In this paper we re-evaluate the hypothesis that the development of the financial sector was an essential factor behind economic growth in 19th century Germany. We apply a structural VAR framework to a new annual data set from 1870 to 1912 that was initially recorded by Walther Hoffmann (1965)....

Russia and Germany both industrialized later than England and the United States, and both countries retained authoritarian autocracies until World War I. But the two countries diverged in their regulation of industrial corporations during the mid-19th century, with Russia retaining strict...

What are the origins and consequences of the state as a provider of public goods? We study legal reforms that established mass public education and increased state capacity in German cities during the 1500s. These fundamental changes in public goods provision occurred where ideological...

This paper contributes to the understanding of the long-run consequences of Roman rule on economic development. In ancient times, the area of contemporary Germany was divided into a Roman and non-Roman part. The study uses this division to test whether the formerly Roman part of Germany show a...

In this paper we analyse income formation patterns throughout the German industrialisation process (1860-1913) through the analysis of different financial flows. Similar to Neuburger & Stokes (1974), we make use of flow statistics originally estimated by Eistert (1970) with regard to four...

The study develops two new real wages series for Germany c. 1500-1850 and analyzes their relationship with population size. From 1690 data density allows the estimation of a structural time series model of this relationship. The major results are the following: First, there was a strong negative...

23 Stock Exchanges were in operation in Germany in 1913. We provide new data about the number of listed firms, their market value, and the number of IPOs between 1897 and 1913 for all exchanges. We assess reasons why a firm opts to be listed at a certain exchange. Large firms tend to be listed...

Was Germany ever united? Given the historical circumstances of Germany's unification in the 19th century there is no obvious answer to this question. But such an answer can affect the prospects of the post-1989 unification process, and beyond this of European integration. We provide an...

This paper contributes to the understanding of the long-run consequences of Roman rule on economic development. In ancient times, the area of contemporary Germany was divided into a Roman and non-Roman part. The study uses this division to test whether the formerly Roman part of Germany show a...