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The Berlin Stock Exchange in Imperial Germany – a Market for New Technology?

Lehmann, Sibylle; Streb, Jochen - C.E.P.R. Discussion Papers - 2015

Analysing 474 cases of firms going public in the German capital between 1892 and 1913, we show that innovative firms could rely on the Berlin stock market as a source of financing. The data also reveal that initial public offerings (IPO) of innovative firms were characterized by particularly low...

Persistent link: https://www.econbiz.de/10011266534

Internal Geography and External Trade: regional disparities in Italy, 1861-2011

A'Hearn, Brian; Venables, Anthony J - C.E.P.R. Discussion Papers - 2011

This paper explores the interactions between external trade and regional disparities in the Italian economy since unification. It argues that the advantage of the North was initially based on natural advantage (in particular the endowment of water, intensive in silk production). From 1880...

Persistent link: https://www.econbiz.de/10009365644

A Many-Country Model of Industrialization

Breinlich, Holger; Cuñat, Alejandro - C.E.P.R. Discussion Papers - 2011

to account for in existing models of industrialization. By construction, closed-economy models that stress the role of …

Persistent link: https://www.econbiz.de/10009207519

Economic Backwardness in Political Perspective

Acemoglu, Daron; Robinson, James A - C.E.P.R. Discussion Papers - 2002

We construct a simple model where political elites may block technological and institutional development, because of a ‘political replacement effect.’ Innovations often erode elites’ incumbency advantage, increasing the likelihood that they will be replaced. Fearing replacement, political...

Persistent link: https://www.econbiz.de/10005124137

The Potato's Contribution to Population and Urbanization: Evidence from an Historical Experiment

Nunn, Nathan; Qian, Nancy - C.E.P.R. Discussion Papers - 2009

We exploit regional variation in suitability for cultivating potatoes, together with time variation arising from their introduction to the Old World from the Americas, to estimate the impact of potatoes on Old World population and urbanization. Our results show that the introduction of the...

Persistent link: https://www.econbiz.de/10005039579

The Law of Primogeniture and the Transition from Landed Aristocracy to Industrial Democracy

Bertocchi, Graziella - C.E.P.R. Discussion Papers - 2003

phase, aristocratic political systems prevail, while democracies tend to emerge with industrialization. At the same time the …

Persistent link: https://www.econbiz.de/10005498052

Machines as Engines of Growth

Zeira, Joseph - C.E.P.R. Discussion Papers - 2005

This paper builds a model of growth through industrialization, as machines replace workers in a growing number of tasks … unboundedly. The mechanism that drives growth is the feedback between industrialization and wages. High wages are incentives to … use machines and industrialize, while industrialization raises wages. The model shows that industrialization and growth …

Persistent link: https://www.econbiz.de/10005656232

Premature Deindustrialization

Rodrik, Dani - C.E.P.R. Discussion Papers - 2015

-industrial economies. The hump-shaped relationship between industrialization (measured by employment or output shares) and incomes has … shifted downwards and moved closer to the origin. This means countries are running out of industrialization opportunities …

Persistent link: https://www.econbiz.de/10011165656

Was Stalin Necessary for Russia’s Economic Development?

Cheremukhin, Anton; Golosov, Mikhail; Guriev, Sergei; … - C.E.P.R. Discussion Papers - 2013

This paper studies structural transformation of Soviet Russia in 1928-1940 from an agrarian to an industrial economy through the lens of a two-sector neoclassical growth model. We construct a large dataset that covers Soviet Russia during 1928-1940 and Tsarist Russia during 1885-1913. We use a...

Persistent link: https://www.econbiz.de/10011083670

The Spread of Industry: Spatial Agglomeration in Economic Development

Puga, Diego; Venables, Anthony J - C.E.P.R. Discussion Papers - 1996

This paper describes the spread of industry from country to country as a region grows. All industrial sectors are initially agglomerated in one country, tied together by input-output links between firms. Growth expands industry more than other sectors, bidding up wages in the country in which...

Persistent link: https://www.econbiz.de/10005662334