作者：University of Michigan System; University of Michigan
作者：University of Mississippi
摘要：I study the impacts of one of the largest regional development projects in American History, the Tennessee Valley Authority (TVA), on a variety of economic outcomes. The TVA has been noted as an example of how to develop a region's water power potential to stimulate growth. In what follows, I show using a county-level panel dataset, that the TVA had little impact on economic growth in the South. I attribute these results to the institutional history of the TVA and the contractual agreements it...
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...
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...
