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作者:Boston University
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作者:State University of New York (SUNY) System; State University of New York (SUNY) - Oswego; University of Louisiana System; University of New Orleans
摘要:Using an event study approach, we find the announcement by the Bank of France in 1907 to accelerate gold payments directly for U.S. crops is associated with the ultimate upturn in U.S. equity prices. Spillover to the French financial markets accompanied the Regents' decision to release sterilized reserves, thereby arresting the drainage of coin in French circulation. Counterfactual analysis shows that the facility alone would have been unlikely to end the crisis. Investors may have revised equ...
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作者:University of Michigan System; University of Michigan
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作者:Universidade Federal de Pernambuco
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作者:Colgate University
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作者:Santa Clara University
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作者:Institut d'Etudes Politiques Paris (Sciences Po)
摘要:Was colonization costly for France? Did French taxpayers contribute to colonies' development? This article reveals that French West Africa's colonization took only 0.29 percent of French annual expenditures, including 0.24 percent for military and central administration and 0.05 percent for French West Africa's development. For West Africans, the contribution from French taxpayers was almost negligible: mainland France provided about 2 percent of French West Africa's revenue. In fact, coloniza...
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作者:University of Oxford
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作者:Hong Kong University of Science & Technology; Shandong University
摘要:We examine the impact of rigorous trade suppression during 1550-1567 on the sharp rise of piracy in this period of Ming China. By analyzing a uniquely constructed historical data set, we find that the enforcement of a sea (trade) ban policy led to a rise in pirate attacks that was 1.3 times greater among the coastal prefectures more suitable for silk manufacturesour proxy for greater trade potential. Our study illuminates the conflicts in which China subsequently engaged with the Western power...
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作者:Northwestern University