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on Business, Economic and Financial History |
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Issue of 2005‒05‒29
twelve papers chosen by |
| By: | Lutz Budrab (University of Bochum); Jonas Scherner (University of Mannheim); Jochen Streb (University of Hohenheim) |
| Abstract: | Armament minister Albert Speer is usually credited with causing the boom in German armament production after 1941. This paper uses the annual audit reports of the Deutsche Revisions- und Treuhand AG for seven firms which together represented about 50 % of the German aircraft producers. We question the received view by showing that in the German aircraft industry the crucial changes that triggered the upswing in aircraft production already occurred before World War II. The government decided in 1938 that aircraft producers had to concentrate on a few different types, and in 1937 that cost-plus contracts were replaced with fixed price contracts. What followed was not a sudden production miracle but a continuous development which was fuelled first by learning-by-doing and then by the ongoing growth of the capital and labor endowment. |
| Keywords: | German armament miracle, World War II, Albert Speer, Aircraft industry, Learning-by-doing, Fixed-price Contract, Labor productivity |
| JEL: | H57 L64 N44 |
| Date: | 2005–01 |
| URL: | http://d.repec.org/n?u=RePEc:egc:wpaper:905&r=his |
| By: | Conny Wunsch |
| Abstract: | Almost 15 years after Unification in 1990, Germany is still struggling with the economic consequences of this event. Although the East German economy has made considerable progress since its near-collapse after the German monetary, economic and social union in July 1990, the East German labour market has not yet recovered. Western Germany, which had to bear a substantial part of the fiscal cost of German Unification, is also faced with high unemployment though the rate is considerably lower than in the Eastern part. Expenditure for activation measures and income support during unemployment is substantial and one of the highest among OECD countries. In response to exploding cost of unemployment and continuing public pressure to solve the unemployment problem, the German Federal Government has started the largest social policy reform in the history of the Federal Republic. This paper reconstructs the development of the German labour market and the stepwise reform of German labour market policy since German Unification in 1990. It provides a detailed description of the instruments of German active labour market policy and reviews the existing econometric evidence on their effectiveness. |
| JEL: | J68 |
| Date: | 2005–03 |
| URL: | http://d.repec.org/n?u=RePEc:usg:dp2005:2005-06&r=his |
| By: | Eric van Damme |
| Date: | 2005–05 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:0526&r=his |
| By: | Mª Teresa Sanchis Llopis |
| Abstract: | Spanish economic records in terms of GDP growth and convergence to European levels in the sixties, provide an excellent opportunity to look at a central question underlying in the interpretation of any process of economic growth. The relevance of industrial specific technological progress is confronted to a general and multifaceted productivity change coming from a variety of sectors and causes. This paper exploits sectoral growth accounting methodology in two different ways in order to answer this crucial question revisited recently by historiography with reference to British Industrial Revolution and to Information and Telecommunications Technologies. First, we calculate TFP growth following the Kendrick approach (1961) and using four input-output tables corresponding to 1958, 1962, 1970 and 1975 disaggregated at 25 productive branches. And Second, we examine the impact of electricity and electric machinery and equipment as a General Purpose Technology (GPT) in Spanish economic growth. |
| Date: | 2005–05 |
| URL: | http://d.repec.org/n?u=RePEc:cte:dilfrp:dilf0503&r=his |
| By: | Antonio Cubel; Maria Teresa Sanchis |
| Abstract: | Post-war Europe provides an opportunity to study the importance of relative prices of capital, and the user cost of capital in particular, in explaining the convergence in investment rates between countries of similar “social capabilities” and income levels. After Second World War, at time as a new international order was established, European countries experienced a rapid process of income growth and convergence. In the interpretation of this process a prominent role has been attributed to technological progress and “catch-up” to the technological leader, the United States. Investment decisions are the way for embodying new technological progress, but investment takes place only when incentive exists. Among these incentives, recent empirical literature on economic growth highlights the role of relative prices of capital in explaining differences in investment rates and income growth between countries with very different income levels. But when we reduce the sample to countries closed in income levels and “social capabilities”, we can demonstrate that, although the relative cost of capital converged over time and could help to explain income convergence, other factors were more significant in explaining the increase in investment rates. More important than the user cost of capital in the investment decision, was general prosperity caused by the demand increase. |
