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In this paper we analyse income formation patterns throughout the German industrialisation process (1860-1913) through … of the influence of finance on real economic activity in general and non-agricultural income formation in particular … might lend further support to the theory of disaggregated credit and might have implications for renowned models of income …
Persistent link: https://www.econbiz.de/10012233137
We exploit employment data from 10,528 parishes across nineteenth century England and Wales and find that a one standard deviation increase in finance employment increases the annualized growth rate of secondary labour by 0.8 percentage points. An endogenous growth model with finance and...
Persistent link: https://www.econbiz.de/10011388174
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,...
Persistent link: https://www.econbiz.de/10011688394
We exploit employment data from 10,528 parishes across nineteenth century England and Wales and find that a one standard deviation increase in finance employment increases the annualized growth rate of secondary labour by 0.8 percentage points. An endogenous growth model with finance and...
Persistent link: https://www.econbiz.de/10011342399
We exploit employment data from 10,528 parishes across nineteenth century England and Wales and find that a one standard deviation increase in finance employment increases the annualized growth rate of secondary labour by 0.8 percentage points. An endogenous growth model with finance and...
Persistent link: https://www.econbiz.de/10013014356
This paper studies the influence of the service sector (joint-stock commercial banks and railways) on the economic development of agricultural regions within the Russian empire in the second half of the 19th century, using the case of the Central Black Earth region. The study compares yield data...
Persistent link: https://www.econbiz.de/10012599654
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,...
Persistent link: https://www.econbiz.de/10011688273
Persistent link: https://www.econbiz.de/10013364946
Persistent link: https://www.econbiz.de/10000160637
-fixed and time-fixed effects removes the statistical significance of income as a causal factor of democracy. We argue that their … empirical approach must produce insignificant income effects and that a small change in the estimation process immediately … reveals the strong effect of income on democracy. -- Democracy ; modernization hypothesis ; fixed-effects estimation …
Persistent link: https://www.econbiz.de/10003764592