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Transport infrastructure investment increased substantially in Britain between the seventeenth and eighteenth century. This paper argues that the Glorious Revolution of 1688-89 contributed to transportation investment by reducing uncertainty about the security of improvement rights. It shows...
Persistent link: https://www.econbiz.de/10004977002
to initiate adequate investment incentives.Using a two-equation estimation approach, a direct competition effect (more … service competition increases the supply of infrastructure) can be disentangled from an indirect effect (more service … competition increases the demand for infrastructure quality and, as a consequence, increases the supply of infrastructure). While …
Persistent link: https://www.econbiz.de/10013135021
to initiate adequate investment incentives. Using a two-equation estimation approach, a direct competition effect (more … service competition increases the supply of infrastructure) can be disentangled from an indirect effect (more service … competition increases the demand for infrastructure quality and, as a consequence, increases the supply of infrastructure). While …
Persistent link: https://www.econbiz.de/10008701353
We examine the long-term links between state capacity and economic performance. Our database is novel and spans 11 countries and 4 centuries in Europe, the birthplace of modern economic growth. A dynamic simultaneous equation panel model indicates that the performance effects of states with...
Persistent link: https://www.econbiz.de/10015231733
We present new evidence about the long-term links between state capacity and economic performance. Our database is novel and spans 11 countries and 4 centuries in Europe, the birthplace of modern economic growth. A dynamic simultaneous equation panel model indicates that the performance effects...
Persistent link: https://www.econbiz.de/10015232344
We present new evidence about the long-term links between state capacity and economic performance. Our database is novel and spans 11 countries and 4 centuries in Europe, the birthplace of modern economic growth. Using standard panel data methods, we find that the performance impacts of states...
Persistent link: https://www.econbiz.de/10015234427
Our purpose here is to challenge the big-bang approach to economic history in which some alleged institutional imposition - a deus machine - is claimed to launch a series of new economic behaviors. This so-called prime mover is then carried forward by the inexorable forces of path dependency to...
Persistent link: https://www.econbiz.de/10010368515
Institutions - the structures of rules and norms governing economic transactions - are widely assigned a central role in economic development. Yet economic history is still dominated by the belief that institutions arise and survive because they are economically efficient. This paper shows that...
Persistent link: https://www.econbiz.de/10010264182
We present new evidence about the long-run relationship between state capacity and economic performance in Europe, the birthplace of modern economic growth. Our database is novel and spans 11 countries and 4 centuries from the Old Regime to World War I. We argue that national governments...
Persistent link: https://www.econbiz.de/10015238843
Law and finance theory emphasizes the negative consequences of civil law on financial and, subsequently, economic development. Before the Revolution, French territory was strictly divided according to the legal regime. Since the Middle-Ages, the southern part of France was under Justinian civil...
Persistent link: https://www.econbiz.de/10015240030