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on Business, Economic and Financial History |
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Issue of 2024‒04‒08
33 papers chosen by |
| By: | McLaughlin, Eoin; Whelehan, Niall |
| Abstract: | Analysis of excess mortality holds the potential to revise understandings of key moments in modern Irish history. Yet aside from studies of the Great Famine, it has been neglected by historians of Ireland. Examining rates of excess mortality across post-Famine Ireland reveals that the Land War crisis of 1877-1882, a transformational period, was one of the worst public health crises of modern Irish history. In fact, during the years 1878-1880 excess mortality levels were much higher than during any other period from when registration records began in 1864 up to the present day. Western regions, particularly Co. Mayo, have long been considered the worst affected by this crisis, but from the perspective of excess mortality, we establish that this was an islandwide crisis and one that was more severe that previously understood. The study of excess mortality in Irish history has been neglected partly because of some concerns expressed by scholars about the reliability of the source material in the annual statistical reports of the Registrar General. Yet, we document the reliability of the registers by cross-referencing with census returns, demonstrating their accuracy in the 1870s and 1880s, and their importance as sources to provide vital insights and context in modern Irish history. |
| Keywords: | Land War, Excess Mortality, Ireland |
| JEL: | N13 N33 I18 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:qucehw:285352&r=his |
| By: | Elise M. Dermineur (Stockholm University) |
| Keywords: | Economic history, Early modern france |
| Date: | 2023–12–22 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04473857&r=his |
| By: | Emilio Depetris-Chauvin; Ömer Özak |
| Abstract: | We explore the effect of historical ethnic borders on contemporary conflict in Africa. We document that both the intensive and extensive margins of contemporary conflict are higher close to historical ethnic borders. Exploiting variations across artificial regions within an ethnicity’s historical homeland and a theory-based instrumental variable approach, we find that regions crossed by historical ethnic borders have 27 percentage points higher probability of conflict and 7.9 percentage points higher probability of being the initial location of a conflict. We uncover several key underlying mechanisms: competition for agricultural land, population pressure, cultural similarity, and weak property rights. |
| Keywords: | Borders, Conflict, Territory, Property Rights, Landownership, Population Pressure, Migration, Historical Homelands, Development, Africa, Voronoi Tessellation, Thiessen Tessellation |
| JEL: | D74 N57 O13 O17 O43 P48 Q15 Q34 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ioe:doctra:573&r=his |
| By: | Stan Metcalfe (Manchester Institute of Innovation Research, The University of Manchester) |
| Abstract: | This lecture explores the evolution of economics as a discipline during 1870-1920, focusing on the critical question of wealth creation from knowledge. It highlights the tension between understanding economic structures and their transformative growth, with special attention to Alfred Marshall and Joseph Schumpeter's insights on the evolving nature of capitalism and innovation's role in economic development. By contrasting their views — Schumpeter's emphasis on disruptive innovation and Marshall's on gradual change — the lecture underscores the significance of innovation and knowledge in driving economic transformation. This discussion aims to illuminate the complex relationship between knowledge, innovation, and economic dynamics, essential for understanding the workings of modern economies. |
| Keywords: | Economic Evolution, Innovation and Growth, Schumpeter and Marshall, Wealth from Knowledge, Historical Economics |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:bdj:smioir:2024-02&r=his |
| By: | Eve Lamendour (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université, CEREGE - Centre de Recherche en Gestion - UP - Université de Poitiers = University of Poitiers); Paulette Robic (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université) |
| Abstract: | Given the challenge of gender inequality in the workplace, we believe that it is relevant to examine the mechanisms at work in the dysfunction of female entrepreneurship. We believe that it is wise to look at the social representations linked to women's entrepreneurship in the long term, in the process of being constructed and disseminated, to give them a historical reading. To do this, we decided to examine fiction as an element in the construction of the social representations of entrepreneurship and its role in society. We call upon 19th century French, English, and German literatures to show how female entrepreneurial identities are shaped. Our thesis is that the old narrative is still at work in our contemporary societies, preventing women from achieving careers similar to those of men. The selected novels are treated as case studies from which we have identified possible roles for the reader's imagination. Novels, contemporary of the industrial revolutions have not disdained the role of women in the economic world and have detailed how women could have access to the management of companies, at least in fictio |
| Abstract: | Teniendo en cuenta el reto que supone la desigualdad de género en el trabajo, tiene sentido examinar los mecanismos de la disfunción empresarial femenina. El hecho de situar esta investigación en el largo plazo permite estudiar las representaciones sociales vinculadas al empresariado femenino en proceso de construcción y difusión para captar las limitaciones. Para ello, decidimos examinar la ficción como elemento de construcción de las representaciones del empresariado en la sociedad. Recurrimos a la literatura francesa, inglesa y alemana del siglo xix para mostrar cómo se configuran las identidades empresariales femeninas. Nuestra tesis es que la vieja narrativa sigue funcionando en nuestras sociedades contemporáneas, impidiendo a las mujeres alcanzar carreras de liderazgo similares a las de los hombres. Las novelas seleccionadas son tratadas como estudios de caso a partir de los cuales identificamos las funciones que podrían ofrecerse a la imaginación del lector. Hemos desarrollado la observación de que la novela contemporánea de las revoluciones industriales al centrarse en el mundo económico no ha desdeñado el papel de la mujer y hemos detallado cómo las mujeres podrían acceder a la dirección de las empresas, al menos en la ficción. |
