European Economic History - Rutgers University



European Economic History

Economics 540

Spring 2005

Professor Eugene N. White

Department of Economics

New Jersey Hall 301c

Rutgers University

732-932-7486

white@economics.rutgers.edu



Office Hours:

Mondays 11-12 am, Wednesdays 3-4 pm

or by appointment

This class is intended to provide students with a broad sweep of major issues in European Economic History and an opportunity to delve deeply into some of the leading controversies. The format of the course is a mixture of lectures and discussion.

The attached list is a bibliography not a reading list. A limited number of articles will be assigned from the list as required reading. For each topic, I will give an introductory lecture. After the lecture, each student will present one article, drawn from the reading list. These presentations will be followed by a general class discussion. Class participation is very important and will count for 20 percent of your final grade. The two take home exams are intended will provide opportunities for written analyses of the major issues.

The research paper should be an empirical study of any topic in European Economic History. It should be approximately 30 pages in length. The extensive reading list is intended as a starting point for selecting a topic, although students may choose other issues. Each paper should include a clear statement of the problem, controversy, policy or event. A brief survey of the literature should follow. For the empirical part, the data, theoretical approach, and quantitative methods should be described before presenting the results, implications and conclusions. Towards the end of the course, you will have an opportunity to present your research to the class.

Requirements

Class Participation (20%),

Topic for Term Paper Due: February 4

Take Home Exam, typed, (20%) Due Feb 18

Term Paper Abstract and Bibliography Due March 4

Term Paper, Due April 29 (40%)

Take Home Exam, typed Due May 6 (20%)

Tentative Calendar

Jan 18 Why Study Economic History?

Jan 21 No Class

Jan 25 Why Are We So Rich and They So Poor? Issues of Measurement

Jan28 The First Wave--Dimensions

Feb1 The First Wave--Productivity

Feb 4 Before the Industrial Revolution--Agriculture

Feb 8 Before the Industrial Revolution—Why Was Growth Slow?

Feb 11 Poverty and Famine

Feb 15 The Standard of Living: Heights and Health

Feb 18 The Spread of Economic Growth?

Feb 22 When Did Globalization Begin?

Feb 25 Free Trade or Protection?

Mar 1 International Capital Markets

Mar 4 Does Finance Matter for Growth: Banks v. Markets

Mar 8 Does Finance Matter? Are there Financial Revolutions?

Mar 11 No Class

Spring Break March 12-20

March 22 Does Finance Matter? Country Studies

March 25 Does Finance Matter? Industry Studies

Mar 29 Bubbles? Manias?

April 1 War and Economic Growth

April 5 How to Finance a War

Apr 8 Reparations: Making the Loser Pay

Apr 12 Presentation of Research Papers

Apr 15 Presentation of Research Papers

Apr 19 Presentation of Research Papers

Apr 22 Presentation of Research Papers

Apr 26 Presentation of Research Papers

Apr 27 Last Day of Class: The 2nd Half of the 20th Century, Final Papers Due

Exam May 6

Bibliography

I. Why Study Economic History?

Donald McCloskey, “Does the Past Have Useful Economics? Journal of Economic Literature (June 1976), pp. 434-461.

Christina Romer, “The End of Economic History?” Journal of Economic Education (Winter 1994), pp. 49-66.

Claudia Goldin, “Cliometrics and the Nobel,” Journal of Economic Perspectives 9 (Spring 1995), pp. 191-208.

II. Long Term Economic Growth in Historical Perspective or Why are We Rich and They are Poor? And The Measurement of Nations

David Landes, “Why Are We so Rich and They So Poor,” American Economic Review (May 1990), pp. 1-13.

Paul M. Romer, “Why, Indeed, in America? Theory, History and the Origins of Modern Economic Growth,” American Economic Review (May 1996), pp. 202-206.

Robert J. Barro and Xavier Sala-I-Martin, “Technological Diffusion, Convergence, and Growth,” Journal of Economic Growth Vol. 2 (1). p 1-26. March 1997.

