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作者:International Monetary Fund
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作者:Universite Paris-VIII; Universite Paris Saclay
摘要:In this study we show that French foreign investment from the end of the nineteenth century until the eve of the First World War was driven by economic and financial considerations. This refutes the hitherto accepted thesis that French capital exports were motivated by diplomatic and political factors. By using economic modeling that combines microeconomic and econometric approaches, we show that the geographic distribution of French financial flows was consistent with rational economic behavi...
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作者:Stanford University
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作者:Daudin, G
摘要:This article studies slave and other long-distance trades in eighteenth-century France. The data cover 238 ventures from seven French harbors between 1710 and 1780. Using the undiscounted benefit-cost ratio as a proxy for the internal rate of return, the article shows that these investments were more liquid, shorter, and more profitable than private notarized credit, without higher risk. They were safer and had a shorter duration than government bonds, without being less liquid or less profita...
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作者:University System of Georgia; Georgia Institute of Technology
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作者:Massachusetts Institute of Technology (MIT)
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作者:University of London; London School Economics & Political Science
摘要:The issue of why productivity growth during the British industrial revolution was slow despite the arrival of famous inventions is revisited using a growth accounting methodology based on an embodied innovation model. The results highlight the relatively small and long-delayed impact of steam on productivity growth even when capital deepening is taken into account. Even so, technological change including embodiment effects accounted entirely for the acceleration in labor productivity growth th...
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作者:Montana State University System; Montana State University Bozeman
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作者:University of Glasgow
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作者:Brigham Young University