| Abstract: | Étant donné l'enjeu que représentent les inégalités hommes-femmes dans le travail, interroger les mécanismes du dysfonctionnement de l'entrepreneuriat féminin paraît judicieux. Inscrire cette recherche dans le temps long permet d'étudier les représentations sociales liées à l'entrepreneuriat féminin « en train de se construire et de se diffuser » afin d'en saisir les pesanteurs. Pour cela, nous décidons d'interroger la fiction en tant qu'élément de construction des représentations de l'entrepreneuriat dans la société. Nous convoquons la littérature du xixe siècle, française, anglaise et allemande, pour donner à voir comment se façonnent les identités entrepreneuriales féminines. Notre thèse est que l'ancien récit est toujours à l'oeuvre dans nos sociétés contemporaines, empêchant les femmes de réaliser des carrières de dirigeantes similaires à celles des hommes. Les romans sélectionnés sont traités comme des études de cas à partir desquels nous avons identifié les rôles qu'il était possible de proposer à l'imagination de la lectrice et du lecteur. Nous avons développé le constat que le roman contemporain des révolutions industrielles, en s'intéressant au monde économique, n'a pas dédaigné le rôle des femmes et avons détaillé comment les femmes pouvaient avoir accès à la direction des entreprises, du moins dans la fiction romanesque. |
| Keywords: | Entrepreneurship, Gender, Representation, Popular culture, History, Espíritu empresarial, Género, Representación, Cultura popular, Historia, Culture populaire, Histoire, Entrepreneuriat, Genre, Représentation |
| Date: | 2023–02–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04470628&r=his |
| By: | Effrosyni Adamopoulou; Elisabetta Olivieri; Eleftheria Triviza |
| Abstract: | This study explores the long-run effects of a temporary scarcity of a consumption good on preferences towards that good once the shock is over. Specifically, we focus on individuals who were children during World War II and assess the consequences of the temporary drop in meat availability they experienced early in life. To this end, we combine new hand-collected historical data on the number of livestock at the local level with microdata on eating habits, health outcomes, and food consumption expenditures. By exploiting cohort and regional variation in a difference-in-differences estimation, we show that individuals who as children were more exposed to meat scarcity tend to consume relatively more meat and spend more on food during late adulthood. Consistent with medical studies on the side effects of meat overconsumption, we also find that these individuals have a higher probability of being obese, having poor self-perceived health, and developing cancer. The effects are larger for women and persist intergenerationally, as the adult children of mothers who experienced meat scarcity similarly tend to overconsume meat. Our results point towards a behavioral channel, where early-life shocks shape eating habits, food consumption, and adult health. |
| Keywords: | preferences, food consumption, early life experiences, gender differences |
| JEL: | D12 I10 N44 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2021_276v2&r=his |
| By: | Bentzen, Jeanet (University of Copenhagen, CAGE, CEPR); Boberg-Fazlic, Nina (TU Dortmund University, CEPR); Sharp, Paul (University of Southern Denmark, CAGE, CEPR); Volmar Skovsgaard, Christian (University of Southern Denmark); Vedel, Christian (University of Southern Denmark) |
| Abstract: | We consider the impact of non-violent religious conflict on firm-level productivity. We zoom in on a Protestant and otherwise very homogeneous country: early twentieth century Denmark. We exploit variation due to the emergence of pietist movements who fought for the hearts and minds of Danes. In the countryside, much of the religious debate concerned whether or not creameries - the main catalyst of the industrial revolution in Denmark - should be closed on Sundays in accordance with the Third Commandment. We construct a rich microlevel dataset for 964 creameries and combine this with various measures of the intensity of the religious conflict. Exploiting variation in preaching by a prominent religious figure, we provide plausibly causal evidence that religious conflict hampered firm-level productivity. Examining the mechanism, we proceed to demonstrate that the reduction in productivity is due to the religious conflict rather than whether or not the factory produced on Sundays. |
| Keywords: | Dairying, Denmark, productivity, religiosity JEL Classification: N33, N34, O12, O13, Z12 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:cge:wacage:696&r=his |
| By: | César Huaroto; Francisco Gallego |
| Abstract: | This paper studies the persistent effect on social unrest of the Mining Mita- a colonial forced labor and migration institution that affected indigenous communities in Peru between 1573 to 1811. Using a geographical regression discontinuity design for identification, we provide causal evidence that Mita areas have experienced higher levels of social unrest since the end of the 18th century. We present a simple conceptual rationale with historical and causal evidence indicating that at least part of the roots of such persistence is cultural. Specifically, people living in Mita districts identify more with the indigenous groups and indigenous institutions, are more likely to speak native languages, are less likely to migrate, and have different beliefs about development and democracy. |
| JEL: | D74 I38 J15 N26 O10 O43 P14 Z10 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ioe:doctra:568&r=his |
| By: | Stéphane Benveniste (Aix-Marseille Univ., CNRS, AMSE, Marseille, France) |
| Abstract: | Dynasties constitute a visible sign of intergenerational persistence and raise questions about the legitimacy of the ruling elite. This paper uses data on graduates of elite colleges to explore the influence of political and business dynasties in France. I link nominative data on 103, 309 graduates of 12 French Grandes ´ Ecoles born between 1931 and 1975 to their professional careers as politicians with national-level mandates or as board members of French firms. Identifying lineage through surnames, I find that sons of political and business leaders were substantially more likely than their graduate peers to pursue elite careers themselves, revealing a social gradient in returns to elite education. Political dynasties were particularly sizeable, although progressively declining. These dynasties also affected the composition of the French elite: fewer dynastical board members were graduates of top colleges than their first-generation colleagues. Yet, they were propelled much younger into top business and political positions. |