Angus Maddison, The World Economy: A Millennial Perspective (OECD, 2001).

Leandro Prados de la Escosura, “International Comparisons of Real Product, 1820-1990: An Alternative Data Set,” Explorations in Economic History 37 (2000), pp. 1-41.

Robert C. Allen, “The Great Divergence in European Wages and Prices from the Middle Ages to the First World War,” Explorations in Economic History 38 (October 2001), pp. 411-447.

Jan Luiten van Zanden, “Rich and poor before the Industrial Revolution: a comparison between Java and the Netherlands at the beginning of the 19th century,” Explorations in Economic History 40 (January 2003), pp. 1-23.

David Good and Tongshu Ma, “The economic growth of Central and Eastern Europe in Comparative Perspective,” European Review of Economic History (August 1999), pp. 103-138.

III. The First Wave: The British Industrial Revolution

A. The First Wave: Dimensions

Donald McCloskey, “The industrial revolution 1780-1860: a survey,” in R. Flood and D. McCloskey, eds., The Economic History of Britain Since 1700 (1981), pp. 103-127.

Nicholas F.R. Crafts, “The First Industrial Revolution: A Guided Tour for Growth Economists,” American Economic Review (May 1996), pp. 197-207.

Joel Mokyr, “Technolgical change, 1700-1830” and Nick Crafts, “The Industrial Revolution,” in Roderick Floud and Donald McCloskey, “The Economic History of Britain Since 1700 (Second Edition, 1994), pp. 12-59.

N.F.R. Crafts, “British Economic Growth, 1700-1831: A Review of the Evidence,” Economic History Review (May 1983), pp. 177-199.

N.F.R. Crafts and C.K. Harley, “Output growth and the British industrial revolution: a restatement of the Crafts-Harley view,” Economic History Review (1992), pp. 703-730.

J. C. Esteban, “British Textile Prices 1770-1831: Are British Growth Rates Worth Revising Again?” Economic History Review (1994), pp. 66-105.

Terence Mills and N.F.R. Crafts, “Trend Growth in British Industrial Output, 1700-1913: A Reappraisal,” Explorations in Economic History (July 1996), pp. 277-295.

David Greasley and Les Oxley, “Endogenous Growth or Big Bang: Two View of the First Industrial Revolution,” Journal of Economic History (1997), pp. 935-949.

David Greasley and Les Oxley, “British Industrialization, 1815-1860: A Disaggregate Time-Series Perspective,” Explorations in Economic History (January 2000), pp. 98-119.

C.K. Harley, “Cotton Textile Prices and the Industrial Revolution” Economic History Review (1998), pp. 49-83.

B. The First Wave: The British Industrial Revolution--Productivity

Peter Temin, “Two Views of the British Industrial Revolution,” Journal of Economic History (1997), pp. 63-82.

C. Knick Harley and N.F.R. Crafts, “Simulating the Two Views of the British Industrial Revolution,” Journal of Economic History (September 2000), pp. 819-841

Peter Temin, “A Response to Harley and Crafts,” Journal of Economic History (September 2000), pp. 842-846.

Nicholas Crafts and Terence C. Mills, “Was 19th century British growth steam-powered? The climacteric revisited,” Explorations in Economic History 41 (April 2004), pp. 156-171.

Nicholas Crafts, “Productivity Growth in the Industrial Revolution: A New Growth Accounting Perspective,” Journal of Economic History 64 (June 2004), pp. 521-535.

Pol Antras and Hans-Joachim Voth, “Factor prices and productivity growth during the British industrial revolution,” Explorations in Economic History 40 (January 2003), pp. 52-77

IV. Before the Industrial Revolution: Agriculture

A. The Growth of Agricultural Productivity

J.L. Bolton, The Medieval English Economy, 1150-1500 (1980), pp. 9-44.

Robert C. Allen, “Tracking the agricultural revolution in England,” Economic History Review (May 1999), pp. 209-235.

