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on Business, Economic and Financial History |
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Issue of 2008‒05‒05
seven papers chosen by |
| By: | Sabina Alkire and Angus Ritchie |
| Abstract: | For economic ideas to take root and change history, a number of ingredients need to be present, ranging from individual agents to policy implementation. This paper identifies certain strategic levers that underlay the success of free market economists in promoting their approach in academia, society, and government. How did these economists move from a marginalized position where they could not publish or receive tenure and where their students were not hired at other leading universities, to a position of dominance? In particular, it examines the impact of F.A. Hayek, and of such institutions as the Mont Pelerin Society, the Institute for Economic Affairs (IEA) in Britain, and the funding arrangements. The paper draws on the wealth of secondary literature regarding the spread of free market economic ideas, particularly in the US, Latin America, and the UK, to identify five strategic activities and methods of transmission that were central to their advance, and will be relevant to others. |
| Date: | 2007–05 |
| URL: | http://d.repec.org/n?u=RePEc:qeh:ophiwp:ophiwp007&r=his |
| By: | Stephen Haber (Stanford University); Enrico Perotti (University of Amsterdam) |
| Abstract: | This survey reviews the literature on the political economy of financial structure, broadly defined to include the size of capital markets and banking systems as well as the distribution of access to external finance across firms. The theoretical literature on the institutional basis for financial development and the recent evidence suggests that unconstrained political power undermines financial accumulation. Even under limited government, unaccountable institutions lead to regulatory capture, favor connected interests, and undermine finance access and entry. Thus the degree of access to political rights by citizens thus strongly affects their access to finance. Finally, we review the recent literature on the time variation of financial development across democracies during the XX century. |
| Keywords: | political institution; property rights; investor protection; financial development; access to finance; entry; banking |
| JEL: | G21 G28 G32 P16 |
| Date: | 2008–04–25 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:uvatin:20080045&r=his |
| By: | Michael Hicks (Bureau of Business Research and Department of Economics, Ball State University); Major Jeffrey S Smith (Graduate School of Engineering and Management, Air Force Institute of Technology) |
| Abstract: | This paper reports the effect of intra and international conflict on domestic investment in South America from 1950-2000. We combine data from the Penn World Table 6.1 and the Militarized Interstate Dispute Dataset from the Correlates of War project in a spatial investment accelerator model. We find that the magnitude of conflicts (total fatal casualties) is associated with diminished domestic investment, in magnitudes that range from 0.1 percent to one third of total investment across South America's experience in civil wars, conflicts and ethnic wars. We find no evidence of spatial spillovers in South America's civil wars. The paucity of international conflicts in the region leads us to conclude there is no more than suggestive evidence of large impacts and spatial spillovers of international conflicts. |
| Date: | 2008–04 |
| URL: | http://d.repec.org/n?u=RePEc:bsu:wpaper:200801&r=his |
| By: | Hurwicz, Leonid (University of Minnesota) |
| Abstract: | A pre-recorded version of Leonid Hurwicz' Prize Lecture was presented on 8 December 2007 at Aula Magna, Stockholm University. The lecture was introduced by Professor Jorgen Weibull, Chairman of the Economics Prize Committee. |
| Keywords: | Mechanism design; |
| JEL: | D02 |
| Date: | 2007–12–08 |
| URL: | http://d.repec.org/n?u=RePEc:ris:nobelp:2007_003&r=his |
| By: | Myerson, Roger B. (University of Chicago) |
| Abstract: | Roger B. Myerson delivered his Prize Lecture on 8 December 2007 at Aula Magna, Stockholm University. He was introduced by Professor Jorgen Weibull, Chairman of the Economics Prize Committee. |
| Keywords: | Mechanism Design; |
| JEL: | D02 |
| Date: | 2007–12–08 |
| URL: | http://d.repec.org/n?u=RePEc:ris:nobelp:2007_006&r=his |
| By: | Alrubaie, falah.K.Ali |
| Abstract: | The topic of study relations sectoral oil states, specifically the relationship between the oil sector and non-oil sectors with particular emphasis on many economists and emerged from theoretical studies and applied, who adopted the hypothesis of Dutch disease, which believes that the rise in oil revenues will have negative effects on the development of sectors Non-oil, especially in the sectors of manufacturing and agriculture. Despite the economic structure characterized by the diversity of Iraq in comparison with the economies of oil-Pure rental nature, but that he shared with them in terms of governing the oil sector in path of changes in relations sectoral result of the continuing situation of imbalance in the structure of production which resulted in the expansion of the oil sector and Economic activities financed by oil revenues, and at the expense of relative neglect of the sectors of the non-oil commodity . To explication the most important developments in the relations sector in the Iraqi economy for the period (1970 -1990) study used a structural analysis, which concerned an analysis of the relative distribution rates and sectoral working relations within the framework of macro-economic system, in order to diagnose the main characteristics of the economic structure in Iraq and the evolving trends Relations in the sector in the Iraqi economy, and determine their impact on the process of structural transformation in Iraqi Economy . To achieve this objective analysis covered both GDP growth and its impact on the development and the sectoral linkages between these sectors , and its impact on the development of relations sector. Finally ,The study found that the Iraqi economy, have witnessed during the eighties of the twentieth century, the worst kinds of sectoral imbalances, which deepened the absence of proportionality between the sectors that are the sources of supply for the domestic output of non-oil commodity, and sectors that operate tributaries of domestic demand, has been reflected, more disruption Between the real production capacities generated in the national economy, reflected in the added value achieved in agriculture and manufacturing, and the large consumer of entry generated in the non-commodity activities, especially activities of public administration and defense. The analysis of the linkages overall productivity (direct and indirect) between different economic activities, the production structure in Iraq biased towards the final production links, and there is no tendency towards engaging in successive stages of production, the absence of the role of intermediary manufacturing productivity, weak effects generated by the incentive, which Explains the weakness of the multiplier effects generated by the exchange sectoral front and rear, and the high volume of leakage from the intermediate flows during the import process for the various intermediate goods production as a result of the weakness of the manufacturing sector's role in bolstering productivity and provide linkages intermediate inputs and productivity of other sectors of national economy and the absence of the role of the leader sector, who achieved high productivity and employment |
| Keywords: | تحليل الهيكل الإنتاجي والعلاقات القطاعية في الاقتصاد العراقي خلال الفترة (1970 -1990) |
| JEL: | A12 |
| Date: | 2000–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8518&r=his |
| By: | John Hartwick (Queen's University) |
| Abstract: | We draw on Ricardian comparative advantage between distinct persons to map out the division of labor among proto-humans in a village some 1.7 million years ago. A person specialized in maintaining a cooking fire in the village is of particular interest (Ofek [2001]). We are also interested in modelling hunting by village males in teams. The large issue is whether and how specialization (division of labor) and interpersonal trade might have driven brain-expansion in early humans. |
| Keywords: | early humans, division of labor, brain expansion |
| JEL: | A14 D51 J22 |
| Date: | 2007–11 |
| URL: | http://d.repec.org/n?u=RePEc:qed:wpaper:1161&r=his |