We evaluate explanations for why Germany grew so quickly in the 1950s. The recent literature has emphasized convergence, structural change and institutional shake-up while minimizing the importance of the post-war shock. We show that this shock and its consequences were more important than...

By analysing a newly compiled database of exchange rates, this paper finds that Central European financial integration advanced in a cyclical fashion over the fifteenth century. The cycles were associated with changes in the money supply. Long-distance financial integration progressed in...

This paper tests whether the so-called ‘reach of the market’ helps to explain ‘why Europe’ and ‘why north-western Europe’. By looking at grain markets from the late seventeenth to the early twentieth century, this study concludes that the process of commodity market integration...

Elementary schooling in North America in the early 20th century underwent major changes with the spread of graded schools with multiple classrooms and teachers to semi-urban and rural areas. Detailed schooling records from British Columbia indicate that pupil attendance responded strongly to the...

This paper explores the dynamics underlying integration of the international grain markets of the nineteenth century. It demonstrates that ‘deep’ integration implied changes to market structures, firm strategies and the commodity being marketed. Coordination within grain markets occurred at...

This paper is a case study about investor behaviour of the government of Berne on capital markets in the 18th century, focussing mainly on London. Economic theory about principal-agent problems and portfolio administration will be used to analyse quantitative and qualitative data from government...