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Since the early days of the republic, state and local governments have periodically embarked on widespread, large-scale attempts to spur economic growth through targeted economic development subsidies. Interestingly, the constitutions of nearly every state in the union contain provisions that,...
Persistent link: https://www.econbiz.de/10012838645
There is a large and growing literature on the relationship between financial development and economic growth. It suggests a positive causal link running from finance to growth. We consider, in broad terms, the existing historical evidence on this connection. We demonstrate that constraints on...
Persistent link: https://www.econbiz.de/10014053477
This study establishes a link between medieval trade, agglomeration and contemporary regional development in ten European countries. It documents a statistically and economically significant positive relationship between prominent involvement in medieval trade and regional economic development...
Persistent link: https://www.econbiz.de/10013005916
To better understand the role of taxation in the emergence of states, this article presents an incomplete contract model of an agricultural society in which information asymmetries cause inefficient taxation, and hence outmigration, uprisings, and rent-seeking, but also urbanization. We propose...
Persistent link: https://www.econbiz.de/10011729114
Persistent link: https://www.econbiz.de/10013543209
The three exchange rate regimes adopted by Italy from 1883 up to the eve of World War I - the gold standard (1883 … underlying Italy's performance particularly focusing on the strategy of reserve accumulation. It presents a cointegration … of policy measures, reflected in the different variables adjusting the system in the various regimes. Italy's variegated …
Persistent link: https://www.econbiz.de/10013155097
the broker in markets and fairs, and develop a unique data set of approximately 1100 sets of brokerage rules in 42 …
Persistent link: https://www.econbiz.de/10013135004
The paper presented here, part of my PhD dissertation written under Professor Brian Reddaway's guidance, is offered as an example of his approach to applied economics as well as a tribute to his legacy. The scope of this paper is to suggest an operational approach to the analysis of growth, an...
Persistent link: https://www.econbiz.de/10013152849
This paper offers an explanation of the high mobility of skilled workers based on human capital complementarities. If the skill premium is increasing in the average level of human capital of a location, and there exist fixed migration costs, in equilibrium the more skilled the workers are, the...
Persistent link: https://www.econbiz.de/10014133590
What obstacles prevent the most productive technologies from spreading to less developed economies from the world’s technological frontier? In this paper, we seek to shed light on this question by quantifying the geographic and human barriers to the transmission of technologies. We argue that...
Persistent link: https://www.econbiz.de/10014025608