nep-his New Economics Papers
on Business, Economic and Financial History
Issue of 2011‒03‒05
sixteen papers chosen by
Bernardo Batiz-Lazo
Bangor University

  1. New trends in world wine consumption and its impact on the Spanish wineries during the second half of the twentieth century By Francisco J. Medina-Albaladejo
  2. Commitment and Conquest: The Case of British Rule in India By Mandar Oak; Anand Swamy
  3. The Belle Epoque of International Finance. French Capital Exports, 1880-1914 By Rui Pedro Esteves
  4. An emerging paradigm or just another trajectory? Understanding the nature of technological changes using engineering heuristics in the telecommunications switching industry By Arianna Martinelli
  5. Long-term Effects of Early Childhood Malaria Exposure on Education and Health: Evidence from Colonial Taiwan By Chang, Simon; Fleisher, Belton M.; Kim, Seonghoon; Liu, Shi-yung
  6. Hombres que entre las races: Plantation colonies, slave rebellions and land redistribution in Saint Domingue and Cuba at the late colonial period, c. 1750 c. 1860 By Miguel Laborda Pemn
  7. A Cien Años de la Muerte de León Walras II: Huellas de la tradición Paretiana By Sergio Monsalve
  8. A Century of American Economic Review By Benno Torgler; Marco Piatti
  9. UK World War I and interwar data for business cycle and growth analysis By James M. Nason; Shaun P. Vahey
  10. The Agrifood Districts in the New Millennium By Brasili, Cristina; Fanfani, Roberto
  11. Long-term Effects of Famine on Life Expectancy: A Re-analysis of the Great Finnish Famine of 1866-1868 By Doblhammer-Reiter, Gabriele; van den Berg, Gerard J.; Lumey, Lambert H.
  12. “Yatra Naaryastu Poojyante……” Women Development in India By B. P., Asalatha; Pillai N., Vijayamohanan
  13. Telefónica: 1991-2010. Creación de valor y rentabilidad By Fernandez, Pablo; Aguirreamalloa, Javier; Corres, Luis
  14. Communicating Climate Change: A Literature Review By Parton, Kevin; Morrison, Mark
  15. Inequality of Happiness in US: 1972-2008 By Indranil Dutta; James Foster
  16. The 25th Anniversary of the Chernobyl Accident By Simmons, Phil

  1. By: Francisco J. Medina-Albaladejo (Universidad de Murcia)
    Date: 2010–11
  2. By: Mandar Oak (University of Adelaide); Anand Swamy (Williams College)
    Abstract: Contemporary historians usually attribute the East India Company's military success in India to its military strength, and to the mutual distrust of Indian regimes. We argue these explanations, though correct, are incomplete. The credibility of the Company's commitments, even though imperfect, was essential to its success.
    Keywords: War, Colonialism, India
    JEL: N45 N40
    Date: 2010–07
  3. By: Rui Pedro Esteves
    Abstract: This paper introduces a new dataset of French investments in foreign securities. This is the most detailed data available to date. The data is used to study the composition, valuation, and total return of the French portfolio of non-sovereign foreign securities on the 34 years before World War 1. Additional insights are obtained about the structure of the financial market in France.
    Keywords: France, pre-1914, foreign portfolio investment
    JEL: G11 G15 N23
    Date: 2011
  4. By: Arianna Martinelli
    Abstract: The theoretical literature on technological changes distinguishes between paradigmatic changes and changes in trajectories. Recently several scholars have performed empirical studies on the way technological trajectories evolve in specific industries, often by predominantly looking at the artifacts. Much less - if any - empirical work has been done on paradigmatic changes, even though these have a much more profound impact on today's industry. It follows from the theory that such studies would need to focus more on the knowledge level than on the artifact level, raising questions on how to operationalize such phenomena. This study aims to fill this gap by applying network-based methodologies to knowledge networks, represented here by patents and patent citations. The rich technological history of telecommunications switches shows how engineers in the post-war period were confronted with huge challenges to meet drastically changing demands. This historical background is a starting point for an in-depth analysis of patents, in search of information about technological direction, technical bottlenecks, and engineering heuristics. We aim to identify when such changes took place over the seven different generations of technological advances this industry has seen. In this way we can easily recognize genuine paradigmatic changes compared to more regular changes in trajectory.
