[...]In this article, we shed light on the globalizationof international production and trade by demonstratingthe increasingly important role vertical specializationplays in international trade. We use case studies andinput-output tables to calculate the level and growth...

The Great War of 1914-18 constituted a major rupture for the economies of Europe in several respects. It marked the end of almost a century of uninterrupted economic growth. It ended a long period of near-universal currency stability, and set in motion a painful process of de-globalisation. It...

Economics has always had two connected faces in its Western tradition. In Adam Smith's eighteenth century, as in John Stuart Mill's nineteenth, these might be described as the science of political economy and the art of economic governance. The former aimed to describe the workings of the...

This paper discusses some aspects of the changing relationship between thestudy of economic history and development economics. Forty years ago thesubjects seemed to be quite closely linked in the sense that senior figuresstraddled both areas, the development history of the advanced countries...

The task of economic planning in the new nation of Nigeria in theearly 1960s tested the limits of economic technologies: its recipesfor development, its possibilities of measurement, and fromdifferences in political economy. These dimensions of the problembeset not only the Nigerian politicians...

This paper uses data on elected village councils in South India to examinethe political economy of public resource allocation. We find that the patternof policy-making reflects politicians' self-interest. Elected councillors benefit from improved personal access to public resources. In addition,...

This paper explores the consequences of creating and improvingproperty rights so that …xed assets can be used as collateral. Thishas become a cause célèbre of Hernando de Soto whose views areinfluential in debates about policy reform concerning property rights.Hence, we refer to the economic...

This lecture is not in any sense a survey of the …field. It is a highlyselective and personal view of the motivation behind the fi…eld and some ofthe key themes that link the literature. Thus, it represents a manifestopresented in the hope that somebody who encounters these ideas for the...