This paper analyses the reduction of biochemical oxygen demand (BOD) emissions in the Swedish pulp and paper industry between 1969-1989. To that end, I have constructed pollution records for a large sample of Swedish chemical pulp producers and decomposed the observed changes in BOD emissions into (i) scale, (ii) technique, (iii) composition, and (iv) plant entry and (v) plant exit effects. In contrast to previous decomposition analyses of industrial pollution reduction, which have mainly emphasised the technique effect and/or compositional changes across surviving plants, this study finds that the majority of the pollution reduction was due to the exit of numerous (predominantly emission-intensive sulfite) plants, in combination with a continuous reallocation of production from such plants towards the surviving (predominantly sulfate) plants. The divergence in results can be attributed to the industry’s market structure, which is an important factor to consider when assessing the potential for successful pollution reduction.
{"title":"Industry restructuring and environmental performance – Decomposing the drivers of water pollution reduction in the Swedish pulp and paper industry, 1969-1989","authors":"Lars Karlsson","doi":"10.33063/upeh.v3i.610","DOIUrl":"https://doi.org/10.33063/upeh.v3i.610","url":null,"abstract":"This paper analyses the reduction of biochemical oxygen demand (BOD) emissions in the Swedish pulp and paper industry between 1969-1989. To that end, I have constructed pollution records for a large sample of Swedish chemical pulp producers and decomposed the observed changes in BOD emissions into (i) scale, (ii) technique, (iii) composition, and (iv) plant entry and (v) plant exit effects. In contrast to previous decomposition analyses of industrial pollution reduction, which have mainly emphasised the technique effect and/or compositional changes across surviving plants, this study finds that the majority of the pollution reduction was due to the exit of numerous (predominantly emission-intensive sulfite) plants, in combination with a continuous reallocation of production from such plants towards the surviving (predominantly sulfate) plants. The divergence in results can be attributed to the industry’s market structure, which is an important factor to consider when assessing the potential for successful pollution reduction.","PeriodicalId":307085,"journal":{"name":"Uppsala Papers in Economic History","volume":"62 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141102156","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper engages with the literature that has looked at the historical response to climate change among industries positioned to have had a far-reaching impact on changing the course of the climate crisis. While much of the historical research in this domain has focused on the role of big oil companies, the utility industry and conservative think tanks in the manufacturing of doubt regarding climate science and opposing ambitions climate policies, our focus is on the International Chamber of Commerce (ICC) – the world’s largest transnational business association. Unlike individual multinational corporations, the ICC developed a close ties and collaborations with the United Nations Environment Programme (UNEP), which made ICC positioned to influence international policy discussions. This study finds that the ICC developed a dual strategy, which set aside climate change as the focus for discussion and business action. One strategy, led by ICC Environment Committee, involved intense collaboration with the United Nations and developing a business agenda for sustainable development. At the same time, the creation of the International Panel of Climate Change (IPCC) in 1988 and the Intergovernmental Negotiating Committee for a Framework Convention on Climate Change (INC) in 1991, gave rise to a parallel strategy, led by ICC’s related oil companies. As this study finds, the ICC’s Energy Committee developed close ties to the Global Climate Coalition, a front group designed to combat the scientific evidence of climate change. The paper concludes that the ICC was able to delay meaningful regulatory response to climate change the between 1988-1992 by forming a broad coalition of competing interests and collaborating with agencies established under the auspices of the United Nations.
{"title":"Business In (Action): The International Chamber of Commerce and Climate Change from Stockholm to Rio","authors":"A. Bergquist, Thomas David","doi":"10.33063/upeh.v3i.592","DOIUrl":"https://doi.org/10.33063/upeh.v3i.592","url":null,"abstract":"This paper engages with the literature that has looked at the historical response to climate change among industries positioned to have had a far-reaching impact on changing the course of the climate crisis. While much of the historical research in this domain has focused on the role of big oil companies, the utility industry and conservative think tanks in the manufacturing of doubt regarding climate science and opposing ambitions climate policies, our focus is on the International Chamber of Commerce (ICC) – the world’s largest transnational business association. Unlike individual multinational corporations, the ICC developed a close ties and collaborations with the United Nations Environment Programme (UNEP), which made ICC positioned to influence international policy discussions. This study finds that the ICC developed a dual strategy, which set aside climate change as the focus for discussion and business action. One strategy, led by ICC Environment Committee, involved intense collaboration with the United Nations and developing a business agenda for sustainable development. At the same time, the creation of the International Panel of Climate Change (IPCC) in 1988 and the Intergovernmental Negotiating Committee for a Framework Convention on Climate Change (INC) in 1991, gave rise to a parallel strategy, led by ICC’s related oil companies. As this study finds, the ICC’s Energy Committee developed close ties to the Global Climate Coalition, a front group designed to combat the scientific evidence of climate change. The paper concludes that the ICC was able to delay meaningful regulatory response to climate change the between 1988-1992 by forming a broad coalition of competing interests and collaborating with agencies established under the auspices of the United Nations.","PeriodicalId":307085,"journal":{"name":"Uppsala Papers in Economic History","volume":"31 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140413172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article examines the case of South Korea, in which the external private debt management leveraged the symbiosis of the authoritarian regime and the neoliberal policies in a less-developed country. In the pursuit of post-war growthamship, against the meddling of allies with official loans, the military government turned to the Eurocurrency market, an offshore market for major currencies to meet the triple goal of diversifying foreign reserve sources, financing the heavy-chemical industrialization, and underpinning the diplomatic struggle against North Korea. The dependence on the Euro-capital empowered technocrats at the Economic Planning Board to manage the sovereign borrower’s external indebtedness. Against the neo-mercantilist policy, they introduced price stability measures and maintained low debt-service-ratio so as to appease international banks and international financial organizations. Their success enabled the military government to eschew the debt crisis of 1982 and bolstered the legitimacy of the military government. In return, the technocrats resorted to the authoritarian rule to implement market-oriented policies against the labor the neo-mercantilist interests. Drawing on multi-archival sources, this article engages to the burgeoning scholarship on the relations between international banks and authoritarian regimes by analyzing the external debt-driven neoliberal turn in the developing world.
