Explorations in Economic History最新文献

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Value creating mergers: British bank consolidation, 1885–1925 创造价值的合并:英国银行合并,1885-1925
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2022-01-01 DOI: 10.1016/j.eeh.2021.101422
Fabio Braggion , Narly Dwarkasing , Lyndon Moore
{"title":"Value creating mergers: British bank consolidation, 1885–1925","authors":"Fabio Braggion ,&nbsp;Narly Dwarkasing ,&nbsp;Lyndon Moore","doi":"10.1016/j.eeh.2021.101422","DOIUrl":"10.1016/j.eeh.2021.101422","url":null,"abstract":"<div><p>The British banking sector had many small banks in the mid-nineteenth century. From around 1885 until the end of World War One there was a process of increasingly larger mergers between banks. By the end of the merger wave the English and Welsh market was highly concentrated, with only five major banks. News of a merger brought a persistent rise in the share prices of both the acquiring and the target bank (roughly 1% and 7%, respectively). Non-merging banks, especially those whose local market concentration rose because of the merger, saw their stock prices rise. Our findings suggest that the process of bank consolidation increased collusive behavior among merged banks, to the likely detriment of the consumer.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.eeh.2021.101422","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80514038","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Economically relevant human capital or multi-purpose consumption good? Book ownership in pre-modern Württemberg 经济相关的人力资本还是多用途消费好?前现代<s:1>腾堡州的图书所有权
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2022-01-01 DOI: 10.1016/j.eeh.2021.101418
Sheilagh Ogilvie , Jeremy Edwards , Markus Küpker
{"title":"Economically relevant human capital or multi-purpose consumption good? Book ownership in pre-modern Württemberg","authors":"Sheilagh Ogilvie ,&nbsp;Jeremy Edwards ,&nbsp;Markus Küpker","doi":"10.1016/j.eeh.2021.101418","DOIUrl":"10.1016/j.eeh.2021.101418","url":null,"abstract":"<div><p>We investigate books as an indicator of human capital using extraordinary, individual-level data on book ownership and signature literacy for a population of German women and men between 1610 and 1900. Although book ownership was very high from an early date, it was associated with signature literacy, gender, urbanization, and wealth in ways inconsistent with its having registered economically relevant human capital. The books people owned were overwhelmingly religious, as elsewhere in pre-modern Europe. People consumed books for multifarious purposes, many of them non-economic. In this pre-modern economy, books were not a good indicator of economically relevant human capital for the population at large, which creates doubt about their use for this purpose more generally.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.eeh.2021.101418","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"106063298","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Patterns of specialization and economic complexity through the lens of universal exhibitions, 1855-1900 从万国博览会的视角看专业化模式和经济复杂性,1855-1900
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2022-01-01 DOI: 10.1016/j.eeh.2021.101421
Giacomo Domini
{"title":"Patterns of specialization and economic complexity through the lens of universal exhibitions, 1855-1900","authors":"Giacomo Domini","doi":"10.1016/j.eeh.2021.101421","DOIUrl":"10.1016/j.eeh.2021.101421","url":null,"abstract":"<div><p>The complexity of a country's product mix is related to its economic growth. This paper extends this key insight from the economic growth literature to the second half of the 19<sup>th</sup> century, by reconstructing Revealed Comparative Advantages (RCA) and Economic Complexity Indices (ECI) for tens of polities, including both independent countries and colonies. It does so by exploiting product-polity information from the catalogues of five universal exhibitions, held in Paris in the second half of the 19<sup>th</sup> century (1855, 1867, 1878, 1889, 1900). For this period, exhibition data are available at a more disaggregated level than export data, on which RCA and ECI are typically based. This is the first application of ECI to the pre-Second World War era. A significant relation is observed between ECI, the level of GDP per capita, and the latter's long-run growth. Furthermore, the evolution of RCA and ECI reveals processes of structural change and economic development, notably the emergence of Germany and Switzerland, which developed along the technological paradigms of the second industrial revolution and thus attained positions of technological and economic primacy.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.eeh.2021.101421","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85501509","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
Life after crossing the border: Assimilation during the first Mexican mass migration 越过边境后的生活:第一次墨西哥大规模移民期间的同化
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2021-10-01 DOI: 10.1016/j.eeh.2021.101403
David Escamilla-Guerrero , Edward Kosack , Zachary Ward