Robert C. Allen, “Economic structure and agricultural productivity in Europe, 1300-1800,” European Review of Economic History (April 2000), pp. 1-26.

Robert C. Allen, “The Growth of Labor Productivity in Early Modern English Agriculture,” Explorations in Economic History 25 (1988), pp. 117-46.

Robert Allen and Cormac O Grada, “On the Road Again with Arthur Young: English, Irish, and French Agriculture during the Industrial Revolution,” Journal of Economic History (1988), pp. 93-116.

Robert Allen, “Inferring Yields from Probate Inventories,” Journal of Economic History 48 (1988), pp. 117-123.

B. Why Was Growth So Slow?

Donald McCloskey, “The Economics of Enclosure: A Market Analysis,” in William Parker and Eric L. Jones, European Peasants and Their Markets (1979).

Donald McCloskey, “The Open Fields of England: Rent, Risk and the Rate of Interest,” in David Galenson, ed., Markets in History (Cambridge, 1989), pp. 5-51.

Donald McCloskey, “The Prudent Peasant: New Findings on Open Fields,” Journal of Economic History (June 1991) Vol. 51 (2). p 343-55.

Donald McCloskey and John Nash, “Corn at Interest: The Extent and Cost of Grain Storage in Medieval England,” American Economic Review. (March 1984)Vol. 74 (1). p 174-87

Robert C. Allen, “The Efficiency and Distributional Consequences of Eighteenth Century Enclosures,” Economic Journal (December 1982), pp. 937-953.

Jane Humphries, “Enclosures, Common Rights and Women,” Journal of Economic History (March 1990).

Gregory Clark, “The Cost of Capital and Medieval Agricultural Technique,” Explorations in Economic History (1988), pp. 265-294.

Gregory Clark, “Commons Sense: Common Property Rights, Efficiency and Institutional Change,” Journal of Economic History (March 1998), pp. 73-102.

Phillip Hoffman, “Institutions and Agriculture in Old Regime France,” Politics and Society (1988), pp. 241-262.

V. Who Benefited from the Industrial Revolution?

A. Poverty and Famine

Robert W. Fogel, The Escape from Hunger and Premature Death, 1700-2100: Europe, America and the Third World (Cambridge, 2004).

Joel Mokyr and Cormac O’Grada, “What do people die of during famines? The Great Irish Famine in comparative perspective,” European Review of Economic History 6 (December 2002).

Friedrich Engels, The Condition of the Working Class in England (1844), 53-87.

Peter Lindert and Jeffrey Williamson, “English Workers’ Living Standards During the Industrial Revolution: A New Look,” Economic History Review (February 1983), pp. 1-15.

N.F.R. Crafts, “English Workers’ Real Wages During the Industrial Revolution: Some Remaining Problems,” Journal of Economic History (March 1985), pp. 139-144.

Charles H. Feinstein, “Pessimism Perpetuated: Real Wages and the Standard of Living in Britain during and after the Industrial Revolution,” Journal of Economic History (September 1998), pp. 625-658.

Jan L. Van Zanden, “Wages and the Standard of Living in Europe, 1500-1800,” European Review of Economic History (August 1999), pp. 175-198.

B. Heights and Health

Richard Steckel, “Heights and National Income,” Historical Methods 16 (1983), pp. 1-7.

Stephen Nicholas and Richard H. Steckel, “Heights and Living Standards of English Workers During the Early Years of Industrialization, 1770-1815,” Journal of Economic History (December 1991), pp. 937-957.

Joel Mokyr and Cormac O Grada, “Height and Health in the United Kingdom, 1815-1860: Evidence from the East India Company Army,” Explorations in Economic History 33 (April 1996), pp. 141-168.

Richard H. Steckel and Roderick Floud, Health and Welfare during Industrialization (Chicago, 1997). Articles on Britain, France, German, Sweden and the Netherlands.

N. F. R. Crafts, “The Human Development Index and changes in the standards of living: Some Historical Comparisons,” European Review of Economic History (December 1997), pp. 299-322.