| Keywords: | Dynasties, Returns to College Education, intergenerational mobility, Elite Occupations, Politics, Business, Grandes ´ Ecoles. |
| JEL: | I24 I26 J62 D72 M51 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:aim:wpaimx:2410&r=his |
| By: | Mona Morgan-Collins; Wayne Valeria Rueda |
| Abstract: | Previous research identifies that women politicians facilitate other women’s political participation. Can women’s political activism also spur women’s electoral participation? Through the study of the British suffragists, we argue that women activists paved the way for other women’s political participation at the time when women politicians were virtually absent. Constructing a novel micro-level dataset of geocoded data from electoral registers, we leverage a unique historical case of the 1913 Women’s Suffrage Pilgrimage. Using a Differences-in-Differences strategy that compares polling divisions based on the proximity to the Pilgrimage across England, we provide evidence that exposure to the suffragists marching for parliamentary suffrage increased registration of women eligible to vote in local elections. Analyzing contemporary news articles, we then document the pathways through which the suffragists incited other women’s political interest and therefore electoral participation. These findings have implications for the realization of substantive representation after suffrage. |
| Keywords: | Electoral returns; Policy feedback; Public service delivery; Policy experimentation; Education; Political economy; Elections; Randomized controlled trial; Liberia; Information |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:not:notnic:2023-16&r=his |
| By: | Henrique Barros; Rute Martins Caeiro; Sam Jones; Patricia Justino |
| Abstract: | We examine the long-term impact of forced labour on individual risk behaviour and economic decisions. For that, we focus on a policy of coercive cotton cultivation enforced in colonial Mozambique between 1926 and 1961. We combine archival sources about the boundaries of historical cotton concessions with survey data collected specifically for this study. By employing a regression discontinuity design to compare individuals living in areas inside and outside the historical cotton concessions, we document significant disparities in risk aversion and agricultural patterns between communities. |
| Keywords: | Long-run effects, Forced labour, Colonialism, Risk attitudes, Behaviour, Regression discontinuity |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp-2024-12&r=his |
| By: | Pozzi, Lucia; Scalone, Francesco; Raftakis, Michail; Kennedy, Liam |
| Abstract: | Previous studies have identified a link between religious affiliation and child mortality, yet the underlying factors that contributed to this association are not fully understood. This study investigates how religious affiliation might have influenced child mortality in early 20th- century Ireland, having controlled for socio-economic status, literacy, and place of residence at both individual and contextual levels. We utilize the 1911 IPUMS Irish census, indirect techniques, and regression analysis to examine the role of religious affiliation on child mortality. We conduct various OLS regressions, controlling for demographic factors and socioeconomic conditions at both individual and contextual levels. Our results indicate striking differences in child mortality rates among the three major religious denominations in Ireland in the early twentieth century. Catholics recorded the highest child mortality rates, followed by Church of Ireland families, while Presbyterians experienced the best child mortality outcomes. These differences are explained in part by the varying socioeconomic characteristics of each religious group but religious affiliation is also shown to have mattered. For reasons that are not altogether clear, Jewish communities (to compare one of the smaller religious denominations) had lower child mortality rates than any the three major religious denominations. |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:qucehw:285353&r=his |
| By: | Gan Jin; Günther G. Schulze |
| Abstract: | Can historical institutions affect today’s firm innovation? We analyze a historical experiment in 1902, when the foreign-run Chinese Maritime Customs Service (CMC), known for its efficient and transparent governance, took over some of the notoriously corrupt Chinese Native Custom stations and improved their governance. Using a large data set of contemporary industrial firms in China, we show that firms in locations historically affected by the CMC rules exhibit higher innovation intensities today, which can be attributed to the persisting norms of honesty and lawfulness embedded in the CMC institution. They reduce local corruption and stimulate firms’ investment in R&D and training to this day. We identify a causal effect by comparing firms in locations affected by the takeover with firms in similar but unaffected regions nearby. We also use an IV strategy that exploits the takeover criterion, which stipulated that Native Customs stations within a 25 km radius of a CMC customs station could be taken over by the Western powers. |
| Keywords: | innovation, persistence, institutions, corruption, China |
| JEL: | N75 N45 D73 Z10 O31 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10967&r=his |
| By: | Andrew Greenland; James Lake; John Lopresti |
| Abstract: | Against a backdrop of sharply rising inequality, the Tokyo Round of the GATT resulted in a 1.6 percentage point reduction in average US tariffs – larger than CUS-FTA, NAFTA, and the liberalization accompanying the granting of PNTR to China. We construct a novel IV based on the so-called “Swiss formula” that governed Tokyo Round tariff liberalization to provide the first evidence of its effects on imports and inequality. Instrumented tariff reductions explain 17% of the within-industry rise in income inequality between skilled and unskilled workers between 1979 and 1988. This effect is largest in more technology-intensive industries, suggesting a complementarity between trade liberalization and skill-biased technological change. We also show that tariff liberalization in upstream industries produced a shift away from labor more broadly and towards intermediate inputs. Finally, we show that policymakers dampened the observed impact of tariffs on inequality by assigning smaller tariff reductions to industries more reliant on low-skilled labor. |
| Keywords: | tariffs, Tokyo Round, Swiss formula, inequality, skill biased technological change |
| JEL: | F13 F14 F66 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10983&r=his |
| By: | Hirano, Tomohiro; Toda, Alexis Akira |
