In this paper, we use new historical data on the most popular stocks traded at the Istanbul bourse between 1910 and 1914, to examine the effect of wars on stock market prices. During this period, the Ottoman Empire was involved in the Turco-Italian and the Balkan wars, leading to massive land...

In this study, we focused on analysing and differentiating the determinants of conventional insurance and Tak¯aful demand across ASEAN and Middle East Regions. We used panel data econometrics on a sample of 14 Asian countries having both conventional insurance and Tak¯aful over the period...

We investigate the effect of delay on prices in bargaining situations using a data set containing thousands of captives ransomed from Barbary pirates between 1575 and 1692. Plausibly exogenous variation in the delay in ransoming provides ev- idence that negotiating delays decreased the size of...

The effect of liberal colonialism on the allocation of capital persists to this day. As Lange et al. (Colonialism and development: A comparative analysis of Spanish and British colonies. 2006) define and suggest, the authors exploit the colonial history of China during 1896-1911 with qualitative...

Leniency policies and asymmetric punishment are regarded as potentially powerful anticorruption tools, also in the light of their success in busting price-fixing cartels. It has been argued, however, that the introduction of these policies in China in 1997 has not helped fighting corruption....

What explains the variety of political behavior observed across the Arab world in recent years? We model political participation as a continuum from non-violent to violent activities where the chief purpose of political action is to signal discontent. The credibility of those signals, however,...

In this paper, we use new historical data on the most popular stocks traded at the çIstanbul bourse between 1910 and 1914, to examine the effect of wars on stock market prices. During this period, the Ottoman Empire was involved in the Turco-Italian and the Balkan wars, leading to massive land...

1914 ve 1918 yılları arasında, Osmanlı İmparatorluğu iktisadi anlamda yıkım yaratan Birinci Dünya Savaşı’na dahil olmuştu. Savaşın sonunda ülke işgal edilmiş ve işgal kuvvetleri ile çatışmalar ortaya çıkmıştı. Tarihsel çalışmalarda, Osmanlı İmparatorluğu’nun...

This study examines the formalization of banking supervision in Japan and Sweden that occurred in the decades around 1900. Using an incremental change approach, the respective cases are traced and examined from three dimensions: 1) the legal framework, 2) the banking supervisory agency, and 3)...

This paper studies state failure and governance in two conflict-states in the Middle East: Iraq and Somalia. Iraq is currently undergoing a social experiment under which a new form of government is being constructed after the passage of autocratic rule. The government envisaged is a...