nep-his New Economics Papers
on Business, Economic and Financial History
Issue of 2015‒09‒18
thirty papers chosen by
Bernardo Bátiz-Lazo
Bangor University

  1. Was the First World War Disturbing or Reinforcing of Australia's Economic Model? By William Coleman
  2. Property Issues of Istanbul Seawalls By N. Semiz
  3. Seventeenth Century Residential Real Estate Prices In Istanbul By A.Tugba Sengil
  4. Growing incomes, growing people in nineteenth-century Tasmania By Kris Inwood; Hamish Maxwell-Stewart; Deb Oxley
  5. Is there a New Economic Sociology Effect? A Topic Model on the Economic Orientation of Sociology, 1890 to 2014 By Adel Daoud; Sebastian Kohl
  6. Foundations and Real Estates of Yorguc Pasha Family Through The Ottoman Endowment System By M.Ç. Keskin
  7. Wealth Inequality in the United States since 1913: Evidence from Capitalized Income Tax Data By Emmanuel Saez; Gabriel Zucman
  8. Byzantine Building Stock after the Conquest of Constantinople in 1453 By B. Ar
  9. London: A Multi-Century Struggle for Sustainable Development in an Urban Environment By Clark, William C.
  10. The long shadow of history: Roman legacy and economic development - evidence from the German limes By Wahl, Fabian
  11. Banking and Industrialization By Stephan Heblich; Alex Trew
  12. Banker Preferences, Interbank Connections, and the Enduring Structure of the Federal Reserve System By Matthew S. Jaremski; David C. Wheelock
  13. Alfred Marshall's Puzzles. Between Economics as a Positive Science and Economic Chivalry By Joanna Dzionek-Kozlowska
  14. The Guardians of Capitalism: International Consensus and Fascist Technocratic Implementation of Austerity By Clara Elisabetta Mattei
  15. Non-Western Marxist Traditions in Northeast Asia By Hiroshi Onishi
  16. Dead Poet's Property - How Does Copyright Influence Price? By Xing Li; Megan MacGarvie; Petra Moser
  17. 'Age of Large'Age of Large-population Countries' and Marxian Optimal Growth Theory By Hiroshi Onishi; Ryo Kanae
  18. Pre-industrial population and economic growth: Was there a Malthusian mechanism in Sweden? By Edvinsson, Rodney
  19. "Roots of Autocracy" By Oded Galor; Marc Klemp
  20. The Theory of Capital as a Theory of Capitalism – Hidden Austrian Contributions to a Historically Specific Approach to Capital By Eduard Braun
  21. Long Term House Price Series for Spain: Construction and International Comparison By P.Taltavull de La Paz; F. Juarez
  22. An Overview of Migration in the Czech Republic and Germany until 2013 By Hanne-Lore Bobáková; Martina Chylková
  23. Sino-African relations: a review and reconciliation of dominant schools of thought By Asongu, Simplice A
  24. Cereals, Appropriability and Hierarchy By Mayshary, Joram; Moav, Omer; Neeman, Zvika; Pascali, Luigi
  25. European Real Estate Society Research Agenda: Looking Back and Projecting Forward By A. Adair; J. Berry; D. Mcilhatton; B. Martens; S. McGreal
  26. Whither Business History?: Memory, Message and Meaning By David Merrett
  27. 15 Years a Consultant By Phil Ender
  28. Ghana : Poverty Reduction Over Thirty Years By Andrew McKay; Jukka Pirttilä; Finn Tarp
  29. Two Centuries of Farmland Prices in England By A. Jadevicius; S. Huston; A. Baum

  1. By: William Coleman
    Abstract: The paper argues there is little evidence that the First World War quickened the currents of development of the Australian economy of twentieth century. It instead suggests the War was reinforcing of the Deakinite model of economic management that already been established in Australia by the outbreak of War. It did so by enlarging the tenet of ‘protection plus preference’ that had been inscribed in the pre-War policy consensus; by strengthening the revenue and legal authority of the central state basic to the Deakinite framework of economic governance; and by assimilating rural interests into the terms of that framework.