| Abstract: | This article provides a self-contained overview of the theory of rational asset price bubbles. We cover topics from basic definitions, properties, and classical results to frontier research, with an emphasis on bubbles attached to real assets such as stocks, housing, and land. The main message is that bubbles attached to real assets are fundamentally nonstationary phenomena related to unbalanced growth. We present a bare-bones model and draw three new insights: (i) the emergence of asset price bubbles is a necessity, instead of a possibility; (ii) asset pricing implications are markedly different between balanced growth of stationary nature and unbalanced growth of nonstationary nature; and (iii) asset price bubbles occur within larger historical trends involving shifts in industrial structure driven by technological innovation, including the transition from the Malthusian economy to the modern economy. |
| Keywords: | bubbles attached to real assets; necessity versus possibility; nonstationarity; technological progress; unbalanced growth |
| JEL: | J1 |
| Date: | 2024–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:122042&r=his |
| By: | Pramod Ranjan (Assam University) |
| Abstract: | Triveni Sangh's activities were primarily confined to Bihar, parts of eastern Uttar Pradesh, adjoining Bihar, were also influenced by it. At the political level, the Triveni Sangh's mission was carried forward by the Shoshit Dal, founded by Jagdev Prasad in 1967 in Bihar. |
| Keywords: | Caste, Social justice, Hindi literature, Literature and society, Criticism, त्रिवेणी संघ, मधुकर सिंह, 1930 का दशक, नक्सली नेता जगदीश प्रसाद महतो, चौधरी जेएनपी मेहता, सरदार जगदेव सिंह यादव |
| Date: | 2023–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04463142&r=his |
| By: | Cecilia Garavito (Departamento de Economía de la Pontificia Universidad Católica del Perú.) |
| Abstract: | Salvo algunas economistas como Joan Robinson, y Rosa Luxemburgo, el aporte de las mujeres a la historia del pensamiento económico es muchas veces ignorado o minimizado. Sin embargo, las mujeres escribieron sobre temas económicos durante el siglo XVIII, a pesar de su acceso limitado a la educación. Jane Haldimand fue una de las primeras mujeres europeas en escribir sobre temas económicos, si bien su papel es el de difundir, y de sintetizar a su manera los principios de la economía de la Escuela Clásica. En su libro Conversaciones sobre economía política presenta los principios básicos de la teoría económica clásica en la forma de una conversación entre la señora B y su alumna Caroline. En este libro vemos una síntesis de las ideas de Smith sobre la división del trabajo y el aumento de la riqueza, si bien en su análisis sobre el valor y la distribución del ingreso toma de otras fuentes como Malthus, Ricardo y James Mill, a quienes conoció personalmente. Su teoría de los salarios no es muy distinta a la de Ricardo, mientras que ve los beneficios como todo aquello que obtiene el capitalista independientemente de su fuente. En su análisis del valor, la influencia de Say lleva a Haldimand a una síntesis donde si bien el trabajo es la medida del valor, la demanda tiene un papel más importante que en los clásicos ingleses. En cuanto a su libro Nociones de economía política de John Hopkins, éste es un tratado destinado a los trabajadores agrícolas y obreros, en el cual el personaje principal “comprende”, después de algunos errores, que el sistema capitalista, donde hay patrones y trabajadores, permite que la riqueza de los primeros permita a los segundos obtener ingresos suficientes para vivir. Es una versión alegórica de la “mano invisible” de Smith, escrita en un leguaje que Haldimand cree comprenderán mejor los trabajadores. Asimismo discute temas como la pobreza y el crecimiento demográfico, y el efecto de la introducción de maquinaria sobre el empleo. JEL Classification-JE: B12, B19, B31. |
| Keywords: | Economía clásica, Género, Historia del pensamiento económico. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:pcp:pucwps:wp00524&r=his |
| By: | Gabriele Lucchetti; Alessandro Ruggieri |
| Abstract: | This paper studies how aggregate labor market conditions affect the intra-generational assimilation of immigrants in the hosting country. Using data from the American Community Survey, we leverage variation in the national unemployment rates in the U.S. at the time of arrival of different cohorts of immigrants to identify short- and long-run effects of recessions on their careers. We document that immigrants who enter the U.S. when the labor market is slack face large and persistent earnings reductions: a 1 p.p. rise in the unemployment rate at the time of migration reduces annual earnings by 4.9 percent on impact and 0.7 percent after 12 years since migration, relative to the average U.S. native. Change in the employment composition across occupations with different skill contents is the key driver: were occupational attainment during periods of high unemployment unchanged for immigrants, assimilation in annual earnings would slow down on average by only 3 years, instead of 12. Slower assimilation costs between 1.7 and 2.4 percent of lifetime earnings to immigrants entering the U.S. labor market when unemployment is high. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:not:notgep:2023-09&r=his |
| By: | Philipp Harms (Johannes Gutenberg University Mainz) |
| Abstract: | This is the manuscript of a keynote speech which I gave in October 2023 at a conference that celebrated 30 years of the Polish-German Academic Forum at the Warsaw School of Economics. The text reviews the evolution of globalization in the past decades, covering various dimensions of economic integration and devoting particular attention to the experiences of Poland and Germany. It then discusses the theoretical merits of free trade and international capital mobility, but also its distributional consequences, and eventually summarizes the empirical evidence on the effects of economic globalization. Finally, it sheds light on the recent anti-globalization backlash and analyzes the forces and motivations that determine individuals’ attitudes. The text concludes with the assessment that, if globalization is to persist, it has to be perceived as more than a purely economic project. |
| Date: | 2024–03–26 |
| URL: | http://d.repec.org/n?u=RePEc:jgu:wpaper:2406&r=his |
| By: | Michalopoulos, S; Rauh, C. |
