This paper traces the history of the first 25 years of the European Economic History Review (EREH) comparing its initial agenda with its actual publication record and measuring its success with citation data. We rely on a database of all articles published in the EREH and in the four other top field journals from 1997 to 2020. The EREH has been a great success becoming, as planned at its establishment, the main outlet for continental European scholars and expanding somewhat its remit. Nonetheless, EREH needs to do an extra mile to fill the remaining gap with the more established field journals.
{"title":"Spreading Clio: a quantitative analysis of the first 25 years of the European Review of Economic History","authors":"M. Cioni, G. Federico, M. Vasta","doi":"10.1093/ereh/heab018","DOIUrl":"https://doi.org/10.1093/ereh/heab018","url":null,"abstract":"\u0000 This paper traces the history of the first 25 years of the European Economic History Review (EREH) comparing its initial agenda with its actual publication record and measuring its success with citation data. We rely on a database of all articles published in the EREH and in the four other top field journals from 1997 to 2020. The EREH has been a great success becoming, as planned at its establishment, the main outlet for continental European scholars and expanding somewhat its remit. Nonetheless, EREH needs to do an extra mile to fill the remaining gap with the more established field journals.","PeriodicalId":51703,"journal":{"name":"European Review of Economic History","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49271347","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
What shapes and drives capital market development over the long run? In this paper, using the asset portfolios of UK life assurers, we examine the role of regulation, historical contingency, and political reactions to events on the long-run development of the UK capital market. Government response to events such as war, hegemony-secured peace, and the wider macroeconomic environment was the ultimate determinant of major changes in asset allocation since 1800. Furthermore, when we compare the UK with the United States, we find that regulation played a limited role in shaping the asset portfolios of the UK life assurance industry.
{"title":"Capital market development over the long run: the portfolios of UK life assurers over two centuries","authors":"David A Bogle, Christopher Coyle, John D Turner","doi":"10.1093/ereh/heab017","DOIUrl":"https://doi.org/10.1093/ereh/heab017","url":null,"abstract":"What shapes and drives capital market development over the long run? In this paper, using the asset portfolios of UK life assurers, we examine the role of regulation, historical contingency, and political reactions to events on the long-run development of the UK capital market. Government response to events such as war, hegemony-secured peace, and the wider macroeconomic environment was the ultimate determinant of major changes in asset allocation since 1800. Furthermore, when we compare the UK with the United States, we find that regulation played a limited role in shaping the asset portfolios of the UK life assurance industry.","PeriodicalId":51703,"journal":{"name":"European Review of Economic History","volume":"21 1","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138534207","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper presents the estimates of the gross domestic product (GDP) of the Congress Kingdom of Poland for the period 1870–1912. The authors used bottom-up methodology and calculated sectoral added values using historical economic, social, and demographic data. The presented results offer first ever insight into the structure of sectoral added values in the Congress Kingdom of Poland during the period of first globalization and first reliable estimates of GDP of the Congress Kingdom of Poland. All results are presented in Geary–Khamis dollars PPP1990 and are compatible with Maddison dataset.
{"title":"Economic growth on the periphery: estimates of GDP per capita of the Congress Kingdom of Poland (for years 1870–1912)","authors":"P. Koryś, M. Tymiński","doi":"10.1093/ereh/heab016","DOIUrl":"https://doi.org/10.1093/ereh/heab016","url":null,"abstract":"\u0000 This paper presents the estimates of the gross domestic product (GDP) of the Congress Kingdom of Poland for the period 1870–1912. The authors used bottom-up methodology and calculated sectoral added values using historical economic, social, and demographic data. The presented results offer first ever insight into the structure of sectoral added values in the Congress Kingdom of Poland during the period of first globalization and first reliable estimates of GDP of the Congress Kingdom of Poland. All results are presented in Geary–Khamis dollars PPP1990 and are compatible with Maddison dataset.","PeriodicalId":51703,"journal":{"name":"European Review of Economic History","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-09-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46328741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We document and make available to the scholarly community a uniquely detailed database of 20,680 observations of wages for men, women, and children and 30,000 observations of prices from eighteenth-century rural Denmark. These microlevel data were originally collected by the Danish Price History Project but have not previously been released. To illustrate the usefulness of such data, we discuss possible applications.