    Keywords: World War One, imperial preference, Australian settlement, agrarianism
    JEL: N1 N4 N7
    Date: 2015–03
  2. By: N. Semiz
    Abstract: Istanbul Seawalls, prolonged along the northern and the southern shores of historic peninsula, have been witnesses to all periods of historic Istanbul since its establishment as a Greek colony at the tip of the peninsula. They were influenced by the historical developments of the city as the other parts of Istanbul City-Walls. During the Middle Ages, the defense system had repairs and renovations. Their maintenance was not carried on regularly in the Ottoman era; yet the walls survived the vicissitudes of time with their firm structures. Starting from the sixteenth century, the martial importance of the city-walls decreased gradually with the result of proliferation of firearms, and from the nineteenth century, they lost their significance militarily. Then settlements developed in the immediate vicinity of the walls, and some parts went into private ownership. Moreover modernization of the city accelerated damages and losses on the walls. Today only parts of Istanbul Seawalls are intact. Within this study, the history and the current state of Istanbul Seawalls have been searched in terms of their ownership status, and their property issues have been analyzed.
    Keywords: History; Istanbul Seawalls; Ownership Change
    JEL: R3
    Date: 2015–07–01
  3. By: A.Tugba Sengil
    Abstract: This study is based on research about residential real estate prices of Istanbul in seventeenth century. City of Istanbul which located both Asia and Europe has history of approximately 9000 years. The earliest known settlement of Istanbul dates from 6700 BC at the historic peninsula on European Side. City centre of Istanbul in seventeenth century is also located in this area which is today known as Fatih and Eminonu districts and they are part of World’s Cultural Heritage. In seventeenth century, Istanbul had been part of Ottoman Empire since 1453. For centuries it was the capitol of economics, social life and administration of the Empire and then Republic of Turkey, although the last moved to Ankara after republic is established, yet importance of the city did remain.This study aims to determine how residential real estate market evolved in the long-run with historical perspective. It has discovered that not many studies are existed in the literature about real estates of Istanbul with historical perspective. Additionally this study is also expected to contribute to create a background/basic for further studies in similar subjects such as commercial real estates and different timelines. In order to achieve that a database of sales prices of residential real estates in Istanbul spanning the years from 1600-1699 are going to be put together. Sale registrations of Ottoman Central Istanbul Islamic Courts of seventeenth century provides a large scale of data about relevant subject. Using this database, decade-interval chances in real estate prices are planned to estimate. Moreover, reviewing effects of historical milestones to the house prices during specified period is a goal.As conclusion; in addition to appraising the residential real estate values of seventeenth century in Istanbul, city of average 700.000 population, through central districts, the city’s financial history is going to be explored, especially in terms of city’s residential facilities.
    Keywords: 17Th Century; Grand Bazaar; Istanbul; Residential Real Estate; Valuation
    JEL: R3
    Date: 2015–07–01
  4. By: Kris Inwood; Hamish Maxwell-Stewart; Deb Oxley
    Abstract: The earliest measures of well-being for Europeans born in the Pacific region are heights and wages in Tasmania. Evidence of rising stature survives multiple checks for measurement, compositional and selection bias. The challenges to health and stature seen in other nineteenth-century settler societies (the ‘antebellum paradox’) are not visible here. There was a strong correlation in Tasmania between stature and per capita GDP. We sketch an interpretation highlighting the role of relatively slow population growth and urbanization, a decline in food cost per family member available from a worker’s wage, and early recognition of the importance of public health.