Robert C. Allen, “Progress and poverty in early modern Europe,” Economic History Review LVI (2003), pp. 403-443.

Richard H. Steckel and Roderick Floud, eds. Health and Welfare during Industrialization (Chicago, 1997): Chapter 1 Engerman (survey), Chapter 2 Costa and Steckel (U.S.), Chapter 3 Floud and Harris (Britain), Chapter 4, Sandberg and Steckel (Sweden), Chapter 5, Weir (France), Stock and Floud, Conclusions.

Nicholas Crafts, “The Human Development Index, 1870-1999: Some revised estimates,” European Review of Economic History 6 (December 2002), 395-405.

VI. The Spread of Economic Growth

Stephen N. Broadberry, “Comparative productivity in British and American manufacturing during the nineteenth century, Explorations in Economic History 31 (1994), pp. 21-48.

Gregory Clark, “Why isn’t the whole world developed? Lessons from the cotton mills,” Journal of economic History 47 (1987), pp. 141-173.

Stephen Broadberry, “How did the United States and Germany overtake Britain? A Sectoral analysis of comparative productivity levels, 1870-1990,” Journal of Economic History 58 (1998), pp. 375-407.

A. Booth, “The manufacturing failure hypothesis and the performance of British industry during the long boom,” Economic History Review LVI (2003), pp. 1-33.

Stephen Broadberry and Nicholas Crafts, “UK productivity performance from 1950 to 1979: a restatement of the Broadberry-Crafts view,” and Booth’s ReplyReview LVI (2003), pp. 718-735.

Timothy Leunig, “A British industrial success: Productivity in the Lancashire and New England cotton spinning industries a century ago,” Economic History Review LVI (2003), pp. 90-117.

Special Issue on Technology and Productivity in History Perspective, European Review of Economic History 4 (August 2000).

VII. Globalization: Handmaiden or Hindrence?

A. When Did Globalization Begin?

Kevin O’Rourke and Jeffrey G. Williamson, “When did globalization begin?” European Review of Economic History 6 (April 2002), pp. 23-50

Dennis O. Flynn and Arturo Giraldez, “Path dependence, time lags and the firth of globalization: A critique of O’Rourke and Williamson,” and Kevin H. O’Rourke and Jeffrey G. Williamson, “Once more: When did globalization begin?” European Review of Economic History Vol 8, (April 2004), pp. 109-119

Kevin O’Rourke, “The Grain Invasion, 1870-1913,” Journal of Economic History (December 1997), pp. 775-801.

Jeffrey Williamson, “Globalization, Labor Markets and Policy Backlash in the Past,” Journal of Economic Perspectives (Fall 1998), pp. 51-72.

Kevin O’Rourke, Alan Taylor, and Jeffrey Williamson, “Factor Price Convergence in the Late Nineteenth Century,” International Economic Review (1996), pp. 499-530.

Alan Taylor and Jeffrey Williamson, “Convergence in the Age of Mass Migration,” European Review of Economic History (1997), pp. 27-63.

Jeffrey Williamson, “The Evolution of Global Labor Markets Since 1850,” Explorations in Economic History (1995), pp. 1-54.

Jeffrey Williamson, “Globalization, Convergence and History,” Journal of Economic History (1996), pp. 1-30.

Timothy J. Hatton and Jeffrey G. Williamson, The Age of Mass Migration (Oxford, 1998).

Kevin O’Rurke and Jeffrey Williamson, “Around the European Periphery 1870-1913: Globalization, schooling and growth,” European Review of Economic History (August 1997), pp. 153-190.

Edward Anderson, “Globalisation and wage inequalities, 1870-1970,” European Review of Economic History 5 (April 2001), pp. 91-118.

B. Free Trade or Protection?

Douglas Irwin, “Trade in the Pre-Modern Era, 1400-1700: Volume 1: Introduction.,” Douglas Irwin, ed., Elgar Reference Collection. Growth of the World Economy series, (Elgar, 1996), pp. xi-xv.