| Abstract: | Why are certain movies more successful in some markets than others? Are the entertainment products we consume reflective of our core values and beliefs? These questions drive our investigation into the relationship between a society’s oral tradition and the financial success of films. We combine a unique catalog of local tales, myths, and legends around the world with data on international movie screenings and revenues. First, we quantify the similarity between movies’ plots and traditional motifs employing machine learning techniques. Comparing the same movie across different markets, we establish that films that resonate more with local folklore systematically accrue higher revenue and are more likely to be screened. Second, we document analogous patterns within the US. Google Trends data reveal a pronounced interest in markets where ancestral narratives align more closely with a movie’s theme. Third, we delve into the explicit values transmitted by films, concentrating on the depiction of risk and gender roles. Films that promote risk-taking sell more in entrepreneurial societies today, rooted in traditions where characters pursue dangerous tasks successfully. Films portraying women in stereotypical roles continue to find a robust audience in societies with similar gender stereotypes in their folklore and where women today continue being relegated to subordinate positions. These findings underscore the enduring influence of traditional storytelling on entertainment patterns in the 21st century, highlighting a profound connection between movie consumption and deeply ingrained cultural narratives and values. |
| Keywords: | Movies, Folklore, Culture, Values, Entertainment, Text Analysis, Media |
| JEL: | N00 O10 P00 Z10 Z11 |
| Date: | 2024–03–11 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2412&r=his |
| By: | Pietro Bomprezzi; Axel Dreher; Andreas Fuchs; Teresa Hailer; Andreas Kammerlander; Lennart Kaplan; Silvia Marchesi; Tania Masi; Charlotte Robert; Kerstin Unfried |
| Abstract: | We investigate the informal influence of political leaders’ spouses on the subnational allocation of foreign aid. Building new worldwide datasets on personal characteristics of political leaders and their spouses as well as on geocoded development aid projects (including new data on 19 Western donors), we examine whether those regions within recipient countries that include the birthplace of leaders’ spouses attract more aid during their partners’ time in office. Our findings for the 1990–2020 period suggest that regions including the birthplaces of political leaders’ spouses receive substantially more aid from European donors, the United States, and China. We find that more aid goes to spousal regions prior to elections and that developmental outcomes deteriorate rather than improve as a consequence. For Western aid but not for China, these results stand in some contrast to those for leader regions themselves. This suggests that aid from Western donors is directed from serving obvious political motives to promoting more hidden ones. |
| Keywords: | informal influence, ODA, favouritism, birth regions, development, political economy |
| JEL: | D72 F35 O19 O47 P33 R11 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10969&r=his |
| By: | Crowley, M. A.; Han, L.; Son, M. |
| Abstract: | Using administrative transactions data from the United Kingdom, we document a swift decline in sterling use among British exporters after the 2016 Brexit vote. Through a novel decomposition, we document most of this decline comes from two sources: (i) continuously-operating firms switching from sterling to dollars or local currencies and (ii) reductions in transactions for sterling-loyal firms. In contrast, new entrants into exporting primarily invoice in sterling before and after the Brexit vote. Our findings provide the first evidence on the quantitative relevance of new channels that contribute to changes in aggregate invoicing shares amidst political upheaval. |
| Keywords: | Invoicing Currency, Trade Transactions, Sterling, Brexit |
| JEL: | F14 F31 F41 |
| Date: | 2024–03–11 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2413&r=his |
| By: | Deng, Kent; Du, Jane |
| Abstract: | It has been commonly believed that economic reforms in the post-Mao Era since 1980 have changed China from autarky to an export-oriented developmental path, accompanied by inward and cheap FDI with advanced foreign technology. This paper challenges this view with quantitative evidence and shows that China’s recent growth has depended heavily on a domestic source of capital coming from newly available household sayings, stemming from (1) state mandatory price control over food as a wage good on the one hand and (2) a fast-growing wage level due to arising labour productivity on the other. |
| Keywords: | developmental state; gradualism; saving-led growth; price overshoot; wage goods; economic transition |
| JEL: | O11 P21 P51 Q18 |
| Date: | 2024–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:wpaper:122355&r=his |
| By: | Yvonne Giesing; Björn Kauder; Lukas Mergele; Niklas Potrafke; Panu Poutvaara |
| Abstract: | We examine how cultural norms shape attitudes toward immigration. Our causal identification relies on comparing students who moved across the East-West border after German reunification with students who moved within former East Germany. Students who moved from East to West became more positive toward immigration. Results are confirmed among students whose move was plausibly exogenous due to national study place allocation mechanisms. Evidence supports horizontal transmission as the difference between East-West movers and East-East movers increases over time and is driven by East German students who often interacted with fellow students. Effects are stronger in less xenophobic West German regions. |
| Keywords: | cultural transmission, migration, attitudes toward immigration, German division and unification, political socialization |
| JEL: | D72 D91 J15 J20 P20 P51 Z10 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10985&r=his |
| By: | Hellwagner, Timon (Institute for Employment Research (IAB), Nuremberg, Germany); Weber, Enzo (Institute for Employment Research (IAB), Nuremberg, Germany ; Univ. Regensburg) |
| Abstract: | "Advanced economies will face population decline in the years and decades to come, particularly among those of working age. Yet, there is little empirical evidence of corresponding labor market implications. Tackling this shortcoming from a historical macroeconomic point of view, we compile a new dataset for sixteen advanced economies, covering demographic and labor market variables on an annual basis from 1875 to 2019. Based on a dynamic, nonlinear econometric model, we identify structural population shocks by using lagged births as external instruments for working-age population inflows and outflows, and trace the economic effects conditionally on the demographic regime. Our results suggest regime-specific differences: First, population decline quickly passes through to the labor market, translating into swifter disinvestment and decline in employment, but the effects of population growth take time. Second, in times of population decline, labor force participation increases as a response to reduced labor supply. Likewise, initially swift disinvestment tendencies decelerate. Consequently, we find only incomplete capital adjustment. Third, despite a declining labor supply, we find neither a decrease in unemployment nor any significant changes in wages as indicators of shortage. Finally, while population decline tends to depress total factor productivity, as also suggested by the literature, our results indicate that negative effects for economic growth are mitigated by increases in participation and the capital-labor ratio." (Author's abstract, IAB-Doku) ((en)) |
