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Japanese exports between 1880 and 1910 increased massively in volume, changed composition, and shifted away from leading industrialized countries toward poorer Asian neighbors. The product mix also varied with the level of development of the destination, with new products and specializations...
Persistent link: https://www.econbiz.de/10012954913
Using the gravity model, we find evidence of three continental trading blocs: the Americas, Europe and Pacific Asia …
Persistent link: https://www.econbiz.de/10013219304
In contemporary data, the measured factor content of trade is far smaller than its predicted magnitude in the pure Heckscher-Ohlin-Vanek framework, the so-called 'missing trade' mystery. We wonder if this problem has been there from the beginning: that is, we ask if the Heckscher-Ohlin theory...
Persistent link: https://www.econbiz.de/10013243367
Although we cannot conceive of processes of economic growth that do not involve institutional change, in this essay we outline some reasons why one should be cautious about grounding a theory of growth on institutions. We emphasize how very different institutional structures have often been...
Persistent link: https://www.econbiz.de/10013323986
This paper uses a unique dataset to study how firms managed liquidity during the financial crisis. Our analysis provides new insights on the interactions between internal liquidity, external funds, and real corporate decisions, such as investment and employment. We first describe how companies...
Persistent link: https://www.econbiz.de/10013138771
Covid-19 is the single largest threat to global public health since the Spanish Influenza pandemic of 1918-20. Was the world better prepared in 2020 than it was in 1918? After a century of public health and basic science research, pandemic response and mortality outcomes should be better than in...
Persistent link: https://www.econbiz.de/10012834466
century Venetian spice markets were already well integrated with those in Iberia and northern Europe, implying that Portugal … Europe. In addition, it explores European market integration before and after 1503, the year when da Gama returned from his …
Persistent link: https://www.econbiz.de/10012767453
be more different. Common wisdom has it that on impact Asia endured fiscal austerity imposed by the IMF whereas the IMF … different policies to begin with, the fiscal adjustment in Asia was far more modest than is commonly known and the switch from … stimulus to austerity in Europe was quite abrupt. The difference in fiscal stance helps explain the difference in the post …
Persistent link: https://www.econbiz.de/10013060259
We employ the conjectural approach to estimate the growth of GDP per capita for the colonies and states of the mid-Atlantic region (Del., NJ, NY and Penn). In contrast to previous studies of the region's growth that relied heavily on the performance of the export sector, the conjectural method...
Persistent link: https://www.econbiz.de/10013122468
Lack of evidence has been the major obstacle to understanding trends and differences in human welfare over the millennia. This paper explains and applies methods that are obscure to most academics and essentially unknown to the general public. A millennial perspective is best obtained from...
Persistent link: https://www.econbiz.de/10013215385