Douglas Irwin, “Mercantilism as Strategic Trade Policy: The Anglo-Dutch Rivalry for the East India Trade,” Journal of Political Economy. (December 1991), Vol. 99 (6). Pp. 1296-314.

Douglas Irwin, Against the tide: An intellectual history of free trade. (Princeton: Princeton University Press, 1996).

Donald McCloskey, “Magnanimous Albion: Free Trade and British National Income, 1841-1881,” Explorations in Economic History (July 1980), Vol. 17 (3). p 303-20.

Douglas Irwin, “Welfare Effects of British Free Trade: Debate and Evidence from the 1840s,” Journal of Political Economy. Vol. 96 (December 1988), pp. 1142-64.

John Vincent Nye, “The Myth of Free-Trade Britain and Fortress France: Tariffs and Trade in the Nineteenth Century,” Journal of Economic History (March 1991), Vol. 51 (1). p 23-46.

Douglas Irwin, “Was Britain Immiserized during the Industrial Revolution?” Explorations in Economic History (January 1991), Vol. 28 (1). p 121-24.

John Vincent Nye, “Changing French Trade Conditions, National Welfare, and the 1860 Anglo-French Treaty of Commerce,” Explorations in Economic History. (October 1991), Vol. 28 (4). p 460-77.

Douglas Irwin, “Free Trade and Protection in Nineteenth-Century Britain and France Revisited: A Comment,” Journal of Economic History. (March 1993), pp 146-52.

John Vincent Nye, “Reply to Irwin on Free Trade,” Journal of Economic History. (March 1993), Vol. 53 (1). p 153-58.

Giovanni Federico and Antonio Tena, “Was Italy Protectionist? European Review of Economic History (April 1998), pp. 73-97.

James Simpson, “Did tariffs stifle Spanish Agriculture?” European Review of Economic History (April 1997), pp. 65-88.

C. International Capital Markets

Donald McCloskey, “Did Victorian Britain Fail?,”Economic History Review Vol. 23 (3), December 1970,. pp 446-59.

Donald McCloskey, “Victorian Growth: A Rejoinder,” Economic History Review, . Vol. 27 (2). May 1974, pp. 275-77.

Michael Edelstein, Realized rates of return on UK home and overseas portfolio investment in the age of high imperialism,” Explorations in Economic History (1976), pp. 283-329.

Michael Edelstein, Overseas Investment in the Age of High Imperialism: the United Kingdom, 1850-1914 (1982).

William P. Kennedy, Industrial structure, capital markets and the origins of British economic decline (Cambridge, 1987).

J. Foreman-Peck, “Foreign invesment and imperial exploitation: balance of payments reconstruction for nineteenth century Britain and India,” Economic History Review (1989), pp. 354-74.

Lance Davis and Robert Huttenback, Mammon and the pursuit of Empire: the political economy of the British Empire, 1860-1912 (Cambridge, 1986).

Avner Offer, “The British Empire, 1870-1914: A Waste of Money?” The Economic History Review. Vol. 46 (2). May 1993, pp. 215-38.

VIII. Does Finance Matter?

A. Do Banks and Financial Markets Matter?

Alexander Gerschenkron, Economic Backwardness in Historical Perspective (Cambridge, 1966).

J. Gurley and E. Shaw, “Financial Structure and Economic Development,” Economic Development and Cultural Change (1967), 15, pp. 257-78.

R. King and R. Levine, “Finance and Growth: Schumpeter Might Be Right,” Quarterly Journal of Economics (1993) 108(3), pp. 717-37.

R. Levine and S. Zervos, “Stock Markets, Banks, and Economic Growth, American Economic Review (1998), 88, 3, pp. 537-58.

M. Pagano, “Financial Markets and Growth: An Overview,” European Economic Review (1993) 37, pp. 613-22.

P. Hoffman, G. Postel-Vinay, J-L. Rosenthal, “Private Credit Markets in Paris, 1690-1840,” Journal of Economic History. Vol. 52 (2). June 1992 p 293-306.