    Date: 2015–04
  5. By: Adel Daoud (Department of Sociology and Work Science, University of Gothenburg and Department of Economics, New School for Social Research); Sebastian Kohl (Max Planck Institute for the Study of Societies)
    Abstract: The conventional story tells us that since the birth of the discipline of sociology, the economic orientation of the discipline has peaked twice: the first peak was during the classical era between 1890 and 1920; the second peak was sometime after 1985, marking Granovetter´s Economic Action and Social Structure paper. We have tested this story by using all full-text articles provided by JSTOR between the periods 1890 to 2014: this contains 142 040 articles and 157 journals. We used a combination of topic modelling (machine learning applied to text) and multilevel modelling (regression) to accomplish this. We have found the following. (1) there is strong evidence for the first peak, but contrary to this narrative, we also find a decreasing proportion of economic topics over the last century. (2) The rise of the new economic sociology as a sub-discipline of sociology, comes not in the form of an increasing focus on general economic issues, but rather in the form of a particular topic mix of organization and social-theory research. (3) We show, accordingly, that this particular topic mix reached its bottom and started to rise by the 1929; it peaked by 1989. (4) We suggest, therefore, that Granovetter´s article (and the new economic sociology) does not mark the beginning of a second peak – as the conventional story has it – but it is rather a product of a preceding sociological interests, innovations, and orientation towards socio-economic theory development. (5) Moreover, we discover that neither the classics nor the new economic sociologists contribute much to an empirical (applied) type of economic topic found in industrial relations and political economy research. In conclusion, the future impact that the discipline of sociology might have on economic oriented research in the social sciences, will most likely require (a) less of a within- and between disciplinary fragmentation that is most likely hampering the potential contributions sociologists can make; (b) more of engaging with applied economic affairs and thus bridge current sub-disciplinary divides. This is crucial in the age of austerity and if we seek to conceive of better socio-economic theories than existing economic theories.
    Date: 2015–09
  6. By: M.Ç. Keskin
    Abstract: Amasya, an important Ottoman city in the 15th century, was governed by the tutor of Sultan Murad II, Yörgüç Pasha (d. 1442) and later successively by Hızır Pasha (d. 1466) brother of Yörgüç Pasha and Mehmed Pasha (d. 1494) son of Hızır Pasha. Yörgüç Pasha’s family, who governed the city, contributed to the reconstruction of Amasya region with their architectural patronage. Yörgüç Pasha commissioned a complex consisting of a zawiya (a multi functional building for worship and accommodation), a madrasa and an imaret (soup-kitchen) in Amasya, several mosques in the towns near Amasya such as Havza, Vezirköprü, Kavak and GümüÅŸ, mektebs (elementary schools) in Tokat and Vezirköprü and a tekke (dervish lodge) in the village of İshakalanı; Åžahbula Hatun, Yörgüç Pasha’s wife, commissioned a masjid, a fountain and a mekteb in Amasya; Mustafa Bey (d. 1444), son of Yörgüç Pasha, commissioned a zawiya-imaret in Havza; Hızır Pasha commissioned a complex consisting of a zawiya, madrasa and imaret in Amasya, a mosque and a tekke in Samsun, a madrasa in Sonisa; Mehmed Pasha commissioned a complex consisting of a mosque, a tabhana (rooms for accommodation), a madrasa and an imaret. The organizations, incomes and expenditures of these charity foundations, that had been served free of charge, were clearly specified by the waqfiyas (endowments) formed by the Yörgüç Pasha family members who had commissioned them. The sources of income of these foundations were the tax percents of several villages which the family had privilege on and the revenue-generating structures commissioned by the family and endowed to them. According to the waqfiyas, they commissioned four hans (caravanserais) one bedesten (covered bazaar), several shops, six mills and eleven hammams around Amasya to fund the foundations. Yörgüç Pasha commissioned a han, seventeen shops and a hammam in Amasya, a han and hammam in Tokat and hamams in GümüÅŸ and İskilip; Mustafa Bey commissioned a hammam in Amasya, a hammam and a han in Havza; Hızır Pasha commissioned a hammam in Amasya, a mill in Ladik; Mehmed Pasha commissioned a hammam and a han in Samsun, a hammam and a mill in Tokat, two hammams in Niksar, four mills in Amasya and a bedesten in Tosya. This study aims to reveal the relations between the charity foundations and endowed properties of Yörgüç Pasha family based on the waqfiyas. 
    Keywords: Amasya; Ottoman Architecture; Pasha; Waqfiya
    JEL: R3
    Date: 2015–07–01
  7. By: Emmanuel Saez; Gabriel Zucman
    Abstract: This paper combines income tax returns with macroeconomic household balance sheets to estimate the distribution of wealth in the United States since 1913. We estimate wealth by capitalizing the incomes reported by individual taxpayers, accounting for assets that do not generate taxable income. We successfully test our capitalization method in three micro datasets where we can observe both income and wealth: the Survey of Consumer Finance, linked estate and income tax returns, and foundations' tax records. We find that wealth concentration was high in the beginning of the twentieth century, fell from 1929 to 1978, and has continuously increased since then. The top 0.1% wealth share has risen from 7%in 1978 to 22% in 2012, a level almost as high as in 1929. Top wealth-holders are younger today than in the 1960s and earn a higher fraction of the economy's labor income. The bottom 90% wealth share first increased up to the mid-1980s and then steadily declined. The increase in wealth inequality in recent decades is due to the upsurge of top incomes combined to an increase in saving rate inequality. We explain how our findings can be reconciled with Survey of Consumer Finances and estate tax data.
