Quelle: http://www.riha-journal.org/articles/2015/2015-jan-mar/valle-transnational-dialogues
Quelle: http://www.tandfonline.com/doi/full/10.1080/00309230.2014.997758?ai=z4&mi=3fqos0&af=R
Quelle: http://www.tandfonline.com/doi/full/10.1080/00309230.2014.997753?ai=z4&mi=3fqos0&af=R
Quelle: http://www.tandfonline.com/doi/full/10.1080/00309230.2014.997750?ai=z4&mi=3fqos0&af=R
Quelle: http://rh19.revues.org/4739
This study investigates the impact of joint-stock banks on the rationalization of the British interwar steel industry. A new panel data set of steel firm characteristics covering 1920–1938 is used to document rationalization and bank involvement, including interlocking directorships, with both found to be more extensive than previously thought. A set of all potential amalgamation pairs is created and used in a logit analysis of the determinants of mergers. Bank involvement with firms increased the probability that a particular merger occurred. Furthermore, mergers with bank involvement differed in their impact on profitability from those without.
Quelle: http://ereh.oxfordjournals.org/cgi/content/short/19/1/88?rss=1
The article presents and discusses estimates of social and economic indicators for Italy and its regions in benchmark years roughly from Unification to the present day: life expectancy, education, gross domestic product (GDP) per capita at purchasing power parity, and the new Human Development Index (HDI). A broad interpretative hypothesis, based on the distinction between "active" and "passive" modernization, is proposed to account for the evolution of regional imbalances. In the lack of active modernization, Southern Italy converged thanks to passive modernization. However, this was more effective in life expectancy, less successful in education, expensive, and as a whole ineffective in GDP. As a consequence, convergence in the HDI occurred from the late nineteenth century to the 1970s, but came to a sudden halt in the last decades of the twentieth century.
Quelle: http://ereh.oxfordjournals.org/cgi/content/short/19/1/44?rss=1
Newly assembled macroeconomic statistics for early modern Portugal reveal one of Europe's most vigorous colonial traders but one of its least successful growth records. Was the empire a blessing or a drag to the economy? Using an estimated dynamic model, we conclude that intercontinental trade had a substantial and increasingly positive impact on economic growth. In the heyday of colonial expansion, eliminating the economic links to empire would have reduced Portugal's per capita income by at least a fifth. While the empire helped the domestic economy, it was not sufficient to annul the tendency of the latter toward decline in relation to Europe's advanced core, which began to set in from the seventeenth century onward, but only became definite after 1800. We conclude that the explanation for Portugal's long-term backwardness must be sought primarily in domestic conditions.
Quelle: http://ereh.oxfordjournals.org/cgi/content/short/19/1/1?rss=1
The recent financial crisis has placed the concept of fiscal dominance at the center of current debates on macro-prudential policies. However, empirical evidence of fiscal dominance, understood as fiscal policy driving monetary policy, has been mixed, especially for low inflation countries. The literature hypothesizes that institutional constraints are the reason for the failure to connect deficits to money and prices in these countries. This paper, focusing on Spain 1874–1998, illustrates their constraining role in two steps. First, a recursive estimation of the link from budget to money shows how the degree of fiscal dominance varied over time. Second, we are able to establish a connection between these changes in the intensity of fiscal dominance and changes in the intensity of the institutional (exchange rate and central bank independence) constraints.
Quelle: http://ereh.oxfordjournals.org/cgi/content/short/19/1/23?rss=1
The persistence of a significant urban–rural wage gap challenges the notion of competitive equilibrium. This paper examines the earnings gap between urban and rural workers in Sweden between 1865 and 1985. Proper measurement by cost-of-living, working hours and unemployment causes most of the nominal gap to disappear. What remains is a long-run equilibrium that was interrupted by major external shocks in the interwar years when the urban wage premium soared. The increase in the wage gap stemmed from asymmetric labor market responses to the external shocks, explained by the dissimilar institutional configurations of the two labor markets.
Quelle: http://ereh.oxfordjournals.org/cgi/content/short/19/1/67?rss=1