P. Hoffman, G. Postel-Vinay, J-L. Rosenthal, “What Do Notaries Do? Overcoming Asymmetric Information in Financial Markets: The Case of Paris, 1751,” Journal of Institutional & Theoretical Economics. Vol. 154 (3). September 1998 p 499-530.

Michael Collins, “English bank development within a European Context, 1870-1939,” Economic History Review (February 1998), pp. 1-24.

Forrest Capie and Michael Collins, Have the Banks Failed British Industry? (1992).

B. Elbaum and W. Lazonick, The decline of the British economy (Oxford, 1986).

William P. Kennedy, Industrial structure, capital markets and the origins of British economic decline (Cambridge, 1987).

H. Neuberger and H. Stokes, “German Banks and German Growth 1883-1913,” Journal of Economic History (1974), pp. 710-731.

Charles Calomiris, “ The Costs of Rejecting Universal Banking: American Finance in the German Mirror, 1870-1914,” in N. Lamoreaux and D. Raff, eds., Coordination and Information (Chicago, 1995).

Caroline Fohlin, “Universal Banking in Pre-World War I Germany: Model or Myth?” Explorations in Economic History. (October 1999), Vol. 36 (4). Pp. 305-43.

J. Cohen, “Financing Industrialization in Italy, 1894-1914,” Journal of Economic History (1967) pp. 363-82.

P. Ciocca and G. Toniolo, “Industry and Finance in Italy, 1918-1940,” Journal of European Economic History (1984), pp. 113-36.

Caroline Fohlin, “Capital Mobilisation and Utilisation in Latecomer Economies: Germany and Italy Compared, “ European Review of Economic History. Vol. 3 (2). August 1999, pp 139-74.

Lance Davis and Larry Neal, “Micro Rules and Macro Outcomes: The Impact of Micro Structure on the Efficiency of Security Exchanges, London, New York, and

Paris, 1800-1914,” American Economic Review. Vol. 88 (2). May 1998, p 40-45.

Charles Goodhart, “Why do Banks Need a Central Bank?” Oxford Economic Papers (March 1989), pp. 75-89.

B. Financial Revolutions?

Larry Neal, The Rise of Financial Capital: International Capital Markets in the Age of Reason (New York: Cambridge University Press, 1990).

Oscar Gelderblom and Joost Jonker, “Completing a Financial Revolution: The Finance of the Dutch East India Trade and the Rise of the Amsterdam Capital Market, 1595-1612,” Journal of Economic History 64 (September 2004), pp. 641-672.

Alessandro Polsi, “Financial institutions in nineteenth-century Italy. The rise of a banking system,” Financial History Review 3 (October 1996), pp. 117-138.

Gianni Toniolo, Leandro Conti and Giovanni Vecchi, “Monetary Union, institutions and financial market integration: Italy, 1862-1905,” Explorations in Economic History 40 (October 2003), pp. 443-461.

Michelangelo Vasta and Alberto Baccini, “Banks and industry in Italy, 1911-1936” Financial History Review 4 (October 1997), pp. 139-160.

Caroline Fohlin, “Universal Banking in Pre-World War I Germany: Model or Myth?” Explorations in Economic History Vol. 36, (October 1999), pp. 305-343.

Caroline Fohlin, “Regulation, taxation, and the development of the German universal banking system, 1884-1913,” European Review of Economic History 6 (August 2002), pp. 221-256.

William Lazonick and Mary O’Sullivan, “Finance and industrial development Part 1: the United States and the United Kingdom,” in Vol 4 (April 1997) and “Financial and industrial development: evolution to market control Part II Japan and Germany,” Vol 4 (October 1997) Financial History Review.

Larry Neal and Stephen Quinn, “Networks of information, markets and institutions in the rise of London as a financial centre, 1660-1720,” Financial History Review 8 (April 2001), pp. 7-26.

