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Convergent Evolution Toward the Joint-Stock Company

Le Bris, David; Goetzmann, William N.; Pouget, Sébastien - National Bureau of Economic Research - 2023

The origin of the modern publicly-held joint-stock company is typically traced to large-scale maritime trading companies in England and the Netherlands in the early 17th century. Highlighting medieval cases in southern Europe, we claim that the joint-stock company likely emerged in several times...

Persistent link: https://www.econbiz.de/10014436952

Structural Transformation and Value Change : The British Abolitionist Movement

Figueroa, Valentin; Fouka, Vasiliki - National Bureau of Economic Research - 2023

What drives change in a society's values? From Marx to modernization theory, scholars have identified a connection between structural transformation and social change. To understand how changes in a society's dominant mode of production affect its dominant values, we examine the case of the...

Persistent link: https://www.econbiz.de/10014372465

Slavery and the British Industrial Revolution

Heblich, Stephan; Redding, Stephen; Voth, Hans-Joachim - National Bureau of Economic Research - 2022

Did overseas slave-holding by Britons accelerate the Industrial Revolution? We provide theory and evidence on the contribution of slave wealth to Britain's growth prior to 1835. We compare areas of Britain with high and low exposure to the colonial plantation economy, using granular data on...

Persistent link: https://www.econbiz.de/10013388807

The Eurocrisis : Muddling Through, or On the Way to a More Perfect Euro Union?

Aizenman, Joshua - 2014

institutions. The euro has operated as a currency without a state, under the dominance of Germany. This has so far allowed the euro … to achieve a number of design objectives, and this may continue, as long as Germany does not shirk its growing … responsibility for the euro's future. Germany's resilience and dominant size within the EU may explain its "muddling …

Persistent link: https://www.econbiz.de/10012458424

The Topography of Nations

Allen, Treb - National Bureau of Economic Research - 2023

How does the interplay of geography and political-economic forces affect the shape of nations? This paper presents a quantitative framework for characterizing the equilibrium evolution of national boundaries in a world with a rich geography. The framework delivers simple equilibrium conditions...

Persistent link: https://www.econbiz.de/10014421232

Dissecting the Sinews of Power : International Trade and the Rise of Britain's Fiscal-Military State, 1689-1823

Dal Bó, Ernesto; Hutková, Karolina; Leucht, Lukas; … - National Bureau of Economic Research - 2022

We evaluate the role of taxes on trade in the development of imperial Britain's fiscal-military state. Influential work, e.g., Brewer's (1989) "Sinews of Power," attributed increased fiscal capacity to the taxation of domestic, rather than traded, goods: excise revenues, coarsely associated with...

Persistent link: https://www.econbiz.de/10013477246

Deputization

Carlin, Bruce I. - 2020

A policy of deputization asks agents to monitor others without providing explicit incentives. It is often used to prevent dangerous activities. To calibrate whether and why it works, we study recent laws that deputized financial professionals to help fight elder financial abuse. We show...

Persistent link: https://www.econbiz.de/10012481808

Prison Labor : The Price of Prisons and the Lasting Effects of Incarceration

Archibong, Belinda; Obikili, Nonso - National Bureau of Economic Research - 2023

Institutions of justice, like prisons, can be used to serve economic and other extrajudicial interests, with lasting deleterious effects. We study the effects on incarceration when prisoners are primarily used as a source of labor using evidence from British colonial Nigeria. We digitized 65...

Persistent link: https://www.econbiz.de/10014337869

Managing to Learn

Beg, Sabrin; Fitzpatrick, Anne E.; Lucas, Adrienne M. - National Bureau of Economic Research - 2023

To improve public services, public sector managers must encourage reticent civil servants to enact effective reforms. We show through a randomized controlled trial that school principals, i.e., school mangers, can act as leaders to improve Instructional Management (0.3SD) and student learning...

Persistent link: https://www.econbiz.de/10014421182

Deposit and Credit Reallocation in a Banking Panic : The Role of State-Owned Banks

Acharya, Viral V.; Das, Abhiman; Kulkarni, Nirupama; … - National Bureau of Economic Research - 2022

We study a bank run in India in which private bank branches experience sudden and considerable loss of deposits that seek safety in state-owned public sector banks (PSBs). We trace the consequences of this reallocation using granular data on bank-firm relationships and branch balance sheets. The...

Persistent link: https://www.econbiz.de/10013435119

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