| Date: | 2005–04 |
| URL: | http://d.repec.org/n?u=RePEc:cte:dilfrp:dilf0505&r=his |
| By: | Michel, DE VROEY |
| Abstract: | Have new classicists invented market clearing or have they rehabilited it ? This is the question addressed in the present paper. It is generally agreed that market clearing underpins Walrasian theory, so my exploration is limited to the question of whether this is also true for Marshallian theory. I will claim that this is broadly the case : once Marshallian theory is properly reconstructed, it exhibits market clearing as a constantly present result. Still; an important difference between market à la Walras and market clearing à la Marshall exists : in the former market clearing is equilibrium, while in the latter market clearing can coexist with disequilibrium. Next, I investigate whether my conclusion extends to the labour market. Again the conclusion reached is affirmative both for Marshall’s theory and for present-day Marshallian models. As to the latter, I take Friedman’s Phillips Curve model as a case study. I show that this is a market clearing model in which, strictly speaking, there is no place for the concept of unemployment - quite an ironical result for the paper that introduced the notion of the natural rate of unemployment ! |
| Keywords: | market clearing; equilibrium; Lucas; Marshall; Friedman |
| JEL: | B20 B40 D50 |
| Date: | 2005–04–15 |
| URL: | http://d.repec.org/n?u=RePEc:ctl:louvec:2005011&r=his |
| By: | Julie A. Nelson |
| Abstract: | Does Rational Choice Theory (RCT) have something important to contribute to the humanities? Jon Elster and others answer affirmatively, arguing that RCT is a powerful tool that will lend clarity and rigor to work in the humanities just as it (presumably) has in economics. This essay examines the disciplinary values according to which the application of RCT in economics has been judged a “success,” and suggests that this value system does not deserve general approbation. Richness and realism must be retained as important values alongside precision and elegance, if anti-scientific dogmatism and absurd conclusions are to be avoided. |
| URL: | http://d.repec.org/n?u=RePEc:dae:daepap:05-04&r=his |
| By: | Felicitas Nowak-Lehmann D.; Dierk Herzer; Immaculada Martínez-Zarzoso; Sebastian Vollmer |
| Abstract: | This paper investigates the trade effects of Turkey’s trade integration into the EU. To this end sectoral trade flows to the EU based on panel data from the period 1988 to 2002 are examined concentrating on Turkey’s sixteen most important export sectors. Emphasis is placed on the role of price competition, EU protection, and transport costs in the export trade between Turkey and the EU. The empirical model used is an extended version of the gravity model. This study is also a contribution to the current discussion of whether Turkey should be granted full EU membership or a privileged partnership with the EU, which for Turkey would mean improved access to the EU market for its products, among other benefits. Our investigation focuses on the latter policy outcome: the impact of deepening the Customs Union between Turkey and the EU and applying the Common Agricultural Policy (CAP) to Turkish agricultural exports. To this end, the impact of the 1996 Customs Union covering most industrial goods and processed agricultural goods, is evaluated on a sectoral level. We also perform simulations to quantify the impact of the potential inclusion of agricultural goods, as well as iron and steel and products thereof, into the full Customs Union between Turkey and the EU which is still to come. |
| Keywords: | Trade integration, gravity model, sectoral trade flows, price competition, transport costs |
| JEL: | F |
| Date: | 2005–05–24 |
| URL: | http://d.repec.org/n?u=RePEc:got:cegedp:43&r=his |
| By: | Laure Pasquier-Doumer (DIAL, Paris) |
| Abstract: | Le développement considérable de l’enseignement qui caractérise le Pérou depuis le début du vingtième siècle suggère que l’accès à l’éducation scolaire est devenu plus égalitaire. Dans cet article, je cherche à savoir si réellement le développement a profité à tous de la même manière et s’il s’est accompagné d’une égalisation des opportunités scolaires. Pour cela, j’analyse l’évolution des inégalités sociales devant l’école tout au long du vingtième siècle en étudiant l’évolution du lien entre le niveau d’éducation des personnes et leur origine culturelle. Ensuite, j’examine si le relâchement de ce lien que l’on observe s’explique par une plus forte égalité d’opportunités scolaires ou s’il n’est que le résultat de l’allongement généralisé des études. Enfin, j’étudie quelles politiques publiques pourraient être conduites pour accroître l’égalité des chances devant l’école. L’originalité de cet article est de pouvoir aborder cette problématique pour un pays en développement grâce à la base de données exceptionnelle dont on dispose ici. |
| Keywords: | inégalité d’opportunités, mobilité scolaire, exclusion, Pérou, vingtième siècle, modèles log-linéaires |