{"title":"To the manor born: a new microlevel wage database for eighteenth-century Denmark","authors":"P. Jensen, C. Radu, P. Sharp","doi":"10.1093/ereh/heab015","DOIUrl":"https://doi.org/10.1093/ereh/heab015","url":null,"abstract":"\u0000 We document and make available to the scholarly community a uniquely detailed database of 20,680 observations of wages for men, women, and children and 30,000 observations of prices from eighteenth-century rural Denmark. These microlevel data were originally collected by the Danish Price History Project but have not previously been released. To illustrate the usefulness of such data, we discuss possible applications.","PeriodicalId":51703,"journal":{"name":"European Review of Economic History","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43501232","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We use the first French experiment with playing card money in its colony of Quebec between 1685 and 1719 to illustrate the link between legal tender restrictions and the price level. Initially, the quantity of playing card money and the government’s poor fiscal condition appears to have had little effect on prices. After 1705, however, the playing card money became inflationary. We argue that this was caused by the government’s increased enforcement of the legal tender laws and the adoption of a redemption plan intended to remove the notes from circulation.
{"title":"The wild card: colonial paper money in French North America, 1685 to 1719","authors":"Bryan P Cutsinger, Vincent Geloso, Mathieu Bédard","doi":"10.1093/ereh/heab014","DOIUrl":"https://doi.org/10.1093/ereh/heab014","url":null,"abstract":"We use the first French experiment with playing card money in its colony of Quebec between 1685 and 1719 to illustrate the link between legal tender restrictions and the price level. Initially, the quantity of playing card money and the government’s poor fiscal condition appears to have had little effect on prices. After 1705, however, the playing card money became inflationary. We argue that this was caused by the government’s increased enforcement of the legal tender laws and the adoption of a redemption plan intended to remove the notes from circulation.","PeriodicalId":51703,"journal":{"name":"European Review of Economic History","volume":"22 1","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138534208","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Between the mid-thirteenth and mid-fifteenth centuries, Italian city-states abandoned citizen militaries for militaries composed of mercenaries: foreign soldiers for hire. So dramatic was the switch that this epoch has been called “the golden age of mercenaries,” and so treacherous did the mercenaries prove that Niccolò Machiavelli would later denounce them as “useless and dangerous.” Italian rulers knew of mercenaries’ infamous reputation when they hired them. To explain the puzzling fact that rulers hired mercenaries anyway, we develop a theory of military composition in which political circumstance constrains ruler choice. Comparative analysis of Venice and Florence provides evidence for our explanation.
{"title":"The golden age of mercenaries","authors":"P. Leeson, E. Piano","doi":"10.1093/ereh/heaa020","DOIUrl":"https://doi.org/10.1093/ereh/heaa020","url":null,"abstract":"\u0000 Between the mid-thirteenth and mid-fifteenth centuries, Italian city-states abandoned citizen militaries for militaries composed of mercenaries: foreign soldiers for hire. So dramatic was the switch that this epoch has been called “the golden age of mercenaries,” and so treacherous did the mercenaries prove that Niccolò Machiavelli would later denounce them as “useless and dangerous.” Italian rulers knew of mercenaries’ infamous reputation when they hired them. To explain the puzzling fact that rulers hired mercenaries anyway, we develop a theory of military composition in which political circumstance constrains ruler choice. Comparative analysis of Venice and Florence provides evidence for our explanation.","PeriodicalId":51703,"journal":{"name":"European Review of Economic History","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/ereh/heaa020","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43996356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
How can we trace early African development? The share of rulers’ known birth year has been identified as an indicator of elite numeracy in African regions since 1400, and the share of murdered rulers allows us to gain insights into interpersonal violence behaviour of African elites. From this emerges a dynamic picture of quantitative African history: the absence of elite violence and high elite numeracy developed jointly in sub-Saharan Africa. Some African regions, such as today’s Ethiopia and Angola, took the lead in early development but also experienced severe declines. Development in Africa was, on average, later than in Northwestern Europe.
