We examine the first widespread use of capital controls in response to a global or regional financial crisis. In particular, we analyze whether capital controls mitigated capital flight in the 1930s and assess their causal effects on macroeconomic recovery from the Great Depression. We find...

This study identifies the determinants of interstate variation in labor productivity levels at twenty-year intervals between 1880 and 1980. Focusing on fundamental rather than proximate influences, we find that institutional characteristics, physical geography, and resource abundance can account...