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作者：Vanderbilt University; Colgate University
摘要：Studies have shown a connection between finance and growth, but most do not consider how financial and real factors interact to put a virtuous cycle of economic development into motion. As the main transportation advance of the nineteenth century, railroads connected established commercial centers and made unsettled areas along their routes better candidates for development. We measure the strength of links between railroads and banks in seven Midwest states using an annual transportation geog...
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作者：Gabel, David
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作者：George Mason University
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作者：University System of Maryland; University of Maryland Baltimore County
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作者：University of London; London School Economics & Political Science
摘要：By analyzing a newly compiled data set of interest rates on public annuities in early modern Italy, this article finds that the cost of borrowing fell in spite of growing debts and stagnating fiscal revenues. Feudalism and clerical interference increased the cost of borrowing, while parliaments, wars, and centralized fiscal institutions mattered little. The constitutional representation of creditors may have meant significant markups for republican oligarchs. These results cast doubts on the c...
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作者：University of Pennsylvania
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作者：University of Arizona
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作者：Yale University
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作者：Rutgers University System; Rutgers University New Brunswick
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作者：University of California System; University of California Davis; National Bureau of Economic Research; Williams College
摘要：Careful handling of an eclectic data set reveals how unequal were the incomes of different classes of Russians on the eve of Revolution. We estimate incomes by economic and social class in each of the fifty provinces of European Russia. On the eve of military defeat and the 1905 Revolution, Russian income inequality was middling by the standards of that era, and less severe than is inequality today in China, the United States, and Russia itself. We note how the interplay of some distinctive fi...
