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Abraham Lincoln's election produced Southern secession, Civil War, and abolition. Using a new database of slave sales … invade to oppose secession, and that emancipation of slaves without compensation was unlikely, both of which were …
Persistent link: https://www.econbiz.de/10013073191
Recent work emphasizes the primacy of differences in countries' colonially-bequeathed property rights and legal systems for explaining differences in their subsequent economic development. Barbados and Jamaica provide a striking counter example to this long-run view of income determination. Both...
Persistent link: https://www.econbiz.de/10012758058
Maryland's non-legal-tender paper money emissions between 1765 and 1775 are reconstructed to determine the quantities outstanding and their redemption dates, providing a substantial correction to the literature. Over 80 percent of this paper money's current market value was expected real asset...
Persistent link: https://www.econbiz.de/10013046605
Trade liberalization and political separatism go hand in hand. In a world of trade restrictions, large countries enjoy economic benefits because political boundaries determine the size of the market. In a world of free trade and global markets even relatively small cultural, linguistic or ethnic...
Persistent link: https://www.econbiz.de/10013322303
Why did the most prosperous colonies in the British Empire mount a rebellion? Even more puzzling, why didn't the British agree to have American representation in Parliament and quickly settle the dispute peacefully? At first glance, it would appear that a deal could have been reached to share...
Persistent link: https://www.econbiz.de/10012981617
Poland, Hungary. and Czechoslovakia and develop a model of changing support for reforms during the transition to a market … economy. I find surprising stability in labor institutions in the first stage of transition to a market economy, but dramatic … massive vacancies. The dispersion of wages increased substantially in Hungary and Poland though not in Czechoslovakia. My …
Persistent link: https://www.econbiz.de/10013220944
shock accounts for all of the decline in Hungarian GDP, about 60 percent of decline in Czechoslovakia, and between a quarter …
Persistent link: https://www.econbiz.de/10013211658
that increases in income are conducive to increases in democracy levels. This doubt stems mainly from the fact that while a … strong positive correlation exists between income and democracy levels, the relationship disappears when one controls for …, such as institutional quality. In this paper, we reexamine the robustness of the income-democracy relationship. We extend …
Persistent link: https://www.econbiz.de/10013129124
A growing body of work suggests that education offers a wide-range of benefits that extend beyond increases in labor market productivity. Improvements in education can lower crime, improve health, and increase voting and democratic participation. This chapter reviews recent developments on these...
Persistent link: https://www.econbiz.de/10013130984
The federal government stands poised to exercise its constitutional right to regulate financial markets, an area traditionally left to competing provincial securities commissions. The current state of securities regulation renders impotent US-style takeover defences, such as poison pills and...
Persistent link: https://www.econbiz.de/10013135809