    Keywords: income tax, wealth inequality,
    Date: 2015–08
  8. By: B. Ar
    Abstract: After the conquest of Constantinople by the Ottomans the population of the city was found grossly lowered. Many buildings were already deserted before the time of conquest. Mehmed II immediately started construction activities to build a new Turko-Islamic capital. During his reign there was no ideological systematic conversion of churches into mosques, the Byzantine building stock was used for the new functions necessary to be fulfilled urgently. A new group of elites was formed among soldiers who got richer by spoils of war and some buildings were assigned to them to form the new neighborhoods. Needing people for constructions Mehmed II took some extra ordinary measures to raise the population including allowing the escaped locals of Constantinople to reoccupy the buildings they left without paying taxes. He also called for Ottoman elites from former capitals; Bursa and Edirne offering them priviliges such as occupying any empty palace in Constantinople without payments. This paper deals with the function change and ownership of Byzantine building stock after the Ottoman conquest.
    Keywords: Adaptive Reuse; Byzantine Building Stock; Ottoman Usage
    JEL: R3
    Date: 2015–07–01
  9. By: Clark, William C.
    Abstract: In this paper I sketch key episodes in the two thousand year history of interactions between society and environment that have shaped the City of London and its hinterlands. My purpose in writing it has been to provide an empirical puzzle for use in teaching and theorizing about the long term coevolution of social-environmental systems and the potential role of policy interventions in guiding that coevolution toward sustainability. I undertook it because while a lively body of theory has begun to emerge seeking to explain such coevolution, rich descriptive characterizations of how specific social-environmental systems have in fact changed over the long time periods (multi-decade to multi-century) relevant to sustainable development remain relatively rare. One result is that the field of sustainability science lacks a sufficient number of the rich empirical puzzles that any field of science needs to challenge its theorizing, modeling and predictions. This paper reflects the beginning of an effort to provide one such characterization on a topic central to sustainability: the long term development of cities and their hinterlands.
    Date: 2015
  10. By: Wahl, Fabian
    Abstract: This paper contributes to the understanding of the long-run consequences of Roman rule on economic development. In ancient times, the area of contemporary Germany was divided into a Roman and non-Roman part. The study uses this division to test whether the formerly Roman part of Germany show a higher nightlight luminosity than the non-Roman part. This is done by using the Limes wall as geographical discontinuity in a regression discontinuity design framework. The results indicate that economic development - as measured by luminosity - is indeed significantly and robustly larger in the formerly Roman parts of Germany. The study identifies the persistence of the Roman road network until the present as an important factor causing this development advantage of the formerly Roman part of Germany both by fostering city growth and by allowing for a denser road network.
    Keywords: Roman Empire,Economic Development,Germany,Boundary Discontinuity,Transport Infrastructure,Persistence
    JEL: N13 N73 O18 R12 R40
    Date: 2015
  11. By: Stephan Heblich (University of Bristol); Alex Trew (University of St. Andrews)
    Abstract: We exploit employment data from 10,528 parishes across nineteenth century England and Wales and find that a one standard deviation increase in finance employment increases the annualized growth rate of secondary labour by 0.8 percentage points. An endogenous growth model with finance and structural transformation motivates the empirical approach. Since initial banking access in 1817 may have been endogenously determined, we use instrumental variables to predict the location of country banks founded before the industrial take-off could possibly be expected. Distance and subsectoral analysis suggest that the effect of finance is highly localized and particularly strong for intermediate secondary sectors.
    Keywords: Banking; industrial revolution; structural transformation; regional economic growth; urbanization.