| Keywords: | IAB-Open-Access-Publikation |
| JEL: | E22 E24 J11 J21 |
| Date: | 2024–03–15 |
| URL: | http://d.repec.org/n?u=RePEc:iab:iabdpa:20245&r=his |
| By: | Andre Moulin (CPN - Centre Pierre Naville - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay) |
| Abstract: | The first characteristic of the capitalist is his objective of monetary accumulation. For this purpose, the first thing to be done is the acquisition of the means of production (which are then profit-making). The second characteristic of capitalism are the rules, the ways of acquiring its means of production for profit. The first characteristic leads to the exploitation of workers, a subject which has been widely studied. The second characteristic leads to the increasing concentration of wealth, a concentration which has been widely observed without considering the rules of acquisition which are the cause, as if they were self-evident. This characteristic also ensures the monopoly of acquisition of the shareholders and thus the wage relationship of subordination to the shareholders, a relationship which considerably facilitates the exploitation of employees. F. Lordon writes nothing else : "Bourgeois democracy is that regime in which one can speak of everything except that which asserts the social power of the bourgeoisie - namely, in the last instance, the private ownership of the means of production, and the particular form of enrollment which it determines: the wage-labour force. With regard to this article, we complete this assertion with other assertions in order to show the aporia of contemporary discourses, including Marxist ones, and to base our proposals for evolution: (1-) "what asserts the social power of the bourgeoisie" is "the private property of the means of production", (2-) what currently founds this ownership is the so-called contribution to these means of the owner-capitalists, only them, and the complete hiding of the contribution of the labour community of the enterprise, which explains the monopoly of acquisition by the capitalist. (3-) the particular form of enrolment determined by the capitalist, because of his exclusive ownership of the means of production, is the wage-labour force. (4-) the taking into account of all the contributions leads to the majority acquisition of the means of production by the labour community, which will enable it to determine other forms of enlistment than the present wage-labour force. It is the purpose of this article (C-1-a) Critique of shareholder and Marxist discourses on acquisition and enrichment processes to present the actual acquisition processes, to discuss the very similar discourses of shareholder and Marxist on these processes and the impact of all these discourses on future developments, the object of article (C-1-b) Acquisition of the means of production is a quick recall of the rules of acquisition and mainly a proposal of evolution, and the object of article (C-1-c) Financial logic vs. productive logic is to well characterize in the production processes the logic of production and the financial logic. More precisely, this article (1-) distinguishes the two stakeholders in this production when it is for profit, namely the shareholders and the work community of the company, (2-) distinguishes the "means of production" and the "goods and services" produced and made available thanks to these means, (3-) presents some acquisition processes showing the poor contribution of the shareholder who is nevertheless the sole owner, (4-) explains the juridical artifice allowing this, (5-) discusses some discourses about the profitability of capital, (6-) discusses some writings of Marx and Marxists to show the lack of coherence in their discourses about the rules of acquisition of the means of production and the role of the labour community, (7-) considers some proposed evolutions with regard to all these writings and our analysis. |
| Abstract: | La première caractéristique du capitaliste est son objectif d'accumulation monétaire1. Pour cela, la première chose à faire est l'acquisition des moyens de production (qui sont alors à but lucratif). La deuxième caractéristique du capitalisme sont les règles, les méthodes d'acquisition de ses moyens de production à but lucratif dont nous avons présenté les conséquences en introduction. La première caractéristique pousse à l'exploitation des travailleurs, sujet largement étudié. La deuxième caractéristique conduit à la concentration de plus en plus grande des patrimoines, concentration largement constatée sans pour autant considérer les règles d'acquisition qui en sont la cause, comme si elles allaient de soi. Cette caractéristique2 assure également le monopole de l'acquisition aux actionnaires et donc le rapport salarial de subordination aux actionnaires, rapport qui facilite grandement l'exploitation des salariés. F. Lordon n'écrit pas autre chose3 : « La démocratie bourgeoise est ce régime où l'on peut parler de tout à l'exception de ce qui assoit le pouvoir social de la bourgeoisie — à savoir, en dernière instance, la propriété privée des moyens de production, et la forme particulière d'enrôlement qu'elle détermine : le salariat. Au regard de cet article, nous complétons cette affirmation par d'autres affirmations pour montrer l'aporie des discours actuels, y compris marxistes, et fonder nos propositions d'évolution : (1-) « ce qui assoit le pouvoir social de la bourgeoisie », c'est « la propriété privée des moyens de production », (2-) ce qui fonde actuellement cette propriété, c'est la soi-disante contribution à ces moyens des propriétaires- capitalistes, d'eux seuls, et l'occultation complète de la contribution du collectif de travail de l'entreprise d'où le monopole de l'acquisition par le capitaliste. (3-) la forme particulière d'enrôlement déterminé par le capitaliste, du fait de sa propriété exclusive des moyens de production, est le salariat. (4-) la prise en compte de toutes les contributions conduit à l'acquisition majoritaire des moyens de production par le collectif de travail ce qui lui permettra de déterminer d'autres formes d'enrôlement