    Keywords: technological trajectories; patents; network analysis; telecommunication manufacturing industry
    JEL: O30 O33 L96
    Date: 2011–02–24
  5. By: Chang, Simon (Central University of Finance and Economics); Fleisher, Belton M. (Ohio State University); Kim, Seonghoon (Ohio State University); Liu, Shi-yung (Academia Sinica)
    Abstract: We estimate the effects of early childhood malaria exposure on education and health at older ages by exploiting variations in malaria exposure risk around birth that resulted from a universal malaria eradication campaign in colonial Taiwan in the early 20th century. We find that malaria exposure around birth leads to lower life-time educational attainment and to worse mental and physical health outcomes in old age as reflected in particular in worse cognitive function, a higher likelihood of cardiovascular diseases and a higher mortality hazard, compared to those who were not exposed.
    Keywords: malaria, early childhood, education, health, Taiwan
    JEL: I12 I18 I21 O15 O18
    Date: 2011–02
  6. By: Miguel Laborda Pemn
    Abstract: In the last years, the work by Engerman and Sokoloff (ES) on the divergent development paths within the Americas has provided an important backing to the institutionalist school. In line with the work by Acemoglu, Johnson and Robinson, ES assume the existence of institutional persistence: once accepted the resilient nature of the institutional framework, it becomes easier to trace a link between an adverse colonial heritage and an unsatisfactory economic performance at present. Nevertheless, this interpretation, satisfactory as it is at the big picture level, may also obscure both the presence of noteworthy causal relations and the agency of other actors. I am concerned with two questions. First: How to explain substantial differences in economic performance (particularly, land inequality) between ESs same type of colony? Second: Is it possible to include the role of non-European agency in the development narrative? The comparative study of the plantation economies of Saint Domingue and Cuba at the late colonial period sheds light on these issues. The intrinsic instability of the plantation colonies and, in some cases, the outbreak of slave rebellions with their visible impact on the institutions and the economic performance suggest more nuanced analysis. I conclude that the recognition of both political economy factors and non-European agency in the process of economic change could benefit ongoing research on the (colonial) origins of comparative development.
    Keywords: Factor endowments, institutions, inequality, politics, plantation colonies, slave rebellions, land redistribution.
    JEL: F54 O13 O54 P16 P52
    Date: 2011–02
  7. By: Sergio Monsalve
    Abstract: En el aniversario de su muerte, este segundo artículo describe algunas de las huellas de la tradición paretiana a partir del trabajo original de Léon Walras, desde los lineamientos fundamentales de Vilfredo Pareto, hasta la moderna perspectiva basada en la síntesis neoclásica de Hicks, Samuelson y Allais, entre otros. En la discusión se mostrará cómo esta tradición teórica poswalrasiana es ajena a aquella inmensa formulación de nuevos ordenamientos sociales y económicos, como lo era la obra científica de Walras.
    Date: 2011–02–22
  8. By: Benno Torgler; Marco Piatti
    Abstract: Using information collected from American Economic Review publications of the last 100 years, we try to provide answers to various questions: Which are the top AER publishing institutions and countries? Which are the top AER papers based on citation success? How frequently is someone able to publish in AER? How equally is citation success distributed? Who are the top AER publishing authors? What is the level of cooperation among the authors? What drives the alphabetical name ordering? What are the individual characteristics of the AER authors, editors, editorial board members, and referees? How frequently do women publish in AER? What is the relationship between academic age, publication performance, and citation success? What are the paper characteristics? What influences the level of technique used in articles? Do connections have an influence on citation success? Who receives awards? Can awards increase the probability of publishing in AER at a later stage?