    JEL: O11 O16 O40 N23 R11
    Date: 2015–09–07
  12. By: Matthew S. Jaremski; David C. Wheelock
    Abstract: Established by a three person Reserve Bank Organization Committee (RBOC) in 1914, the structure of the Federal Reserve System has remained essentially unchanged ever since, despite criticism at the time and over ensuing decades. This paper examines the selection of cities for Reserve Banks and branches, and of district boundaries. We show that each aspect of the Fed’s structure reflected the preferences of national banks, including adjustments to district boundaries after the Fed was established. Further, using newly-collected information on the locations of each national bank’s correspondents, we find that banker preferences mirrored established interbank connections. The Federal Reserve was thus formed on top of the structure that it was meant to replace.
    JEL: E58 N21 N22
    Date: 2015–09
  13. By: Joanna Dzionek-Kozlowska (University of Lodz)
    Abstract: Alfred Marshall’s approach to economics hides a paradox. On one hand, the ‘father’ of neoclassical economics strongly favoured conducting economics as a positive science. However, the fact that Marshall was such a consistent and determined advocate of this ideal of economic research is puzzling for at least two reasons. Firstly, even a quick glance at his publications allows to notice that his texts are sated with moral teachings. What is more, in referring to the problems of economic policy he not only took into account ethical aspects, but also frequently gave pre-eminence to ethical arguments over conclusions stemming from research grounded solely on the theory of economics. The paper aims to explain the paradox and argues that the complexity of Marshall’s approach arises from his attempts to combine two approaches pointed by Amartya Sen of binding economics and ethics over the centuries: ‘the ethics-related tradition’ with ‘the engineering approach’.
    Keywords: Alfred Marshall, positive economics, normative economics, ethics and economics, economic chivalry
    JEL: B31 M14
    Date: 2015–07
  14. By: Clara Elisabetta Mattei
    Abstract: Current debates on austerity often forget that these policies are almost 100 years old .This paper explores how the combination of austerity and technocracy acted as a powerful tool to secure the compliance of European countries to socio-economic stabilization after WWI. Austerity emerged as an economic, moral and technocratic message as economic experts sought to educate the restless post-war civil society. This paper analyses primary austerity documents from the international economic conferences of Brussels (1920) and Genoa (1922). In addition I use a case study of Italy (1922-1925) to show how austerity succeeded under the first years of Fascism, when the government authorized prominent economics professors to implement the international financial codes devised at Brussels and Genoa. This essay considers the scientific writings of De Stefani, Ricci and Pantaleoni to examine the theoretical roots of the technocratic nature of austerity.
    Keywords: Austerity, Technocracy, Post-WWI Financial Conferences, Economists as Consultants, Fascism
    Date: 2015–05–09
  15. By: Hiroshi Onishi (Faculty of Economics, Keio University)
    Abstract: Of the many origins and traditions of Marxism around the world, some are distinctly non-Western. For example, Maoism, certain schools of Japanese Marxism, and Stalinism have evolved differently from Western anti-neoliberalism. Among them, Japanese Marxists developed various original forms of Marxism, and the most important traditions were Koza-ha and Ronoha schools that originated from the pre-war period. This paper first discusses its influence on South Korean two debates on Korean capitalism, and then, discusses Chinese Marxism which has three special traditions. Some of them resonated with other forms of Asian Marxism. This resonance may have been formed by the essentially similar socio-political situation created by the backwardness of their countries.
    Keywords: Korean Capitalism debates, Social Formation debates, Koza-ha school, Maoism, Two-stage Revolution Theory
    JEL: B24
    Date: 2015–02
  16. By: Xing Li; Megan MacGarvie; Petra Moser
    Abstract: This article exploits a differential increase in copyright under the UK Copyright Act of 1814 - in favor of books by dead authors – to examine the influence of longer copyrights on price. Difference-in-differences analyses, which compare changes in the price of books by dead and living authors, indicate a substantial increase in price in response to an extension in copyright length. By comparison, placebo regressions for books by dead authors that did not benefit from the extension indicate no differential increase. Historical evidence suggests that longer copyrights increase price by improving publishers’ ability to practice intertemporal price discrimination.