{"title":"Life after crossing the border: Assimilation during the first Mexican mass migration","authors":"David Escamilla-Guerrero ,&nbsp;Edward Kosack ,&nbsp;Zachary Ward","doi":"10.1016/j.eeh.2021.101403","DOIUrl":"10.1016/j.eeh.2021.101403","url":null,"abstract":"<div><p>The first mass migration of Mexicans to the United States occurred in the early twentieth century: from smaller pre-Revolutionary flows in the 1900s, to hundreds of thousands during the violent 1910s, to the boom of the 1920s, and then the bust and deportations/repatriations of the 1930s. Using a new linked sample of males, we find that the average Mexican immigrant held a lower percentile rank, based on imputed earnings, than US-born whites near arrival. Further, Mexicans <em>fell</em> behind in the following decade. Mexican assimilation was not uniquely slow since we also find that the average Italian immigrant fell behind at a similar rate. Yet, conditional on geography, human capital, and initial percentile rank, Mexicans had a slower growth rate than both US-born whites and Italians. Mexican assimilation was also remarkably constant throughout various shocks, such as violence in Mexico, migration policy change in the United States, and the Great Depression. We argue that Mexican-specific structural barriers help to explain why Mexican progress was slow and similar across this tumultuous period.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.eeh.2021.101403","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"105862153","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Women at work in the United States since 1860: An analysis of unreported family workers 自1860年以来的美国工作妇女:对未报告的家庭工人的分析
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2021-10-01 DOI: 10.1016/j.eeh.2021.101406
Barry R. Chiswick, RaeAnn Halenda Robinson
{"title":"Women at work in the United States since 1860: An analysis of unreported family workers","authors":"Barry R. Chiswick,&nbsp;RaeAnn Halenda Robinson","doi":"10.1016/j.eeh.2021.101406","DOIUrl":"https://doi.org/10.1016/j.eeh.2021.101406","url":null,"abstract":"<div><p>Estimated labor force participation rates among free women in the pre-Civil War period were exceedingly low. This is due, in part, to cultural or societal expectations of the role of women and the lack of thorough enumeration by Census takers. This paper develops an augmented labor force participation rate for free women in 1860 and compares it with the augmented rate for 1920 and today. Our methodology identifies women who are likely providing informal and unenumerated labor for market production in support of a family business, that is, unreported family workers. These individuals are not coded in the original data as formally working, but are likely to be engaged in the labor force on the basis of the self-employment of other relatives in their household. Unreported family workers are classified into four categories: farm, merchant, craft, and boardinghouse keepers. Using microdata, the inclusion of these workers more than triples the free female labor force participation rate in the 1860 Census from 16 percent to 57 percent, more than doubles the participation rate in the 1920 Census from 24 percent to 50 percent, and has a small effect on the currently measured rate of 56 percent (2015-2019 American Community Survey). This suggests that rather than a steep rise from a very low level in the female labor force participation rate since 1860, it has in fact always been high and fairly stable over time. In contrast, the effect of including unreported family workers in the male augmented labor force participation rate is relatively small.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.eeh.2021.101406","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91625862","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
Transition to agriculture and first state presence: A global analysis 向农业转型和首次国家存在:全球分析
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2021-10-01 DOI: 10.1016/j.eeh.2021.101404
Oana Borcan , Ola Olsson , Louis Putterman
{"title":"Transition to agriculture and first state presence: A global analysis","authors":"Oana Borcan ,&nbsp;Ola Olsson ,&nbsp;Louis Putterman","doi":"10.1016/j.eeh.2021.101404","DOIUrl":"https://doi.org/10.1016/j.eeh.2021.101404","url":null,"abstract":"<div><p>It has often been observed that the emergence of states in a region is typically preceded by an earlier transition to agricultural production. Using new data on the date of first state emergence within contemporary countries, we present a global scale analysis of the chronological relationship between the transition to agriculture and the subsequent emergence of states. We find statistically significant relationships between early reliance on agriculture and state age in all sub-samples and also when we use alternative sources of data at different levels of geographical aggregation. A one millennium earlier transition to agriculture among non-pristine states predicts a 317-430 year earlier state emergence. We uncover differences in cases where states were imposed from outside or when they emerged through internal origination. The agriculture-state lag is on average 3.1 millennia in internally originated (including pristine) states, and 2.7 millennia in externally originated states. We also explore some of the mechanisms through which agriculture is believed to have influenced the emergence of states. Our results indicate that the rise of social classes was often an intermediate step towards the presence of early states.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.eeh.2021.101404","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136533767","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Long-term trends in income inequality: Winners and losers of economic change in Ghana, 1891–1960 收入不平等的长期趋势:加纳经济变革的赢家和输家,1891-1960