{"title":"A virtuous debtor: South Korea in the Eurocurrency market, 1969 – 1984","authors":"Seung Woo Kim","doi":"10.33063/upeh.v3i.581","DOIUrl":"https://doi.org/10.33063/upeh.v3i.581","url":null,"abstract":"This article examines the case of South Korea, in which the external private debt management leveraged the symbiosis of the authoritarian regime and the neoliberal policies in a less-developed country. In the pursuit of post-war growthamship, against the meddling of allies with official loans, the military government turned to the Eurocurrency market, an offshore market for major currencies to meet the triple goal of diversifying foreign reserve sources, financing the heavy-chemical industrialization, and underpinning the diplomatic struggle against North Korea. The dependence on the Euro-capital empowered technocrats at the Economic Planning Board to manage the sovereign borrower’s external indebtedness. Against the neo-mercantilist policy, they introduced price stability measures and maintained low debt-service-ratio so as to appease international banks and international financial organizations. Their success enabled the military government to eschew the debt crisis of 1982 and bolstered the legitimacy of the military government. In return, the technocrats resorted to the authoritarian rule to implement market-oriented policies against the labor the neo-mercantilist interests. Drawing on multi-archival sources, this article engages to the burgeoning scholarship on the relations between international banks and authoritarian regimes by analyzing the external debt-driven neoliberal turn in the developing world.","PeriodicalId":307085,"journal":{"name":"Uppsala Papers in Economic History","volume":"77 5-6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140510398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
When did Sweden become equal? This question has far-reaching implications for our understanding of Swedish history, as well as for theories about inequality, institutions, and politics more broadly. In this article, we present the first multidimensional comparative analysis of the development of inequality in Sweden. Unlike most other studies, we combine a variety of measures to provide a more comprehensive view of inequality. Our findings reveal that, although the share of income and wealth accruing to the absolute top was very high at the beginning of the 20th century, Sweden was more equal than many other countries when focusing on the lower parts of the income distribution. Additionally, several indicators suggest that the decline in inequality began in the decades before the turn of the 19th century. These results imply that the development of the Swedish welfare state was both a cause and a consequence of decreasing inequality. We emphasize the importance of widespread access to education as a key factor in shaping distributional outcomes.
{"title":"How Deep are the Roots of Swedish Egalitarianism? A multidimensional approach","authors":"Johan Ericsson, Jakob Molinder","doi":"10.33063/upeh.v3i.580","DOIUrl":"https://doi.org/10.33063/upeh.v3i.580","url":null,"abstract":"When did Sweden become equal? This question has far-reaching implications for our understanding of Swedish history, as well as for theories about inequality, institutions, and politics more broadly. In this article, we present the first multidimensional comparative analysis of the development of inequality in Sweden. Unlike most other studies, we combine a variety of measures to provide a more comprehensive view of inequality. Our findings reveal that, although the share of income and wealth accruing to the absolute top was very high at the beginning of the 20th century, Sweden was more equal than many other countries when focusing on the lower parts of the income distribution. Additionally, several indicators suggest that the decline in inequality began in the decades before the turn of the 19th century. These results imply that the development of the Swedish welfare state was both a cause and a consequence of decreasing inequality. We emphasize the importance of widespread access to education as a key factor in shaping distributional outcomes.","PeriodicalId":307085,"journal":{"name":"Uppsala Papers in Economic History","volume":"55 17","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139447041","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A number of central banks have started to investigate the possibility of issuing so-called Central Bank Digital Currencies (CBDCs). The aim may be to compete with cryptocurrencies of different kinds but also to replace digital commercial bank money with central bank issued digital money, i.e. replacing bank money with central bank-issued basemoney. In this paper we study a similar experiment when the Swedish central bank, the Riksbank, in 1903 replaced private banknotes with their own notes. The result of this policy was a massive increase in commercial bank credit due to the increase in base money, spurring the ongoing boom even further. A boom that worsened the 1907 crisis. The result is thus questioning the notion that increased monetary issuance by a monetary authority to replace other financial assets as private money or cryptoassets should lead to increased financial stability – as, in fact, it led to the opposite.