que le salariat actuel. C'est l'objet de cet article (C-1-a) Critique des discours actionnarial et marxiste sur des procédés d'acquisition et d'enrichissement que de présenter les procédés actuels d'acquisition, de discuter les discours, très proches, actionnarial et marxistes sur ces procédés et l'impact de tout cela sur les évolutions à venir, l'objet de l'article (C-1-b) Acquisition des moyens de production étant un rapide rappel des règles d'acquisition et surtout une proposition d'évolution, et l'objet de l'article (C-1-c) Logique financière vs logique productive étant de bien caractériser dans les process de production la logique de production et la logique financière. Plus précisément, cet article (1-) distingue les deux parties prenantes de cette production lorsqu'elle est à but lucratif, à savoir les actionnaires et le collectif de travail de l'entreprise, (2-) distingue les « moyens de production » et les « biens et services » produits et mis à disposition grâce à ces moyens, (3-) présente quelques procédés d'acquisition montrant la maigre contribution de l'actionnaire pourtant seul propriétaire, (4-) explicite l'artifice juridique permettant cela, (5-) discute quelques discours quant à la rentabilité du capital, (6-) discute quelques écrits de Marx et de marxistes pour montrer l'aporie de leurs discours quant aux règles d'acquisition des moyens de production et au rôle du collectif de travail, (7-) considère des évolutions proposées4 au regard de tous ces écrits et de notre analyse. |
| Keywords: | salariés, moyens de production, actionnariat, finance, capitalisme, propriété, effet de levier |
| Date: | 2024–02–22 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02335902&r=his |
| By: | Masashi Goto (Research Institute for Economics and Business Administration, Kobe University, JAPAN) |
| Abstract: | This early-stage study explores how traditional expert craft occupations, continuing through the pre-modern age, can maintain and transfer expert knowledge today. A literature review was conducted on Toji (Japanese sake master brewer), revealing (1) its organising with craft unions (an organizational form for craft expert occupations) after the Meiji restoration and (2) drastic changes with decreasing Toji population in the last five decades. The analysis identifies three factors that potentially contribute to the sustainability of expert craft occupation's knowledge maintenance and transfer: (a) hybrid organising integrated with the corporate and government sector, (b) formation of open communities of innovation-oriented craft workers and (c) new technologies substituting tacit human knowledge. |
| Keywords: | Craft union; Traditional craft; Occupation; Sake; Toji |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:kob:dpaper:dp2024-07&r=his |
| By: | Murau, Steffen |
| Abstract: | Dieser Aufsatz zeichnet den Wandel der monetären Architektur und der damit einhergehenden Praxis der Emission von Staatsanleihen in Preußen und dem Deutschen Kaiserreich von 1740 bis 1914 nach, um die zeitgenössischen Vorstellungen über das angemessene Verhältnis zwischen dem Finanzministerium, der Zentralbank und dem privaten Bankensystem in Fragen der Emission von Staatsschulden zu beleuchten. Dazu werden drei Institutionen als "Protagonisten" diskutiert - die Preußisch Königliche Bank, die Seehandlung und die Disconto-Gesellschaft - und durch vier Phasen der preußischen und deutschen Geschichte begleitet: das feudale Preußen von Friedrich II. bis zur Niederlage gegen Napoleon (1740-1806); von den Stein-Hardenberg'schen Reformen bis zur Märzrevolution (1807-1848); das nachrevolutionäre Preußen mit dem Aufstieg Bismarcks, seinen drei Kriegen und der Gründung des Deutschen Kaiserreiches (1849-1871); und Preußen im Deutschen Kaiserreich in der ersten Ära der Globalisierung (1871-1914). Vor dem Hintergrund der monetären Architektur als konzeptionellem Rahmen ergeben sich aus der Analyse drei wesentliche Erkenntnisse. Erstens haben bilanzexterne Fiskalagenturen (off-balance-sheet fiscal agencies, OBFAs) schon eine Schlüsselrolle bei der Emission und Verwaltung von Staatsanleihen gespielt, bevor sich Zentralbanken und Finanzministerien im modernen Sinne entwickelt hatten. Dies wird an der institutionellen Rolle der Seehandlung deutlich, die während der Napoleonischen Kriege als Erste mit der Emission von preußischen Staatsanleihen begann. Zweitens haben Zentralbanken innerhalb des öffentlich-privaten Spektrums im Laufe der Zeit ihre Rolle verändert. Die staatliche Preußische Königliche Bank wurde durch die Umwandlung in die hybride Preußische Bank wesentlich funktionstüchtiger und besser zu kontrollieren. Als sie 1875 in die Reichsbank umgewandelt wurde, entschied man sich für eine vollständig private Eigentümerstruktur. Drittens führten die wirtschaftliche Liberalisierung nach 1848 und die zunehmende notwendige Nutzung privater Mittel für die Kriegsfinanzierung zum Aufkommen der Konsortialemission von Staatsanleihen. Die Disconto-Gesellschaft, die eine zentrale Rolle im Preußen-Konsortium und im Reichsanleihekonsortium spielte, war führend daran beteiligt, ein neues Verhältnis zwischen privaten Finanzinstituten und dem Staat zu etablieren. |
| Keywords: | Fiskalpolitik, Verschuldung, Institutionen, Geschichte |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:dzimps:285320&r=his |
| By: | Cecilia Garavito (Departamento de Economía de la Pontificia Universidad Católica del Perú.) |
| Abstract: | El objetivo de este artículo es estimar el coeficiente de Okun para Lima en el periodo 1970 –2021. Lo hacemos por medio de la ecuación en brechas con respecto al producto potencial y a la tasa de desempleo natural; y la relación entre cambios en la tasa de desempleo y cambios en el producto no primario. Estimamos también ecuaciones distintas en el auge y en la recesión para ver si los coeficientes son asimétricos en el auge y en la recesión. Sobre la base de los datos de la Encuesta de Niveles de Empleo para Lima Metropolitana y de la Encuesta Nacional de Hogares, estimamos un coeficiente de Okun de -0.0002; asimismo encontramos que existe cierta asimetría en el ciclo, donde el coeficiente es de 0.0002 en la recesión y 0.0001 durante el auge. Las razones de estos coeficientes tan bajos estarían relacionadas al comportamiento de la fuerza laboral, a los cambios en las leyes laborales, y a la débil relación entre el producto y el empleo. JEL Classification-JE: E23, J08. |
| Keywords: | Desempleo, Empleo, Ley de Okun, Mercado de trabajo, Producto bruto interno. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:pcp:pucwps:wp00519&r=his |
| By: | Jorge Rojas (Departamento de Economía de la Pontificia Universidad Católica del Perú.) |