Forrest Capie and Mark Billins, “Evidence on competition in English commercial banking, 1920-1970,” Financial History Review 11 (April 2004), pp. 69-104.

Sevket Pamuk, “The evolution of financial institutions in the Ottoman Empire, 1600-1914,” Financial History Review 11 (April 2004), pp. 7-32.

C. Bubbles? Manias?

Eugene N. White, ed., “Introduction,” Stock Market Crashes and Speculative Manias (1996), ix-xviii.

Charles Mackay Extraordinary Popular Delusions and the Madness of Crowds (1932), pp.

Charles Kindleberger, Manias,Panics, and Crashes: A History of Financial Crises (1989).

Mike Dash, TulipoMania (New York, 1999).

Peter M. Garber, “Tulip Mania,” Journal of Political Economy 97 (1989), pp. 535-60.

Larry D. Neal “How the South Sea Bubble was Blown Up and Burst: A New Look at Old Data,” In Eugene N. White, (ed.) Crashes and Panics: The Lessons from History (1990), pp. 33-56.

Peter M. Garber, “Famous First Bubbles,” Journal of Economic Perspectives (Spring 1990), pp. 35-53.

Peter M. Garber, Famous First Bubbles: The Fundamentals of Early Manias (MIT Press, 2000).

Eugene N. White, “The Stock Market Boom and Crash of 1929 Revisited,” Journal of Economic Perspectives (Spring 1990), pp. 76-83.

Peter Rappoport and Eugene N. White, “Was the Crash of 1929 Expected?” American Economic Review (March 1994), pp. 271-81.

R. Glen Donaldson and Mark Kamstra, “A New Dividend Forecasting Procedure That Rejects Bubbles in Asset Prices: The Case of 1929’s Stock Crash,” Review of Financial Studies (1996), pp. 333-383.

Robert J. Shiller, Irrational Exhuberance (2000), Chapter 1, pp. 3-14.

IX. War and Economic Growth

A. Does War Crowd Out Growth?

Jeffrey Williamson, “Why was British Growth So Slow During the Industrial Revolution,” Journal of Economic History (September 1984), pp. 687-712.

Carol Heim and Philip Mirowski, “Interest Rates and Crowing-Out during Britain’s Industrial Revolution,” Journal of Economic History (March 1987), pp. 117-140.

Robert Black and Claire Gilmore, “Crowding Out during Britain’s Industrial Revolution,” Journal of Economic History (March 1990), pp. 109-131.

Carol Heim and Philip Mirowski, “Crowding Out: Response to Black and Gilmore,” Journal of Economic History (September 1991), pp. 701-706.

Gregory Clark, “Debt, deficits and crowding out: England, 1727-1840,” European Review of Economic History 5 (December 2001), pp. 403-436.

B. How to Finance a War

N. Gregory Mankiw, “The Optimal Collection of Seigniorage: Theory and Evidence,” Journal of Monetary Economics (1987), pp. 327-341.

Debra Glassman and Angela Redish, “Currency Depreciation in Early Modern England and France,” Explorations in Economic History (January 1988), pp. 75-97.

Nathan Sussman, “Debasements, Royal Revenues, and Inflation in France During the Hundred Years War 1415-1422,” Journal of Economic History (March 1993), pp. 44-70.

John Brewer, The Sinews of Power: War, Money and the English State, 1688-1783 (Harvard University Press, 1990).

Patrick O’Brien, “The Political Economy of British Taxation, 1660-1815,” Economic History Review XLI, I, pp. 1-32.

Eugene N. White, “France and the Failure to Modernize Macroeconomic Institutions,” in Michael Bordo and Roberto Cortes Conde, eds., The Legacy of Western European Fiscal and Monetary Institutions for the New World (Cambridge: Cambridge University Press, 2001).

Francois Velde and David Weir, “The Financial Market and Government Debt Policy in France, 1746-1793,” Journal of Economic History. Vol. 52 (1). March 1992p 1-39.