| URL: | http://d.repec.org/n?u=RePEc:got:iaidps:105&r=his |
| By: | Rudiger Ahrend; William Tompson |
| Abstract: | The paper provides an overview of the course of economic reform and the performance of the Russian economy since the early 1990s and an analysis of the structural reform challenges ahead. It assesses the contribution of institutional and structural reforms to economic performance over the period, before turning to the question of where further structural reforms could make the biggest contribution to improved performance. Three major conclusions emerge. First, there is still a great deal to be done to strengthen the basic institutions of the market economy. While the Russian authorities have embarked on some impressive - and often technically complex - 'second-generation' reforms, many 'first-generation' reforms have yet to be completed. Secondly, the central challenges of Russia's second decade of reform are primarily concerned with reforming state institutions. Thirdly, the pursuit of reforms across a broad front could enable Russia to profit from complementarities that exist among various strands of reform. <p> Quinze ans de réformes économiques en Russie: Qu'a-t-elle acquis? Que reste-t-il à faire? <p> L'article donne un aperçu du déroulement des réformes économiques et des performances de l'économie russe depuis le début des années 90, ainsi qu'une analyse des enjeux des futures réformes structurelles. L'article considère la contribution des réformes institutionnelles et structurelles à la performance économique durant la période, avant d'examiner dans quels domaines des réformes structurelles additionnelles pourraient avoir la plus grande contribution à l'amélioration de la performance économique. Il en résulte trois conclusions majeures. Premièrement, il reste encore beaucoup à faire pour renforcer les institutions de base d'une économie de marché. Bien que les autorités russes aient commencé quelques réformes de "seconde génération" qui sont impressionnantes - et souvent techniquement complexes-, il reste un bon nombre de réformes de "première génération" à achever. Deuxièmement, les défis centraux de la deuxième décennie de réformes concernent en première ligne la réforme des institutions de l'État. Troisièmement, la poursuite des réformes sur un large front permettrait à la Russie de profiter des complémentarités existantes entre les différents axes des réformes. |
| Keywords: | Russia; economy; reform; growth; stabilisation; transparency; corruption; state ownership; competition; transition |
| JEL: | H1 K2 P21 P26 P27 P31 P37 |
| Date: | 2005–05–11 |
| URL: | http://d.repec.org/n?u=RePEc:oed:oecdec:430&r=his |
| By: | Gerardo Uña; Gisell Cogliandro; Juan Labaqui |
| Abstract: | La presente investigación, constituye una aproximación al estudio más detallado de los think tanks, sus características y su comportamiento en el caso argentino, haciendo especial hincapié en la manera que se involucran en el proceso de formulación de políticas públicas, y considerando las diferencias existentes entre los distintos tipos de organizaciones. Este documento se encuentra estructurado en cuatro Capítulos. En el Capítulo I se elabora una definición de los think tanks y su caracterización. Asimismo, se realiza una reseña histórica acerca del surgimiento de los think tanks en los Estados Unidos y en la Argentina. En el Capítulo II se detalla el listado de organizaciones relevadas, su clasificación y una breve descripción de cada una de ellas. En el Capítulo III se realiza el análisis de los distintos grupos de think tanks considerados en función de seis aspectos principales: órgano de conducción, financiamiento, recursos humanos, actividades y productos, los temas abordados en sus investigaciones y su posicionamiento público. Finalmente, en el Capítulo IV se elaboran las principales conclusiones del análisis realizado. |
| Keywords: | 'THINK TANKS' 'ARGENTINA' 'ADVOCACY GROUPS' 'USINAS DE PENSAMIENTO' 'POLÍTICAS PÚBLICAS' 'TOMA DE DECISIONES' |
| JEL: | D6 D7 H |
| Date: | 2005–05–23 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwppe:0505012&r=his |
| By: | Gregorio Núñez (Department of Economic Theory and Economic History (University of Granada) and “Grupo de Estudios Históricos sobre la Empresa”) |
| Abstract: | En las páginas que siguen se estudia, siguiendo las vicisitudes biográficas de un ingeniero militar madrileño y más tarde director de empresas, la formación de un grupo empresarial que se ocupó de la promoción industrial y de la gestión de servicios públicos en las provincias de Granada y de Almería. A lo largo del trabajo se presenta la construcción gradual de sucesivas redes sociales formadas por contactos personales y profesionales y se muestra la emergencia en su seno de conflictos y tensiones entre los diferentes grupos. |
| Keywords: | Army - Engineers – Spain; Business and Financial Networks - Spain – 20 th (1900-1936); Business History - Spain – 20 th Century (1900-1936); Businesspersons –Spain – Biographies; Economic History - Andalusia (Spain) – 20 th Century (1900-1936); Social capital – Business Networks. |
| JEL: | N13 N14 N43 N44 N83 N84 |
| Date: | 2005–05–22 |
| URL: | http://d.repec.org/n?u=RePEc:gra:wpaper:05/05&r=his |