{"title":"Replacing bank money with base money: Lessons for CBDCs from the ending of private banknotes in Sweden","authors":"Anders Ögren","doi":"10.33063/upeh.vi3.181","DOIUrl":"https://doi.org/10.33063/upeh.vi3.181","url":null,"abstract":"A number of central banks have started to investigate the possibility of issuing so-called Central Bank Digital Currencies (CBDCs). The aim may be to compete with cryptocurrencies of different kinds but also to replace digital commercial bank money with central bank issued digital money, i.e. replacing bank money with central bank-issued basemoney. In this paper we study a similar experiment when the Swedish central bank, the Riksbank, in 1903 replaced private banknotes with their own notes. The result of this policy was a massive increase in commercial bank credit due to the increase in base money, spurring the ongoing boom even further. A boom that worsened the 1907 crisis. The result is thus questioning the notion that increased monetary issuance by a monetary authority to replace other financial assets as private money or cryptoassets should lead to increased financial stability – as, in fact, it led to the opposite.","PeriodicalId":307085,"journal":{"name":"Uppsala Papers in Economic History","volume":"240 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127536729","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
As war is an eminently political event, the impact of wars on inequality can be seen as an expression of the politics in society. This paper engages with the ongoing literature relating warfare to wealth inequality dynamics in a pre-industrial world. It employs an unbalanced panel of wills in a combined event study and instrument variables research designs to explore the wealth inequality dynamics in Mexico during the Mexican-American War of 1846-1848. The findings suggest that weak public finances and financial crisis led to increasing wealth inequality through military expenditures and national debt. However, the formation of a regressive fiscal-military state and a levelling effect of warfare can coexist. Inequality depends on how war is financed and how destructive to capital and wealth the war is.
{"title":"A Wicked War","authors":"Diego Castañeda Garza","doi":"10.33063/upeh.vi2.85","DOIUrl":"https://doi.org/10.33063/upeh.vi2.85","url":null,"abstract":"As war is an eminently political event, the impact of wars on inequality can be seen as an expression of the politics in society. This paper engages with the ongoing literature relating warfare to wealth inequality dynamics in a pre-industrial world. It employs an unbalanced panel of wills in a combined event study and instrument variables research designs to explore the wealth inequality dynamics in Mexico during the Mexican-American War of 1846-1848. The findings suggest that weak public finances and financial crisis led to increasing wealth inequality through military expenditures and national debt. However, the formation of a regressive fiscal-military state and a levelling effect of warfare can coexist. Inequality depends on how war is financed and how destructive to capital and wealth the war is.","PeriodicalId":307085,"journal":{"name":"Uppsala Papers in Economic History","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117030227","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The European Central Bank’s activities as lender of last resort are especially controversial in Germany. The overriding concern of the critics is an alleged tendency of creating moral hazard on the side of public and private borrowers in the European Monetary Union. This contrasts with the predominant views among German economists in the classical gold standard era, when the newly founded German empire merged the many currency areas in its realm into monetary union. Prominent experts and policy advisors, such as Erwin Nasse, Adolph Wagner and Friedrich Bendixen, argued that in view of the costs of system failures moral hazard ought not to be a predominant consideration at times of crisis. In critical assessments of the Currency vs. Banking debates in England, German commentators questioned the credibility and sustainability of strict rules for monetary policy in banking crises. Some even developed evolutionary views, in which monetary integration is driven by financial markets and lending of last resort becomes a constitutive characteristic of central banking, in particular in the formation of a monetary union. This paper compares the older German views about lending of last resort in monetary unions with the current discourse and explores possible explanations for the differences.
{"title":"Lending of Last Resort in Monetary Unions","authors":"Hans‐Michael Trautwein","doi":"10.33063/upeh.vi1.84","DOIUrl":"https://doi.org/10.33063/upeh.vi1.84","url":null,"abstract":"The European Central Bank’s activities as lender of last resort are especially controversial in Germany. The overriding concern of the critics is an alleged tendency of creating moral hazard on the side of public and private borrowers in the European Monetary Union. This contrasts with the predominant views among German economists in the classical gold standard era, when the newly founded German empire merged the many currency areas in its realm into monetary union. Prominent experts and policy advisors, such as Erwin Nasse, Adolph Wagner and Friedrich Bendixen, argued that in view of the costs of system failures moral hazard ought not to be a predominant consideration at times of crisis. In critical assessments of the Currency vs. Banking debates in England, German commentators questioned the credibility and sustainability of strict rules for monetary policy in banking crises. Some even developed evolutionary views, in which monetary integration is driven by financial markets and lending of last resort becomes a constitutive characteristic of central banking, in particular in the formation of a monetary union. This paper compares the older German views about lending of last resort in monetary unions with the current discourse and explores possible explanations for the differences.","PeriodicalId":307085,"journal":{"name":"Uppsala Papers in Economic History","volume":"127 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115562591","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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