David Weir, “Tontines, Public Finance, and Revolution in France and England, 1688-1789,” Journal of Economic History. Vol. 49 (1). March 1989, pp 95-124.

Robert Barro, “Government Spending, Interest Rates, Prices and Budget Deficits in the United Kingdom,” Journal of Monetary Economics (September 1987), pp. 221-248.

Phillip Hoffman and Jean-Laurent Rosenthal, “The Political Economy of Warfare and Taxation in Early Modern Europe: Historical Lessons for Economic Development, “ in The frontiers of the new institutional economics. John Drobak, John Nye, , eds., San Diego; London and Toronto: Harcourt Brace,, 1997 p 31-55.

Barry R. Weingast, “The Political Foundations of Limited Government: Parliament and Sovereign Debt in 17th- and 18th-Century England,” in The frontiers of the new institutional economics. John Drobak, John Nye, , eds., San Diego; London and Toronto: Harcourt Brace,, 1997 pp. 213-46.

John Wells and Douglas Wills, “Revolution, Restoration, and Debt Repudiation: The Jacobite Threat to England’s Institutions and Economic Growth,” Journal of Economic History (June 2000), pp. 418-441.

Michael Bordo and Eugene White, “A Tale of Two Currencies: British and French Finance During the Napoleonic Wars,” Journal of Economic History (June 1991), pp. 303-316.

Eugene N. White, “The French Revolution and the Politics of Government Finance, 1770-1815,” Journal of Economic History (June 1995), pp. 227-255.

Niall Ferguson, The Pity of War: Explaining World War I (Basic Books, 1998), Chapters, 9 and 11.

T. Balderston, “War finance and inflation in Britain and Germany, 1914-1918,” Economic History Review (1989), pp. 222-244.

Peter Gatrell and Mark Harrison, “The Russian and Soviet economies in two world wars: a comparative view,” Economic History Review (August 1993), pp. 425-452.

Mark Harrison ed., The economics of World War II: Six great powers in

international comparison. (Cambridge: Cambridge University Press, 1998), pp. 268-301. .

C. Reparations: Make the Loser Pay

John Maynard Keynes, “The Capacity of Germany to Pay Reparations” in J.M. Keynes, Essays in Persuasion (New York, 1963).

Etienne Mantoux, The Carthaginian Peace or the Economic Consequences of Mr. Keynes (London, 1946).

Eugene N. White, “Making the French Pay: The Costs and Consequences of the Napoleonic Reparations,” NBER Working Paper No.W7438 (December 1999).

Michael Gavin, “Intertemporal Dimensions of International Economic Adjustment: Evidence from the Franco-Prussian War Indemnity,” American Economic Review (May 1992), pp. 174-179.

Adam Klug, “The Theory and Prace of Reparations and American Loans to German, 1925-1929,” International Finance Section, Princeton University, Working paper (December 1990).

Niall Ferguson, The Pity of War: Explaining World War I (Basic Books, 1998), Chapter 14.

Benjamin J. Cohen, “Reparations in the Postwar Period: A Survey” Banco Nazionale del Lavoro Quarterly Review, 82 (September 1967).

X. The Second Half of the Twentieth Century

Peter Temin, “The Golden Age of European Economic growth reconsidered,” European Review of Economic History 6 (April 2002).

Barry Eichengreen, ed., Europe’s Postwar Recovery (Cambridge, 1995), Chapters, 1, 2, and 3.

Barry Eichengreen, Globalizing Capital (Princeton, 1996), Chapters 4 and 5.

Barry Eichengreen and Marc Uzan, “The Marshall Plan: economic effects and implications for Eastern Europe and the former USSR,” Economic Policy (April 1992).

N.F. R. Crafts, “The Golden Age of Economic Growth in Western Europe, 1950-1973,” Economic History Review (August 1995), pp. 429-447.

Gianni Toniolo, “Europe’s golden age, 1950-1073: speculations from a long-run perspective,” Economic History Review (May 1998), pp. 252-267.

................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download