作者：Majewski, J
摘要：Comparing investment in transportation companies in Albemarle county, Virginia, and Cumberland county, Pennsylvania, I analyze why nineteenth-century internal improvements revolutionized the northern economy, but only seemed to increase the South's dependence upon plantation agriculture. In both counties local investors and state governments financed early improvements. Beginning in the 1830s, however, urban capitalists financed most Pennsylvania railroads, leading to the eventual integration ...
作者：Bordo, MD; Rockoff, H
摘要：In this article we argue that during the period from 1870 to 1914 adherence to the gold standard was a signal of financial rectitude, a ''good housekeeping seal of approval,'' that facilitated access by peripheral countries to capital from the core countries of western Europe. Examination of data from nine widely different capital-importing countries, using a model inspired by the Capital Asset Pricing Model, reveals that countries with poor records of adherence were charged considerably more ...
