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three centuries, on long-term development outcomes in Colombia. Despite being a classically extractive institution …We explore the impact of encomienda, a forced-labor institution imposed by the Spanish throughout Latin America during …, municipalities that had encomiendas in 1560 have higher development indicators than otherwise-similar, neighboring municipalities …
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The magnitude of returns to colonial-era investments in Africa has been addressed in an extensive literature, as have the nature and legacies of extractive colonial institutions. However, the link between these institutions and the profitability of firms remains unclear. We reconstruct the...
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