    JEL: K00 N33 O3
    Date: 2015–09
  17. By: Hiroshi Onishi (Faculty of Economics, Keio University); Ryo Kanae (Faculty of Economics, Kyoto University (Lecturer))
    Abstract: While it appears that small-population economies were advantageous for growth when Asia's newly industrialized economies (NIEs) were expanding rapidly, we are now seeing a different trend in which large-population countries like China and India have become the most rapidly growing nations in the world. This is true for the BRIC states (Brazil, Russia, India, and China) as a whole. Brazil and Russia also have large populations of over 100 million, and their geopolitical and economic influence is crucial. This is one of the most important features of the present geopolitical economy. The present paper first demonstrates this trend statistically and then proposes the hidden historical law underlying these phenomena. This anti-Malthusian law can be explained by Marxian Optimal Growth Theory, as developed by our research group. This shows that each country experiences its own rapid growth phase over a certain period and finally realizes a higher per capita GDP similar to that of the present advanced nations. Under this trend, GDP balance among countries will become closer to the population balance among countries. It should be a much more equal world.
    Keywords: NIES, BRICS, Large-Population Country, Marxian Optimal Growth Model
    JEL: E11 N30 O11
    Date: 2014–12
  18. By: Edvinsson, Rodney (Dept. of Economic History, Stockholm University)
    Abstract: This study examines whether there was a Malthusian equilibrium mechanism in Sweden 1630–1870. A unique data set on harvests, deaths, marriages and births is used to calculate cumulative elasticities of vital rates with respect to harvest. While earlier studies have mostly focused on the impact of real wage, this study contents that the calorie content of harvests is more related to Malthus’ concept of the ‘produce of land’. It finds that there indeed was a response of vital rates to harvest fluctuations, but there were important structural breaks. While positive checks attenuated after 1720, preventive checks were strengthened. After 1870 preventive checks disappeared, even if positive checks existed up to 1920. The results are robust to different models – DLM, ARMAX and SVAR – and trend specifications.
    Keywords: demography; Maltus; mortality; fertility; economic history
    JEL: N13 N33 N53
    Date: 2015–09–10
  19. By: Oded Galor; Marc Klemp
    Abstract: This research explores the origins of the variation in the prevalence and nature of political institutions across globe. It advances the hypothesis and establishes empirically that variation in the inherent diversity across human societies, as determined in the course of the exodus of Homo sapiens from Africa tens of thousands of years ago, shaped the nature of political institutions across regions and societies. The study establishes that, while human diversity has amplified the beneficial e?ects of institutions, mitigating the adverse e?ects of non-cohesiveness, its simultaneous contribution to heterogeneity in cognitive and physical traits has fostered the scope for domination, leading to the formation and persistence of autocratic institutions. A larger degree of human diversity within societies diminished cohesiveness and therefore stimulated the emergence of institutions that have mitigated the adverse e?ects of non-cohesiveness on productivity. However, the dual impact of human diversity on the emergence of inequality and class stratification have diverted the nature of the emerging institutions towards extractive, autocratic ones. Developing a novel geo-referenced dataset of genetic diversity and ethnographic characteristics among ethnic groups across the globe, the analysis establishes that genetic diversity contributed to the emergence of autocratic pre-colonial institutions. Moreover, the findings suggest that the contribution of diversity to these pre-colonial autocratic institutions has plausibly operated through its dual e?ect on the formation of institutions and class stratification. Furthermore, reflecting the persistence of institutional, cultural, and genetic characteristics, the spatial distribution of genetic diversity across the globe has contributed to the contemporary variation in the degree of autocracy across countries.
    Keywords: Autocracy, Economic Growth, Genetic Diversity, Institutions, Out-of-Africa Hypothesis of Comparative Development
    Date: 2015
  20. By: Eduard Braun (Abteilung für Volkswirtschaftslehre, Technische Universität Clausthal (Department of Economics, Technical University Clausthal))
    Abstract: Before economists and sociologists came up with their own definitions of the term “capital,” it was commonly understood as money invested in businesses by their owners or shareholders, and it continues to be understood this way in everyday business practice. In a recent article, Geoffrey Hodgson (2014) advises economists to return to this pre-Smithian usage of the term. The present paper takes up Hodgson’s demand and develops a theory of capital that is based upon this business notion of capital. It also argues that the Austrian theory of capital, if interpreted correctly, can serve as a starting point. Despite the conviction of its adherents to the contrary, the Austrian theory of capital is not universal or ahistorical, but dovetails with Hodgson’s vision of an approach to capital which analyses historically specific features of capitalism.