{"title":"Elite violence and elite numeracy in Africa from 1400 CE to 1950 CE","authors":"Joerg Baten, Kleoniki Alexopoulou","doi":"10.1093/EREH/HEAB013","DOIUrl":"https://doi.org/10.1093/EREH/HEAB013","url":null,"abstract":"\u0000 How can we trace early African development? The share of rulers’ known birth year has been identified as an indicator of elite numeracy in African regions since 1400, and the share of murdered rulers allows us to gain insights into interpersonal violence behaviour of African elites. From this emerges a dynamic picture of quantitative African history: the absence of elite violence and high elite numeracy developed jointly in sub-Saharan Africa. Some African regions, such as today’s Ethiopia and Angola, took the lead in early development but also experienced severe declines. Development in Africa was, on average, later than in Northwestern Europe.","PeriodicalId":51703,"journal":{"name":"European Review of Economic History","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47003804","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Erratum to: Climate change, weather shocks, and price convergence in pre-industrial Germany","authors":"H. Albers, U. Pfister","doi":"10.1093/EREH/HEAB008","DOIUrl":"https://doi.org/10.1093/EREH/HEAB008","url":null,"abstract":"","PeriodicalId":51703,"journal":{"name":"European Review of Economic History","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45775114","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study contributes to an expanding literature on historical African inequality, presenting five social tables and income inequality estimates for Uganda between 1925 and 1965. I find that income inequality was mostly stable and overall low compared to other African colonies. Decomposition reveals important underlying fault lines and shifts. Income gaps between the African majority and a tiny Asian and European income elite accounted for a large share of overall inequality. Over time, inequality among Africans increased. Income from self-provisioning was a major equalizer in Uganda’s economy, which was characterized by land abundance and widespread smallholder cultivation of labor-intensive export crops.
{"title":"Reconstructing income inequality in a colonial cash crop economy: five social tables for Uganda, 1925–1965","authors":"M. Haas","doi":"10.1093/EREH/HEAB010","DOIUrl":"https://doi.org/10.1093/EREH/HEAB010","url":null,"abstract":"\u0000 This study contributes to an expanding literature on historical African inequality, presenting five social tables and income inequality estimates for Uganda between 1925 and 1965. I find that income inequality was mostly stable and overall low compared to other African colonies. Decomposition reveals important underlying fault lines and shifts. Income gaps between the African majority and a tiny Asian and European income elite accounted for a large share of overall inequality. Over time, inequality among Africans increased. Income from self-provisioning was a major equalizer in Uganda’s economy, which was characterized by land abundance and widespread smallholder cultivation of labor-intensive export crops.","PeriodicalId":51703,"journal":{"name":"European Review of Economic History","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48935453","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper explains fluctuations in the number of initial public offerings (IPOs) between 1876 and 2015 in the Netherlands. We test an econometric model and find that the number of IPOs is strongly related to the economic growth and the size of the stock exchange. We also find that IPOs are timed to coincide with favorable market conditions. Our model explains almost 50 percent of the fluctuations and most of the hot markets. To further understand IPO waves, we conduct a descriptive analysis, which yields two additional causes for hot markets, i.e., high capital needs and investors’ expectations for specific industries.
{"title":"What causes hot markets for equity IPOs? An analysis of initial public offerings in the Netherlands, 1876–2015","authors":"Abe de Jong, Wilco Legierse","doi":"10.1093/EREH/HEAB011","DOIUrl":"https://doi.org/10.1093/EREH/HEAB011","url":null,"abstract":"\u0000 This paper explains fluctuations in the number of initial public offerings (IPOs) between 1876 and 2015 in the Netherlands. We test an econometric model and find that the number of IPOs is strongly related to the economic growth and the size of the stock exchange. We also find that IPOs are timed to coincide with favorable market conditions. Our model explains almost 50 percent of the fluctuations and most of the hot markets. To further understand IPO waves, we conduct a descriptive analysis, which yields two additional causes for hot markets, i.e., high capital needs and investors’ expectations for specific industries.","PeriodicalId":51703,"journal":{"name":"European Review of Economic History","volume":" ","pages":""},"PeriodicalIF":1.4,"publicationDate":"2021-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46169541","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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