This paper shows that the Glorious Revolution of 1688 broadened access to Parliament for families needing rights to sell land in so-called estate bills. Bills were on average 14–27 percentage points more likely to be for gentry families and not aristocratic families in legislative sessions after the Revolution compared to sessions before. Regression and archival evidence suggest that parliamentary certainty was primarily responsible for improved access by altering families’ entry calculus and brokers’ recruitment of new business. More broadly, the paper provides insight into the ways in which political institutions affect access to and the provision of property rights.

In the second half of the eighteenth century, Dutch bankers channeled investors’ funds to sugar and coffee plantations in the Caribbean, Surinam in particular. Agency problems between plantation owners, bankers, and investors led to an arrangement called negotiaties. Bankers oversaw plantations’ cash flows and placed mortgage debt with investors. We demonstrate how this securitization arrangement worked using market-wide data and detailed records from banker F. W. Hudig. During the boom, debt contracts and their securitization were an effective solution for planters, bankers, and investors. However, the market crashed after an oversupply of credit. This led to inefficient restructuring due to debt overhang.

Religious communities are important providers of social insurance. We show that risk associated with oil dependence facilitated the proliferation of religious communities throughout the U.S. South during the twentieth century. Known oil abundance predicts higher rates of church membership, which are not driven by selective migration or local economic development. Consistent with a social insurance channel, greater oil price volatility increases effects, while greater access to credit, state-level social insurance, and private insurance crowd out effects. Religious communities limit spillovers of oil price shocks across sectors, reducing increases in unemployment following a negative shock by about 30 percent.

We offer new evidence on the spatial economic impact of Italian unification. Adopting municipal population as a proxy for local economic activity, we construct a new geocoded dataset spanning the pre- and post-unification periods and discover robust evidence of an acceleration in growth near the former borders. A disproportionate improvement in market access boosted growth in these locations when barriers to trade were dismantled. Indirectly, unification’s decisive contribution to intraregional market integration, local specialization and exchange, and economic development is revealed.

External revenues blunt investments in fiscal capacity. But how do external revenues affect investments in legal capacity? In a simple model of state capacity investment, external revenues should be positively correlated with investments in legal capacity. But this implication could flip if fiscal capacity lowers the cost of legal capacity investments. I test the model by looking at Haiti in 1942 when U.S. mobilization caused a negative shock to external revenues. Contrary to the basic model, the shock led to an increase in legal capacity. This puzzle is explained by institutions that tied fiscal and legal capacity investments.

This paper examines the patterns of technology transfer from Britain to France during the early phases of industrializing using a dataset comprising all patents granted in France in the period 1791–1844. Exploiting the peculiarities of French legislation, we construct an array of patent quality indicators and investigate their determinants. We find that patents filed by British inventors or French inventors with personal connections to British inventors were of relatively higher quality. Overall, our results show that the French innovation system was capable of attracting and effectively absorbing key technologies from Britain.

The 1930s American Dust Bowl created archetypal “Dust Bowl migrants,” refugees from environmental collapse. I examine this archetype, comparing migration from more-eroded and less-eroded counties to distinguish Dust Bowl migrants from other migrants. Dust Bowl migrants were “negatively selected,” in years of education, compared to other migrants who were “positively selected.” Dust Bowl migrants had lower incomes than natives in their destinations, which is reflected in popular impressions. I estimate strikingly modest impacts of the Dust Bowl on average wage incomes in 1939, however, which contrasts with the Dust Bowl’s large and enduring impacts on agricultural land.

The economic history of the United States is that of Europeans and their institutions. Indigenous nations are absent. This absence is partly due to a lack of data but perhaps also to a perception that Indigenous communities contributed little to U.S. growth. Three case studies explore the economic complexity and social stratification across different nations/regions prior to contact. Migrants to the United States came not to an empty land but one with settled agriculture, complex production processes, and extensive trade relations, upon which Europeans built.

Does the prosperity of medieval manors depend on their position in the feudal system? How large are these effects? And what are the underlying economic mechanisms? Using Domesday Book, a unique country-wide survey conducted by William the Conqueror, we reinterpret the eleventh-century English feudal system as a network in which manors are linked to one another based on their common ownership structure. Both a reduced-form and a more structural approach reveal the existence of external economies of scale: manorial prosperity was closely intertwined with the fortune of feudal peers. Our findings quantitatively establish the existence of feudal coordination in High-Medieval agricultural activities, revealing how institutionalized interactions could serve to mitigate transaction costs.

This paper provides the first evidence of the effect of tax policy on violent attacks against Black politicians. I find a positive effect of local tax revenue on subsequent violence against Black politicians. A dollar increase in per capita county taxes in 1870 increased the likelihood of a violent attack by more than 25 percent. The result is robust to controls for numerous economic, historical, and political factors. I also find counties where Black officeholders were attacked have the largest tax reversions. This provides the first quantitative evidence that Reconstruction political violence was specifically related to Black political efficacy.

