Ora et Guberna. The Economic Impact of Benedict's Rule in Medieval England

We investigate differences in the economic performance of secular and religious local rulers in Medieval England. Exploiting the Norman conquest of England as a historical experiment, we compare economic outcomes of estates controlled by secular feudal landlords, Benedictine monasteries and Bishops. We show that holdings governed by Benedictine monasteries were more productive than those controlled by secular landlords, while those controlled by Bishops are statistically indistinguishable. Collecting data about abbots' biographical information, we provide evidence suggesting that the effect is driven by the selection of the abbot through elections free from external interference. Finally, we rule out alternative potential channels