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Lane, Philip R.; Tornell, Aaron - C.E.P.R. Discussion Papers - 1998

We analyse an economy that lacks a strong legal-political institutional infrastructure and is populated by multiple powerful groups. Powerful groups dynamically interact via a fiscal process that effectively allows open access to the aggregate capital stock. In equilibrium, this leads to slow...

Persistent link: https://www.econbiz.de/10005662300

Made in America? The New World, the Old, and the Industrial Revolution

Clark, Gregory; O'Rourke, Kevin Hjortshøj; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2008

have placed an emphasis on the importance of trade with New World colonies, and the expanded supply of raw cotton it … provided. We test both hypotheses using calibrated general equilibrium models of the British economy and the rest of the world … trade with the rest of the world, not the American colonies, that allowed Britain to export its rapidly expanding textile …

Persistent link: https://www.econbiz.de/10005497925

The growing dependence of Britain on trade during the Industrial Revolution

Clark, Gregory; O'Rourke, Kevin Hjortshøj; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2014

trade in explaining British living standards or growth rates. We construct a three-region model of the world in which … Britain trades with North America and the rest of the world, and calibrate the model to data from the 1760s and 1850s. We find …

Persistent link: https://www.econbiz.de/10011083876

Productivity, Tradability and the Long-Run Price Puzzle

Bergin, Paul R; Glick, Reuven; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2004

Long-run cross-country price data exhibit a puzzle. Today, richer countries exhibit higher price levels than poorer countries, a stylized fact usually attributed to the ‘Balassa-Samuelson’ effect. But looking back 50 years, or more, this effect virtually disappears from the data. What is...

Persistent link: https://www.econbiz.de/10005666451

Is the Washington Consensus Dead? Growth, Openness, and the Great Liberalization, 1970s-2000s

Estevadeordal, Antoni; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2008

According to the Washington Consensus, developing countries’ growth would benefit from a reduction in tariffs and other barriers to trade. But a backlash against this view now suggests that trade policies have little or no impact on growth. If "getting policies right" is wrong or infeasible,...

Persistent link: https://www.econbiz.de/10005666812

The Structure of Protection and Growth in the Late 19th Century

Lehmann, Sibylle H.; O'Rourke, Kevin Hjortshøj - C.E.P.R. Discussion Papers - 2008

Many papers have explored the relationship between average tariff rates and economic growth, when theory suggests that the structure of protection is what should matter. We therefore explore the relationship between economic growth and agricultural tariffs, industrial tariffs, and revenue...

Persistent link: https://www.econbiz.de/10005791289

No Price Like Home: Global House Prices, 1870-2012

Knoll, Katharina; Schularick, Moritz; Steger, Thomas - C.E.P.R. Discussion Papers - 2014

World War II dramatic reductions in transport costs expanded the supply of land and suppressed land prices. Since the mid-20 …

Persistent link: https://www.econbiz.de/10011083382

Consensual and Conflictual Democratization, Rule of Law, and Development

Cervellati, Matteo; Fortunato, Piergiuseppe; Sunde, Uwe - C.E.P.R. Discussion Papers - 2007

This paper investigates the endogenous emergence of democracy and rule of law in an economy where heterogeneous individuals can get involved in predation activities. Decisions about public policies concern the extent of fiscal redistribution and property rights, whose costs depend on the extent...

Persistent link: https://www.econbiz.de/10005666567

The Early Modern Great Divergence: Wages, Prices and Economic Development in Europe and Asia, 1500-1800

Broadberry, Stephen N; Gupta, Bishnupriya - C.E.P.R. Discussion Papers - 2005

Contrary to the claims of Pomeranz, Parthasarathi and other ‘world historians’, the prosperous parts of Asia between …

Persistent link: https://www.econbiz.de/10005666692

Human Genetic Diversity and Comparative Economic Development

Ashraf, Quamrul; Galor, Oded - C.E.P.R. Discussion Papers - 2008

This research contributes to the understanding of human genetic diversity within a society as a significant determinant of its economic development. The hypothesis advanced and empirically examined in this paper suggests that there are socioeconomic trade-offs associated with genetic diversity...

Persistent link: https://www.econbiz.de/10005123897