This paper investigates whether high borrowing costs deterred investment in sanitation infrastructure in late nineteenth-century Britain. Town councils had to borrow to fund investment, with considerable variation in interest rates across towns and over time. Panel regressions, using annual data...

Motivated by the lack of previous research on historical inequality in Central Europe, this paper constructs wealth inequality statistics for a larger town in South Bohemia, Budweis. The data sources are rare detailed local tax censuses from 1416 and 1523 and a national tax register from 1654 as...

What effect does political instability in the form of a potential secession from a political union have on business formation? Using new measures of business creation and political instability in Ireland during the late nineteenth-century, we test whether increased political instability arising...

What was the impact of urban political structure on economic inequality in preindustrial times? I document that more closed political institutions were associated with higher economic inequality in a panel of early modern German cities. To investigate the mechanisms behind that...

Did the Prussian three-class franchise, which politically over-represented the economic elite, affect policy-making? Combining MP-level political orientation, derived from all roll call votes in the Prussian parliament (1867-1903), with constituency characteristics, we analyze how local vote...

We develop a framework that examines the organizational challenges faced by central rulers governing large territories, where administrative power needs to be delegated to local elites. We describe how economic change can motivate rulers to empower different elites and emphasize the interaction...

We show that smaller, regional public financial intermediaries significantly contributed to industrial development, using a new data set of the foundation year and location of Prussian savings banks. This extends the banking-growth nexus beyond its traditional focus on the large universal banks,...

In this article, I use documents obtained from the NatWest Group archives to examine the work of Alexander Shand as a director of Parr's Bank during the period 1909-1918. A Scottish banker, Alexander Shand was recruited by the Japanese government early in his career to instruct Japanese...

This study provides a comprehensive understanding of the Great Fire's effects on London's economic geography. Our analysis reveals both continuity and change. There was a swift postfire recovery accompanied by some shift in economic activity towards the City of Westminster by 1690, with markets...