    Keywords: Capital Theory; Capitalism; Austrian Economics; Institutional Economics
    JEL: B25 B26 D24
    Date: 2015
  21. By: P.Taltavull de La Paz; F. Juarez
    Abstract: This paper reconstruct the long term serie of housing prices in Spain (aggregate) using statistical methods based on ARIMA models. It build the data for sixties until eighties period in quarterly basis, of weighted house prices for the Spanish aggregate and some selected regions. The method uses 2 proxies for house prices reconstruction, the GDP and Mortgage units, and base the built series on the housing market fundamentals. After that, the paper compare the Spanish housing prices with other long term series available like the UK, France, US, Germany, Netherlands, Italy and Japan. The reconstruction shows the different effect that the inflation process occurs during seventies had on housing prices and the similarities of global cycles among European countries.
    Keywords: Arima Models; Housing Prices; Spain
    JEL: R3
    Date: 2015–07–01
  22. By: Hanne-Lore Bobáková (Department of Tourism and Leisure Activities, School of Business Administration, Silesian University); Martina Chylková (Department of Tourism and Leisure Activities, School of Business Administration, Silesian University)
    Abstract: The article tackles migration in the Czech Republic and Germany until 2013. After introducing migration issues and clarifying some terminology German and Czech literature dealing with this topic is characterized and the contribution target with defined hypotheses is formulated. The subsequent part presents a historical insight into migration issues in the Czech Republic and Germany, followed by research of developments in numbers of foreigners with permanent residence in both countries. The data, which is evaluated, was issued by the Czech Statistical Office.
    Keywords: migration, foreigner, emigration, refugee, residence.
    JEL: F02 F22 J61
    Date: 2015–08–31
  23. By: Asongu, Simplice A
    Abstract: We review about 100 papers on Sino-African relations published during the past 5 years for the most part, in order to put some structure on the existing strands. The literature is classified into dominant schools of thought, namely the: neocolonial or pessimistic; balance-development or optimistic and accommodation schools. After the classification, we reconcile the schools of thought in light of dominant themes and debates on development models, inter alia: (1) pessimists versus (vs) optimists; (2) preferences of rights in development models (economic vs political, national vs human & sovereign vs idiosyncratic); (3) the Washington Consensus vs the Beijing Model and; (4) an African Consensus in both the Washington Consensus and Beijing Model. Both the first and second schools have core values articulated by the New Partnership for Africa’s Development (NEPAD).
    Keywords: Economic relations; China; Africa
    JEL: F19 F21 O10 O19 O55
    Date: 2014–12
  24. By: Mayshary, Joram (Department of Economics, Hebrew University of Jerusalem); Moav, Omer (Department of Economics University of Warwick, School of Economics Interdisciplinary Center (IDC) Herzliya,); Neeman, Zvika (Eitan Berglas School of Economics, Tel-Aviv University,); Pascali, Luigi (Pompeu Fabra University, University of Warwick and CAGE)
    Abstract: We propose that the development of social hierarchy following the Neolithic Revolution was an outcome of the ability of the emergent elite to appropriate cereal crops from farmers and not a result of land productivity, as argued by conventional theory. We argue that cereals are easier to appropriate than roots and tubers, and that regional differences in the suitability of land for different crops explain therefore differences in the formation of hierarchy and states. A simple model illustrates our main theoretical argument. Our empirical investigation shows that land suitability for cereals relative to suitability for tubers explains the formation of hierarchical institutions and states, whereas land productivity does not.