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2021-10-01 DOI: 10.1016/j.eeh.2021.101405
Prince Young Aboagye , Jutta Bolt
{"title":"Long-term trends in income inequality: Winners and losers of economic change in Ghana, 1891–1960","authors":"Prince Young Aboagye ,&nbsp;Jutta Bolt","doi":"10.1016/j.eeh.2021.101405","DOIUrl":"https://doi.org/10.1016/j.eeh.2021.101405","url":null,"abstract":"<div><p>This paper contributes to a growing literature on long-term trends and drivers of pre-industrial inequality by providing new stylized facts on the evolution of income inequality in Ghana from 1891 to 1960. Using newly constructed social tables, we estimate the Gini coefficient for seven consecutive decades at a time in which the adoption and expansion of cocoa cultivation transformed the Ghanaian economy. Income inequality was already high in 1891, prior to the spread of cocoa cultivation, and it remained stable for four decades. Following a small decline in the early 1930s, inequality increased, reaching its highest level at the end of the colonial era. The expansion of cocoa cultivation and increasing cocoa incomes contributed to persistent high inequality levels until the 1930s. By contrast, the increase in inequality from 1930 to 1960 was largely due to the rising incomes of government employees, skilled workers, and commercial workers.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.eeh.2021.101405","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91625461","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
What explains patenting behaviour during Britain’s Industrial Revolution? 如何解释英国工业革命期间的专利行为?
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2021-10-01 DOI: 10.1016/j.eeh.2021.101426
Stephen D. Billington
{"title":"What explains patenting behaviour during Britain’s Industrial Revolution?","authors":"Stephen D. Billington","doi":"10.1016/j.eeh.2021.101426","DOIUrl":"10.1016/j.eeh.2021.101426","url":null,"abstract":"<div><p>A recent re-evaluation of patenting during the British Industrial Revolution argues patentees were responsive to demand-side conditions. This view does not consider supply-side factors, such as a patentee’s skill or access to financial resources, as an alternative mechanism. I exploit a rich dataset of patentee occupations to investigate the role a patentee’s economic or social background played in their patenting behaviour. I find skilled patentees were intensive users of the patent system and frequently patented more economically valuable inventions. I also find patent value mattered more than patentee skill for patent extension, which likely indicates the existence of financiers willing to back the acquisition of patents for valuable inventions. The composition of Britain’s patentees, and their use of the system, reasonably relates to the value of the inventions they sought to protect.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.eeh.2021.101426","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74543307","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Patterns of innovation during the Industrial Revolution: A reappraisal using a composite indicator of patent quality 工业革命时期的创新模式:使用专利质量复合指标的再评价
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2021-10-01 DOI: 10.1016/j.eeh.2021.101419
Alessandro Nuvolari , Valentina Tartari , Matteo Tranchero
{"title":"Patterns of innovation during the Industrial Revolution: A reappraisal using a composite indicator of patent quality","authors":"Alessandro Nuvolari ,&nbsp;Valentina Tartari ,&nbsp;Matteo Tranchero","doi":"10.1016/j.eeh.2021.101419","DOIUrl":"https://doi.org/10.1016/j.eeh.2021.101419","url":null,"abstract":"<div><p>The distinction between macro- and microinventions is at the core of recent debates on the Industrial Revolution. Yet, the empirical testing of this notion has remained elusive. We address this issue by introducing a new quality indicator for all patents granted in England in the period 1700–1850. The indicator provides the opportunity for a large-scale empirical appraisal of macro- and microinventions. Our findings indicate that macroinventions did not exhibit any specific time-clustering, while microinventions were characterized by clustering behavior. In addition, we also find that macroinventions displayed a labor-saving bias and were mostly introduced by professional engineers. These results suggest that Allen’s and Mokyr’s views of macroinventions, rather than conflicting, should be regarded as complementary.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.eeh.2021.101419","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91625463","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 16
Estimates of employment gains attributable to beer legalization in spring 1933 1933年春天啤酒合法化带来的就业增长估计
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2021-09-01 DOI: 10.1016/j.eeh.2021.101427
E. Poelmans, Jason E. Taylor, Samuel R. Raisanen, Andrew C. Holt
{"title":"Estimates of employment gains attributable to beer legalization in spring 1933","authors":"E. Poelmans, Jason E. Taylor, Samuel R. Raisanen, Andrew C. Holt","doi":"10.1016/j.eeh.2021.101427","DOIUrl":"https://doi.org/10.1016/j.eeh.2021.101427","url":null,"abstract":"","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81681220","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
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