This paper documents that the Rise of (Western) Europe between 1500 and 1850 is largely accounted for by the growth of …. Atlantic trade and colonialism affected Europe both directly, and indirectly by inducing institutional changes. In particular …, thus enabling new merchants in these countries to benefit from Atlantic trade. Therefore, the Rise of Europe was largely …

Europe. When a change in the technological regime necessitates the creation of new firms, this can happen relatively rapidly … in the U.S. where credit markets function efficiently. In contrast, in Europe, job creation is constrained by credit … slower growth in the most credit dependent industries in Europe relative to the U.S., but the share of employment in these …