We use historical census data to show that Sweden exhibited high levels of intergenerational occupational mobility several decades before the rise of the welfare state. Mobility rates were higher than in other nineteenth- and twentieth-century European countries, closer to those observed in the highly mobile nineteenth-century United States. We leverage mobility variation across Swedish municipalities to shed light on potential determinants: economic growth and migration are positively correlated with mobility, consistent with the patterns observed across countries.

This article shows that democracy in Weimar Germany was eroded by the political legacy of WWI. Using novel data on WWI veterans and an election panel from 1893–1933, I find that former soldiers are associated with a sizeable, persistent, and momentous shift in political preferences from left to right. I provide suggestive evidence that war participation made veterans highly receptive to nationalism and Anti-Communism. This alienated them from leftwing parties and drove the majority toward the political right. Contrary to historical accounts, veterans’ shifts in political preferences cannot be explained by exposure to violence or other polarizing post-war events.

Secure property rights are usually considered to be essential for sustained economic development. In England, it is debated whether property rights have been secure since the medieval period or if they were only established after the Glorious Revolution. In this context, the paper examines the Court of Wards, which from 1540 to 1646 administered the Crown’s right to take custody of children and their lands when these were held by feudal-military tenures. The paper shows that wardship was a common occurrence, its exactions arbitrary but often heavy, and that it reduced the value of lands held by these tenures.

We study the impact of the 1907 Panic, the most severe economic crisis before the Great Depression, on the selection of Mexican immigration. We find that migrants were positively selected on height before the crisis. This pattern changed to negative selection during the crisis but returned to positive selection afterward. Adjustments in selection were partially mediated by the enganche, a historical labor-recruiting system that reduced migration costs but only for taller laborers with above-average earnings potential. We document that labor recruiting contributed to maintaining the relatively constant height profile of the migration flow in the short run.

Does market access affect information technology by shaping its diffusion and adoption? The introduction of the telephone in Bavaria is used to demonstrate that local and external market access affected both. External connections shortened the diffusion time of exchanges by 3 percent on average, while 4 percent of lines were due to such inter-city communication links. However, relatively stronger local effects from population size and demand for communication services, especially in larger cities, imply that initially, the telephone was primarily a local urban amenity that also became an external communication link when it rolled out to more rural places over time.

Alfred Marshall argued that the malaise of public companies in Edwardian Britain was due to the separation of ownership from control and a lack of professional management. In this paper, we examine the ownership and control of the c.1,700 largest British companies in 1911. We find that most public companies had a separation of ownership and control, but that this had little effect on their performance. We also find that manager characteristics that proxy for amateurism are uncorrelated with performance. Ultimately, our evidence suggests that, if Marshall was correct in identifying a corporate malaise in Britain, its source lay elsewhere.

New data are used to construct a time series of real GDP in Germany for the period 1500–1850 using an indirect output estimation technique that relies on wages, prices, and sectoral employment. Until the mid-seventeenth century, real GDP per capita moved inversely with population. The eighteenth century saw a modest rise in output per head. From the late 1810s, economic growth gradually accelerated. The results shed new light on the reversal of fortunes in early modern Europe and the transition from a Malthusian regime to modern economic growth.

This paper studies the average and heterogeneous effects of railway access on parish-level population, income, and industrialization in Württemberg during the Industrial Revolution. We show that the growth-enhancing effect of the railway was much greater in parishes that were larger and more industrial at the outset. However, such early industrial parishes were rare in the relatively poor German state. This might explain why we find small average growth effects, which only increase at the end of the nineteenth century. Heterogeneity in the impact of the railway thus increased economic disparities within Württemberg and contributed to the state’s relatively sluggish growth.

This article uses new linked full-count census data for Canada to document intergenerational occupational mobility from 1871 to 1901. We find significant differences among Canadian regions and language groups, with linguistic minorities experiencing notably lower rates of intergenerational mobility. International comparisons place Canada midway between other economies in the Americas and the most mobile European societies. Decompositions of overall mobility show that the Canadian experience shared the New World feature of high mobility from manual occupations, but also the Old World feature of greater persistence in white-collar jobs.

How did the 1918 influenza pandemic affect female labor force participation in India over the short run and the medium run? We use an event-study approach at the district level and four waves of decadal census data in order to answer this question. We find that districts most adversely affected by influenza mortality saw a temporary increase in female labor force participation in 1921, an increase that was concentrated in the service sector. We find suggestive evidence that distress labor supply by widows and rising wages help account for this result.