作者：University System of Georgia; Georgia Institute of Technology
作者：Stanford University
摘要：The difficulty sovereign actors face in making their promises credible is widely appreciated (e.g., North and Weingast 1989; Myerson 2008). In this article, I argue that the English repeatedly used institutions of monopoly brokerage to mediate trades between the sovereign (offering various promises) and subjects (offering revenues). Once set up-at different times in different market-sinstitutions of monopoly brokerage sparked substantial and abrupt growth in state revenues. Moreover, these rev...
作者：University of Massachusetts System; University of Massachusetts Lowell
作者：University System of Ohio; Miami University
作者：State University System of Florida; Florida State University; National Bureau of Economic Research; University of Arizona; National Bureau of Economic Research
摘要：To isolate the impact of access to electricity on local economies, we examine the impact of the Rural Electrification Administration low-interest loans in the 1930s. The REA provided loans to cooperatives to lay distribution lines to farms and aid in wiring homes. Consequently, the number of rural farm homes electrified doubled in the United States within five years. We develop a panel data set for the 1930s and use changes within counties over time to identify the effect of the REA loans on a...
作者：Rutgers University System; Rutgers University New Brunswick
