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Entrepreneurship and Urban Growth : An Empirical Assessment with Historical Mines

Glaeser, Edward L. - 2014

mining deposits is associated with bigger firms and fewer start-ups in the middle of the 20th century. We use mines as an … cold and warm regions alike and in industries that are not directly related to mining, such as trade, finance and services …

Persistent link: https://www.econbiz.de/10013065603

Optimal Resource Extraction Contracts Under Threat of Expropriation

Engel, Eduardo M. R. A. - 2010

The government contracts with a foreign firm to extract a natural resource that requires an upfront investment and which faces price uncertainty. In states where profits are high, there is a likelihood of expropriation, which generates a social cost that increases with the expropriated value. In...

Persistent link: https://www.econbiz.de/10012759601

Mining and Quasi-Option Value

Costello, Christopher - 2015

damage. As expected, when the environmental damage from mining is known, the socially optimal timing will depend on the … mining until better information arrives. We show conditions under which it is optimal to postpone the mining decision … marginal mine owner is completely indifferent between mining immediately and at any point in the future. Thus, for our problem …

Persistent link: https://www.econbiz.de/10013019516

Short-Term Loans and Long-Term Relationships : Relationship Lending in Early America

Bodenhorn, Howard - 2001

Recent banking theory holds that durable firm-bank relationships are valuable to both parties. Using contract-specific loan records of a nineteenth-century U.S. bank, this paper shows that firms that form extended relationships with banks receive three principal benefits. First, firms with...

Persistent link: https://www.econbiz.de/10012787535

How Merchant Towns Shaped Parliaments : From the Norman Conquest of England to the Great Reform Act

Angelucci, Charles - 2017

We study the emergence of urban self-governance during the Commercial Revolution in the 12th- 13th century and show that municipal autonomy shaped national institutions over the subsequent centuries. We focus on England after the Norman Conquest of 1066 and build a novel comprehensive dataset of...

Persistent link: https://www.econbiz.de/10012951352

Austerity and the Rise of the Nazi Party

Galofré-Vilà, Gregori - 2017

We study the link between fiscal austerity and Nazi electoral success. Voting data from a thousand districts and a hundred cities for four elections between 1930 and 1933 shows that areas more affected by austerity (spending cuts and tax increases) had relatively higher vote shares for the Nazi...

Persistent link: https://www.econbiz.de/10012941600

The Paradox of Civilization : Pre-Institutional Sources of Security and Prosperity

Dal Bo, Ernesto - 2015

The rise of civilizations involved the dual emergence of economies that could produce surplus (“prosperity”) and states that could protect surplus (“security”). But the joint achievement of security and prosperity had to escape a paradox: prosperity attracts predation, and higher...

Persistent link: https://www.econbiz.de/10013009442

Corporate Governance and the Development of Manufacturing Enterprises in Nineteenth-Century Massachusetts

Hilt, Eric - 2014

This paper analyzes the use of the corporate form among nineteenth-century manufacturing firms in Massachusetts, from newly collected data from 1875. An analysis of incorporation rates across industries reveals that corporations were formed at higher rates among industries in which firm size was...

Persistent link: https://www.econbiz.de/10013054510

Acquisitions, Productivity, and Profitability : Evidence from the Japanese Cotton Spinning Industry

Braguinsky, Serguey - 2014

We explore how changes in ownership and managerial control affect the productivity and profitability of producers. Using detailed operational, financial, and ownership data from the Japanese cotton spinning industry at the turn of the last century, we find a more nuanced picture than the...

Persistent link: https://www.econbiz.de/10013058693

Location and Technological Change in the American Glass Industry During the Late Nineteenth and Early Twentieth Centuries

Lamoreaux, Naomi R.; Sokoloff, Kenneth L. - 2021

Scholars have attempted to explain geographic clustering in inventive activity by arguing that it is connected with clustering in production or new investment. They have offered three possible reasons for this link: because invention occurs as a result of learning by doing; because new...

Persistent link: https://www.econbiz.de/10013237558