Cliometrica最新文献

Historical rates of return on investments have received increasing scholarly attention in recent years. Much literature has focused especially on colonies, where institutions have been argued to facilitate severe exploitation. In the present study, we examine the return on investments in an Asian colony, British Malaya, from 1889 to 1969 for a large sample of companies. Our results suggest that the return on investments in Malaya might have been among the highest in the world during the period studied. Nevertheless, this finding fits badly with theories of imperial exploitation and can only to a limited extent be explained by a higher risk premium. Instead, we argue that the main driver of the very high return on investments in Malaya was rather the substantial rise in global market prices of the output of the two main sectors of the Malayan economy, rubber and tin. The way that the process of decolonization unfolded in Malaya did, furthermore, not lead to any major nationalization of foreign-held assets, and did thereby not disrupt the return on investment in the region in the same way as decolonization did to the return on investment in some other colonies.

The work aims to study, using GIS techniques and network analysis, the development of the road network in Spain during the period between the War of Succession and the introduction of the railway (1700-1850). Our research is based on a detailed cartographic review of maps made during the War of Succession, largely improving preexisting studies based on books of itineraries from the sixteenth century onwards. We build a new, complete map of the main roads at the beginning of the eighteenth century along with the matrix of transport costs for all the important towns describing the communications network. Our study of this complex network, supplemented by a counterfactual analysis carried out using a simulation model based on agents using different centralized decision-making processes, allows us to establish three main results. First, existing trade flows at the beginning of the eighteenth century had a radial structure, so the Bourbon infrastructure plan only consolidated a preexisting situation. Second, the development of the network did not suppose important alterations in the comparative centrality of the regions. Finally, the design of the paved road network was adequate for the economic needs of the country. These findings are in stark contrast with claims that the radial structure of the Bourbon roads was designed ex-novo with political or ideological objectives rather than economic ones. Our methodology paves the way to further studies of path-dependent, long-term processes of network design as the key to understanding the true origin of many currently existing situations.

We leverage the largest polio outbreak in US history, the 1916 polio epidemic, to study how epidemic-related school interruptions affect educational attainment. Using polio morbidity as a proxy for epidemic exposure, we find that children aged 10 and under, and school-aged children of legal working age with greater exposure to the epidemic experienced reduced educational attainment compared to their slightly older peers. These reductions in observed educational attainment persist even after accounting for the influenza epidemic of 1918.

While factories are usually thought to have disciplined workers, I find that absence rates at a US textile factory in 1883 were fairly high—9% if breaks up to 4 weeks are considered absences. Women’s absence rates were about 50% higher than those of men. While I find only weak support for economic motives, I find strong support for leisure-related motives for absences. Absences were high near weekends and holidays, and for special events, and absences were less likely when it rained. When studying how much people worked, we should not assume that days worked by employees matched days of operation for the employer.

This paper aims to provide a synthesis of a number of articles that over the last few years have explored the industrialization process in Spain from the perspective of the new economic geography (NEG). To this end, we present some of the seminal theoretical papers of the NEG literature from which originated the main theoretical predictions that have been tested through empirical analysis applied to the case of Spain. We also look at those papers on the economic history of Spain that—through the use of an economic geography framework—have analysed how the location and regional concentration of manufacturing has evolved over the years. Altogether, this paper aims not only to present the determinants of the industrial map of Spain, but also to highlight the positive externalities that stem from the interaction between the NEG and economic history, showing the usefulness of a cliometric approach based on economic theory and empirical testing to give us a more detailed knowledge of the past.