| Abstract: | Desde la década de 1970, la evolución de la economía mundial se ha dado en el marco de una globalización neoliberal, que ha tenido como ingredientes básicos la liberalización comercial, la desregulación financiera y la integración multinacional de los procesos productivos (supply chains). Este proceso de globalización neoliberal está siendo afectado por tres fenómenos de suma importancia, los cuales son el deterioro ambiental, el estancamiento secular de los países ricos, y la emergencia económica china. Discutimos en este ensayo la tesis de que la conjunción de estos tres fenómenos está en estos momentos estimulando un proceso de reordenamiento geopolítico global. O sea, sería la conjunción de la debilidad de las potencias dominantes y la vigorosidad de una potencia emergente lo que haría factible ahora tal reordenamiento, el cual actualmente presenta dos opciones: desglobalización y reglobalización. JEL Classification-JE: F13, F33, F43, F51, F6, G01, G15, O10, Q3, Q55, Q56. |
| Keywords: | Crisis financieras, estancamiento secular, financiarización, globalización, guerras, medio ambiente, neoliberalismo, orden geopolítico, recursos naturales. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:pcp:pucwps:wp00526&r=his |
| By: | Andre Moulin (CPN - Centre Pierre Naville - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay) |
| Abstract: | This article, while confirming the great interest of spinozist approaches to the state and the currency of A. Orléan and F. Lordon, discusses their analysis which seems to ignore The Reason. Two texts are discussed: the description on the EHESS website of F. Lordon's seminar "structuralism of passions", the article "Genesis of the State and Genesis of the Currency " of A. Orléan and F. Lordon. This article is based on article (B-2) "Fundamental Premises for any SHS" and above all on article (A-3) criticising Spinoza's Reason and introducing multiple reasons in his works. In the two texts discussed, Reason is never mentioned: on the one hand there are feelings and on the other hand human institutions (" Majuscule institutions", money, etc.). By taking up the Spinozist criteria of the "true ", both (a-) the concept of the "State of a mercantile nature", and (b-) the feelings lent to merchants, to explain the supposed things put in place are not proven propositions, in the sense given in Ethics, but premises to be accepted or rejected .... according to our own feelings as readers. For our part, we accept them with pleasure. We accept them more easily because we will then replace the Reason according to Spinoza with the reasons we propose in the article (A-3) criticising Spinoza's Reason and introducing multiple reasons in his works, before mobilising them to better document the spinozist intuitions of these two authors. |
| Abstract: | Cet article, tout en confirmant le grand l'intérêt des approches spinozistes de l'État et de la monnaie de A. Orléan et F. Lordon, discute leur analyse qui semble ignorer La Raison. Deux écrits sont discutés : la présentation sur le site de l'EHESS du séminaire « structuralisme des passions » de F. Lordon, l'article « Genèse de l'État et genèse de la monnaie »1 de A. Orléan et F. Lordon. Cet article repose sur l'article (B-2) « Prémisses fondamentales pour toute SHS » et surtout sur l'article (A-3) critique de la Raison chez Spinoza et introduction de raisons multiples dans ses ecrits. Dans les deux écrits discutés, la Raison n'est jamais évoquée: il y a d'une part des sentiments et d'autre part des institutions humaines (« Institution majuscule », monnaie, etc..). En reprenant les critères spinozistes du « vrai »2, aussi bien (a-) le concept de « État de nature marchande », que (b-) les sentiments prêtés aux marchands, pour expliquer les choses présumées mises en place ne sont pas des propositions démontrées, au sens donné dans l'Éthique, mais des prémisses à accepter ou à rejeter …. selon nos propres sentiments de lecteur. Pour notre part, nous les acceptons avec plaisir. Nous les acceptons d'autant mieux que nous remplaçons ensuite la Raison selon Spinoza par les raisons que nous proposons dans l'article (A-3) critique de la Raison chez Spinoza et introduction de raisons multiples dans ses ecrits, avant de mobiliser ceux-ci pour mieux étayer les intuitions spinozistes de ces deux auteurs. |
| Keywords: | philosophie, Socio-économie, capitalisme, Spinoza, raisons, sentiments, passions, monnaie |
| Date: | 2024–02–22 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02529252&r=his |
| By: | Parrado, Eric |
| Abstract: | This paper introduces a novel monetary policy framework where the exchange rate becomes the central instrument. Using Singapore as a case study, it explores the Monetary Authority's adoption of the exchange rate as the primary tool since 1981, diverging from conventional approaches centered on interest rates or monetary aggregates. The estimated exchange rate reaction function aligns well with actual deviations, supporting the hypothesis that Singapore's forward-looking policy rule effectively responds to inflation and output volatility, especially during economic crises. This framework offers a promising alternative for countries with open economies and challenges in implementing traditional interest rate instruments. |
| Keywords: | exchange rate;Inflation;monetary policy rules;Singapore |
| JEL: | E31 E52 E58 F41 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:idb:brikps:13347&r=his |
| By: | Félix Jiménez (Departamento de Economía de la Pontificia Universidad Católica del Perú.); José Oscátegui (Departamento de Economía de la Pontificia Universidad Católica del Perú.); Marco Arroyo (Pontificia Universidad Católica del Perú.) |
| Abstract: | Analizando la experiencia de crecimiento económico de Perú entre 1993-2021, este documento muestra: a) metodológicamente, el uso correcto del Método de Control Sintético (SCM); y, b) analíticamente, que el alto crecimiento económico de Perú entre 2002-2016 no tiene ninguna relación con la Constitución Política de 1993 (CP93), sino con el Superciclo de los Precios de las Materias Primas en particular, de los minerales que duró algo más de una década, desde 2002-2003. Nuestros resultados son abiertamente diferentes de los obtenidos por Waldo Mendoza en Constitución y Crecimiento Económico 1993-2021. Además, en consonancia con el papel del superciclo, en este trabajo se analizan las consecuencias del modelo, política y económicamente extractivista, establecido en el Perú desde 1990. JEL Classification-JE: A12, B5, C23, C61, D02, D72, D83, O40, O43 |
| Keywords: | Método de control sintético, Evaluación del impacto de laspolíticas, Modelos de efecto del tratamiento, Crecimiento económico, Economíapolítica, economía institucional. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:pcp:pucwps:wp00522&r=his |