    Keywords: American Economic Review; publishing economics; rankings; cooperation; authors; editors; board members; referees; connections; awards; paper characteristics; economic history; history of economic thought
    JEL: A10 A11 B00 B31 B40 I23 N01 J00 Z00
    Date: 2011–02
  9. By: James M. Nason; Shaun P. Vahey
    Abstract: This article contributes new time series for studying the UK economy during World War I and the interwar period. The time series are per capita hours worked and average capital income, labor income, and consumption tax rates. Uninterrupted time series of these variables are provided for an annual sample that runs from 1913 to 1938. The authors highlight the usefulness of these time series with several empirical applications. The per capita hours worked data are used in a growth accounting exercise to measure the contributions of capital, labor, and productivity to output growth. The average tax rates are employed in a Bayesian model averaging experiment to reevaluate the Benjamin and Kochin (1979) regression.
    Keywords: Business cycles ; Economic development ; Real-time data
    Date: 2011
  10. By: Brasili, Cristina; Fanfani, Roberto
    Abstract: The Italian Industrial Districts (IDs) are considered to be one of the main reasons for the rapid industrial development and success of Italy since the Second World War. The SME's have also played an important role in this. In this paper we outline the general characteristics of the ID approach and the main structural changes in the new millennium, due to them facing the process of globalization. The distinctive figures of the agrifood districts and their mosaic style of development are than analysed to highlight the similarities and differences between them and the other IDs. First show that they are more relevant and that their geographical distribution is more important than those of other recently analysed Italian ID's. The different zones of origin of agrifood districts and their specialized production is often related to typical or highâquality products, with a strong connection to territorial traditions and manufacturing skills. These characteristics make agrifood districts different in some ways from other ID's where the declining âdistrict effectâ has been noted due to the general difficulties of Italian manufacturing industries. We will analysis these general structural changes focusing on the districts of the meat industry.
    Keywords: Economic Development, Agrifood Districts, Industrial Districts (IDs), SMEâs role, Efficiency of firms, Agribusiness, Agricultural and Food Policy, Farm Management, Food Consumption/Nutrition/Food Safety, Research Methods/ Statistical Methods, A1, C23, O1, Q10, Q17,
    Date: 2010–10
  11. By: Doblhammer-Reiter, Gabriele (University of Rostock); van den Berg, Gerard J. (University of Mannheim); Lumey, Lambert H. (Columbia University)
    Abstract: Famines are extreme cases of environmental stress, and have been used by a series of studies to explore the long-term consequences of the fetal or childhood environment. Results are inconsistent and do not support negative long-term effects on mortality. The authors test the hypothesis that selection during famine changes the frailty distributions of cohorts and may hide negative long-term effects. They use death counts from age 60+ from the Human Mortality Data Base for the birth cohorts 1850-1854, 1855-1859, 1860-1865, 1866-1868, 1869-1874, 1875-1879, 1880-1884 and 1885-1889 to explore the effect of being born during the Great Finnish Famine 1866-1868. Swedish cohorts without famine exposure are analysed as a control group. Cohorts born in Finland during the Great Finnish Famine are highly heterogeneous in their distribution of deaths after age 60. By contrast, cohorts born in the years immediately after the famine are particularly homogeneous. Accounting for these differences results into a lower remaining life expectancy at age 60 for cohorts born during the famine. Statistically, long-term effects of famine on mortality become only visible when changes in the frailty distribution of cohorts are explicitly considered.
