americana, banks, capital markets, and other…Link

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The Development of the American Economy Program

The Development of the American Economy Program. Claudia Goldin, June 2017, Paper, “The mission of the Development of the American Economy Program is to research historical aspects of the American economy broadly defined. Its members are economic historians whose specific interests span many subfields within economics. Economic history is a distinct field, like macro, public finance, and labor, with a group of practitioners who self-identify as economic historians. Economic historians study parts of the past that are relevant to the issues of our day.Link

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Australian Squatters, Convicts, and Capitalists: Dividing Up a Fast-Growing Frontier Pie 1821-1871

Australian Squatters, Convicts, and Capitalists: Dividing Up a Fast-Growing Frontier Pie 1821-1871. Jeffrey Williamson, April 2017, Paper, “Compared with its nineteenth century competitors, Australian GDP per worker grew exceptionally fast, about twice that of the US and three times that of Britain. This paper asks whether the fast growth performance produced rising inequality. Using a novel data set we offer new evidence supporting unambiguously the view that, in sharp contrast with US, Australia underwent a revolutionary leveling in incomes between the 1820s and the 1870s. This assessment is based on our annual estimates of functional shares in the form of land rents, convict incomes, free unskilled incomes, free skill premiums, British imperial transfers and a capitalist residual.Link

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Medieval Origins: A Review Essay on Campbell’s The Great Transition

Medieval Origins: A Review Essay on Campbell’s The Great Transition. Eric Cheney, December 2016, Paper, “Campbell’s The Great Transition is a significant contribution to the growing literature that traces the roots of Europe’s economic rise to the climatic and population shocks of the late medieval period. This review essay discusses the empirical, historical and theoretical support for Campbell’s view while highlighting that it struggles to explain why these positive effects were limited to Europe. It then hypothesizes that Europe’s differential response to this shock reflected prior institutional advantages and provides some preliminary empirical evidence in support of this hypothesis. The essay concludes by examining Campbell’s claim that these shocks contributed to Atlantic Europe’s rise prior to the colonial period.Link

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How Did Britain Democratize? Views from the Sovereign Bond Market

How Did Britain Democratize? Views from the Sovereign Bond Market, Daniel Ziblatt, March 2015, Paper, To assess competing theories of democratization, we analyze British sovereign bond market responses to the 1832, 1867, and 1884 Reform Acts, and to two failed Chartist agitations for reform. Analyses of high-frequency 3% consol yield data and historical financial press suggest three conclusions. First, democratic reform episodes were preceded by increases in perceived political risk, comparable to democratizing episodes in other countries. Second, both democratic reform and repression were followed by yield declines. Third, the source of political risk in Britain was both social unrest and political deadlock. Together, the findings challenge the “Whig” characterization of British democratization as exceptionally risk-free. Link

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This Time is Different: A Panoramic View of Eight Centuries of Financial Crises

This Time is Different: A Panoramic View of Eight Centuries of Financial Crises, Carmen M. Reinhart, Kenneth Rogoff, November 2014, Paper, This paper offers a “panoramic” analysis of the history of financial crises dating from England’s fourteenth-century default to the current United States sub-prime financial crisis. Our study is based on a new dataset that spans all regions. It incorporates a number of important credit episodes seldom covered in the literature, including for example, defaults and restructurings in India and China. As the first paper employing this data, our aim is to illustrate some of the broad insights that can be gleaned from such a sweeping historical database. We find that serial default is a nearly universal phenomenon as countries struggle to transform themselves from emerging markets to advanced economies. Link

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Firms and Global Capitalism

Firms and Global Capitalism. Geoffrey G. Jones, March 2014, Book Chapter. “The second volume of The Cambridge History of Capitalism provides an authoritative reference on the spread and impact of capitalism across the world, and the varieties of responses to it. Employing a wide geographical coverage and strong comparative outlook, a team of leading scholars explore the global consequences that capitalism has had for industry, agriculture and trade, along with the reactions by governments, firms and markets…” May require purchase or user account. Link Verified October 11, 2014

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Entrepreneurs, Firms and Global Wealth since 1850

Entrepreneurs, Firms and Global Wealth since 1850. Geoffery G. Jones, March 12, 2013, Paper. “We live today in a world where most people are poor and some are very rich, and the category in which you find yourself is largely determined not by your job, your age or your gender but by your location. Despite the fast economic growth of China and India over the past two decades, most people in the world today are very poor. Nearly 3 billion people live on less than $2 a day; almost 1 billion are illiterate…” Link Verified October 11, 2014

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Fortune Tellers: The Story of America’s First Economic Forecasters

Fortune Tellers: The Story of America’s First Economic Forecasters. Walter A. Friedman, 2013, Book. “The period leading up to the Great Depression witnessed the rise of the economic forecasters, pioneers who sought to use the tools of science to predict the future, with the aim of profiting from their forecasts. This book chronicles the lives and careers of the men who defined this first wave of economic fortune tellers, men such as Roger Babson, Irving Fisher, John Moody, C. J. Bullock, and Warren Persons?…” May require purchase or user account. Link Verified October 12, 2014

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