    Keywords: Geography ; Hierarchy ; Institutions ; State Capacity
    Date: 2015
  25. By: A. Adair; J. Berry; D. Mcilhatton; B. Martens; S. McGreal
    Abstract: Now in its 20th anniversary year the European Real Estate Society (ERES) has actively promoted quality-led research by creating a structured and permanent network involving real estate academics and professionals across Europe. The organisational structure within ERES supports the Society’s mission which is dedicated to facilitating and advancing the discipline of real estate by raising the quality, status and reach of real estate research and education. The Society aims to fulfil its mission by providing different forums for constructive engagement by academics, private sector stakeholders and public sector organisations within the real estate discipline.Adopting a truly European perspective to the rapid internationalisation of real estate markets has increased in importance over the past two decades of the Society’s history. Engagement in and co-operation with other national research communities as well as our international sister societies links ERES to an extensive network within the wider international real estate research community. In accordance with the vision of the founding members of the Society, ERES remains committed to creating added value for our membership, stakeholders and sponsors. With a current membership of 700 members (2014), ERES is dedicated to engaging with and continuing to support the development, application and out-reach of high quality research across Europe.This paper will consider the 20 year historical perspective in the development of the research profile of the European Real Estate Society including change and progression over time in the themes, topics and quality of real estate research. Specifically the paper will consider the new emerging research focus and how the objectives of the Society have helped facilitate its members in the production of quality research. The paper will also project forward to determine the potential in promoting a forum for the discussion and dissemination of real estate research.
    Keywords: Eres; Historial; Perspective; Themes; Topics
    JEL: R3
    Date: 2015–07–01
  26. By: David Merrett
    Date: 2015–08
  27. By: Phil Ender (UCLA Statistical Consulting Group (Ret))
    Abstract: The origins and evolution of the UCLA Statistical Consulting Group. The presentation will cover the history of the UCLA Statistical Consulting Group as well as one approach to the practice of statistical consulting in an academic environment. UCLA Statistical Consulting provides services to faculty, graduate students and campus researchers. Additionally, Stat Consulting maintains a website popular not only with Stata users but also users of other statistical packages.
    Date: 2015–08–02
  28. By: Andrew McKay; Jukka Pirttilä; Finn Tarp
    Abstract: Ghana is relatively rare among Sub-Saharan African countries in having had sustained positive growth every year since the mid-1980s. This paper analyses the nature of the growth and then presents an analysis of the evolution of both consumption poverty and non-monetary poverty outcomes over this period, showing improvements in almost all indicators over this period. At the same time, inequality has risen over the past 20 years and spatial inequality, in both monetary and non-monetary outcomes, remains an important concern. This increase in inequality is one reason why growth has not led to faster poverty reduction.
    Date: 2015
  29. By: A. Jadevicius; S. Huston; A. Baum
    Abstract: The dissemination of robust real estate data helps to improve market efficiency. Sound investment analysis requires long series to form a long-term view but, whilst this has been available for the commercial sector, the same has not been true for agricultural land. Comparable series on the long-term market position of the farmland in England are fragmented. The current paper navigates the methodological complexities involved in rectifying the land price information deficiency. The study employs chain-linking approach to construct a long-term farmland series for England. It then adjusts series for inflation to examine real land market returns. The constructed 200 year series of English farm land prices performance tightens analysis and enhances decision making.
    Keywords: Chain-Linking; England; Farmland; Prices; Returns
    JEL: R3
    Date: 2015–07–01
  30. By: Nicolas Berland (DRM - Dauphine Recherches en Management - CNRS - Université Paris IX - Paris Dauphine); Marie Redon (DRM - Dauphine Recherches en Management - CNRS - Université Paris IX - Paris Dauphine)
    Abstract: This article focuses on the career paths of the CFOs. This professional group, which has been expanding since the 1980s, saw its influence grow with the financialization of organisations. Thanks to a periodic survey of 240 résumés of CFOs, we aim at understanding how financialization guides their career paths, shapes their identity, and strengthens their legitimacy in the organisation. This research will help us understand how these actors promote the financialization of organisations, and contribute to the currents of financialisation and the sociology of finance.
    Abstract: Cet article s'intéresse aux trajectoires professionnelles des directeurs administratifs et financiers (DAF). Ce groupe professionnel, en pleine expansion depuis les années 1980, voit son influence s'accroître avec la financiarisation de l'entreprise. Au moyen d'une étude périodique des Curriculum Vitae de 240 DAF, nous cherchons à comprendre comment, la financiarisation oriente leurs trajectoires professionnelles, façonne leur identité, et renforce leur légitimité dans l'entreprise. Ces recherches constituent un premier pas vers la compréhension de l'influence qu'ont ces acteurs dans le processus d'institutionnalisation de la finance au sein de l'entreprise, et contribuent aux courants de la financiarisation et de la sociologie de la finance.
    Date: 2015–05–19

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