nep-his New Economics Papers
on Business, Economic and Financial History
Issue of 2014‒10‒17
twelve papers chosen by
Bernardo Bátiz-Lazo
Bangor University

  1. Organized Crime and Electoral Outcomes in Sicily By P. Buonanno; G. Prarolo; P. Vanin
  3. Chinese Steel Consumption in the 21st Century Creation Date: 2000 By P. Crompton; Y. Wu
  4. The Emperor Has New Clothes: Empirical Tests of Mainstream Theories of Economic Growth By David Greasley; Nick Hanley; Eoin McLaughlin; Les Oxley
  6. Financial contagion and market intervention in the 1772-3 credit crisis By Paul Kosmetatos
  7. The Trade Practices Act after 25 years: Mergers and the role of the ACC Creation Date: 1999 By A. Fels
  8. Testing the Hypothesis of Long-Run Money Neutrality in the Middle East By George B. TAWADROS
  9. UWA Discussion Papers in Economics: The first 200 Creation Date: 1990 By S.A. Larcombe
  10. Constructing a Database for Economic Modelling From the System of National Accounts: a Social Accounting Matrix for Portugal. By Susana Santos
  11. Adam Smith on Capital Accumulation: An economic growth Creation Date: 1984 By R.N. Ghosh
  12. Japanese Economy: Past, present and future Creation Date: 1988 By T. Takayama

  1. By: P. Buonanno; G. Prarolo; P. Vanin
    Abstract: This paper investigates the relationship between mafia and politics by focusing on the market for votes. It exploits the fact that in the early 1990s the Italian party system collapsed, new parties emerged and mafia families had to look for new political allies. It presents evidence, based on disaggregated data from the Italian region of Sicily, that between 1994 and 2008 Silvio Berlusconi’s party, Forza Italia, obtained higher vote shares in municipalities plagued by mafia. The result is robust to the use of different measures of mafia presence, both contemporary and historical, to the inclusion of different sets of controls and to spatial analysis. Instrumenting mafia’s presence by determinants of its early diffusion in the late XIX century suggests that the correlation reflects a causal link, which would be coherent with mafia’s choice to back Forza Italia in exchange for favorable policies.
    JEL: D72 K42
    Date: 2014–09
  2. By: Alina-Mihaela STOICA (National Defence University “Carol I”)
    Abstract: Woman’s education is a central theme that develops Eliotean narrative. Although George Eliot’s novels portray Victorian woman’s life, the author was not a passionate advocate of the feminist movement of the mid-nineteenth century in Britain because of her illegal and unapproved union with G. H. Lewes. Eliot had remarkable intellectual capacities that assisted her in becoming one of the great female Victorian novelists. That may be the reason why she was keen on supporting woman’s education. She believed that woman had to be able to decide by herself how woman should live her life without being imposed any rules by the Victorian patriarchal society. Eliotean female characters are depicted differently depending on the manner in which they employ the education they have been given.
    Keywords: woman, education, Victorian, patriarchal society, female characters
    Date: 2013–11
  3. By: P. Crompton; Y. Wu
  4. By: David Greasley (School of History, Classics and Archaeology, University of Edinburgh); Nick Hanley (School of Geography and Sustainable Development, University of St. Andrews); Eoin McLaughlin (School of Geography and Sustainable Development, University of St. Andrews); Les Oxley (Department of Economics, University of Waikato)
    Abstract: Modern macroeconomic theory utilises optimal control techniques to model the maximisation of individual well-being using a lifetime utility function. Agents face choices over current and future consumption (with resultant implied savings decisions) seeking to maximise the present value of current plus future well-being. However, such inter-temporal welfare- maximising assumptions remain empirically untested. In the work presented here we test whether welfare was in (historical) fact maximised in the US between 1870 -2000 and find empirical support for the optimising basis of growth theory, but only once a comprehensive view of what constitutes a country’s wealth or capital is taken into account.
    Keywords: inter-temporal utility maximisation;modern growth theory; US; comprehensive wealth
    JEL: E21 E22 C61
    Date: 2014–08
  5. By: Cristian Ducu (Centre for Advanced Research in Management and Applied Ethics, Romania); Irina Stanciugelu (The National School of Political Studies and Public Administration, Romania)
    Abstract: In 1947, the Hutchins Commission talked for the first time on the social responsibility of the press. It was 6 years before having the idea of social responsibility being applied to the work of company managers and companies themselves. According to the U.S. commission, this social responsibility consisted in the educational role of the press. Since 1947, not only the media channels and tools changed significantly, but also the profile of those that read, listen or watch to mass-media production. Based on the new realities of the 21st century press industry and the new profile of media audience, we attempt to redefine the concept of social responsibility for this particular type of organization. To show this reconsideration is viable, we analyze one media institution that leads the way in its industry, which is CNN. At the same time, we emphasize the idea that social responsibility of an organization is only one element of a broader concept of responsibility, of organizational responsibility, where the company is no longer understood from a bi-polar perspective (economic vs. social responsibilities).
    Date: 2013–09
  6. By: Paul Kosmetatos (Darwin College, Cambridge)
    Abstract: The 1772-3 credit crisis impressed its contemporaries for its suddenness, geographical range, and for arising during a time of relative peace and robust economic growth. It also arguably displayed an early instance of a Lender of Last Resort (LLR) in action, some thirty years before the classical articulation of the concept. This paper investigates whether financial contagion was at work in 1772-3, and describes its possible routes of transmission. It furthermore identifies the agents of market intervention, and discusses whether theirs was a conscious policy to limit systemic risk, or ad hoc improvisation in response to other considerations.
    Keywords: Monetary economics, Financial markets and institutions, Financial crises
    JEL: B12 E58 G01 N13 N23
  7. By: A. Fels
  8. By: George B. TAWADROS
  9. By: S.A. Larcombe
  10. By: Susana Santos
  11. By: R.N. Ghosh
  12. By: T. Takayama

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