    Keywords: old-age mortality, selection, debilitation, early life circumstances
    JEL: I12 J11 C41
    Date: 2011–02
  12. By: B. P., Asalatha; Pillai N., Vijayamohanan
    Abstract: Though the principle of gender equality is firmly established in the Indian Constitution, translating de jure gender equality and the promise of social, economic and political justice, into de facto reality has been one of India’s major challenges over the years, given a long background of an Asiatic society chained by patriarchal domination. There is still unfortunately a wide gap between the goals enunciated in the Constitution, legislation and policies and the current status of Indian women. Though for the first time, a separate section on `Gender Equity’ was included in the Draft Approach Paper to the 11th Five Year Plan, the Paper has not given enough focus on women’s empowerment issues in the country. The present paper critically examines the Indian experience over time of women in development.
    Keywords: Women development; Indian Constitution; Five Year Plans; empowerment
    JEL: D6 I3 J16
    Date: 2010–12–19
  13. By: Fernandez, Pablo (IESE Business School); Aguirreamalloa, Javier (IESE Business School); Corres, Luis (IESE Business School)
    Abstract: La rentabilidad de los accionistas de Telefónica en 2010 fue -7,7% mientras que la del IBEX 35 fue -12,9% (la rentabilidad del IBEX sin Telefónica habría sido -14,4%). En el periodo 1991-2010, la rentabilidad de los accionistas de Telefónica fue 15,2% mientras que la del IBEX 35 fue 11%. La inflación media en ese periodo fue 3,1%. Entre diciembre de 1991 y diciembre de 2010, el aumento del valor para los accionistas de Telefónica fue ¿85,8 millardos y la creación de valor para los accionistas fue ¿34,2 millardos. La capitalización de Telefónica osciló en estos 19 años entre el 11,2% y el 27,6% de la del IBEX 35; fue 22,2% en 2010. El documento también compara la evolución de la cotización de Telefónica con la de las grandes empresas de telecomunicaciones, con la del Santander, con la del BBVA y con la del IBEX 35 en los últimos 20, 10 y 5 años.
    Keywords: Telefónica; creación valor accionistas; aumento valor accionistas; rentabilidad accionistas;
    JEL: G12 G31 M21
    Date: 2011–01–21
  14. By: Parton, Kevin; Morrison, Mark
    Abstract: For climate scientists, climate change is a problem that has a significant chance of having catastrophic environmental, social and economic consequences during the course of this century. In contrast, public opinion seems to regard with scepticism the pronouncements on climate change that emanate from the scientific community. Why the difference? This is what our research project was designed to examine. Or to put it another way: Assuming that the scientific information is correct, and that without a dramatic change in technology (and policy to promote such a change) there would be a significant risk of man-made, global catastrophe, what must be done to communicate this urgent issue to the public? We have approached the analysis of this problem by reviewing the literature on communicating climate change. By organising the literature according to the role of the major groups of participants in the information transfer process, useful insights can be gleaned. These groups include scientists, business, the government, the media and the general public. This analysis leads to an overall model of the information transfer process that highlights various issues including the role that the media plays as a lens through which the public observes scientific results.
    Keywords: Climate change, media, scientists, business, government, the general public, literature review, Environmental Economics and Policy, Marketing, Resource /Energy Economics and Policy, 1402,
    Date: 2011
  15. By: Indranil Dutta; James Foster
    Date: 2011
  16. By: Simmons, Phil
    Abstract: The nuclear accident at the Chernobyl plant in 1986 is described and a summary of its immediate effects on people and the environment outlined. Then there is a summary of the important parts of the literature on diseases and deaths resulting from radiation and mortalities to date and the way mortality data became increasingly conservative over the years is discussed. Today, there is still uncertainty about future mortalities dues to long latency periods for many cancers however cancer deaths in Chernobyl affected regions are expected to be similar to non-Chernobyl controls. The major literature on environmental effects on wild species, forests, water and agricultural land are then reported with a brief discussion of remediation work and of current trends. Finally, contemporary perceptions of the Chernobyl accident are described in the context of popular anti-nuclear sentiment that prevailed in 1986, the immense publicity surrounding the accident and the natural tendency of people to exaggerate prospects of unlikely, yet extreme, events.
    Keywords: Environmental Economics and Policy,
    Date: 2011

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