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Full-Text Articles in Political Economy

Slavery, Migration, And Local Development In The Western Us, Colin Q. Sharpe Dec 2016

Slavery, Migration, And Local Development In The Western Us, Colin Q. Sharpe

School of Arts & Sciences Theses

This paper examines the effects of migration from eastern slave states in the 19th century on the subsequent development of counties in the Western US. I find that increased migration from slave states has a large, statistically significant negative effect on 2010 income, and no significant effect on racial inequality or overall income inequality. These findings are robust to a variety of specifications, including controls for geographic factors, state fixed effects, and various county level social and economic conditions. Data on individual migrants suggest that the cause of the negative income effect is the lower average human capital endowment of ...


Crafting Chaos: The Classification Of Unilateral Transfers Under The Current Account At Bretton Woods And Its Impact On Remittances To The Indian State Of Kerala, Anish Gawande Nov 2016

Crafting Chaos: The Classification Of Unilateral Transfers Under The Current Account At Bretton Woods And Its Impact On Remittances To The Indian State Of Kerala, Anish Gawande

Undergraduate Economic Review

This essay aims to analyse the classification of unilateral transfers under the current account at Bretton Woods despite significant opposition from larger delegations of major Allied powers, bringing to the forefront the global liquidity of remittances in the post-War years permitted by their fully currency convertible nature. Using the example of the Indian State of Kerala, this paper charts the relevance of their sustained uninterrupted flow to their subsequent exponential growth in the last three decades, using the case study as a pivot to argue for better policy measures that maximise their multiplier effect.


Patterns Of Growth And The Economic Development Of China, Adam C. Watson Jun 2016

Patterns Of Growth And The Economic Development Of China, Adam C. Watson

All Dissertations, Theses, and Capstone Projects

By looking at the historical rise of modern China, starting with the end of the First Opium War (1842) through to the start of the war with Japan (1937), and then from the beginning of Deng Xiaoping’s economic reforms (1979) to the present, this work reveals the striking similarities between the earlier and the later periods of capitalist development. If the country had not been able to draw on the deep-rooted knowledge and skills which originated in Shanghai and the port cities in the mid-nineteenth century, and instead pursued only uninformed free market principles without the training to make ...


Colonial And Post-Colonial Origins Of Agrarian Development: The Case Of Two Punjabs, Shahram Azhar Jan 2016

Colonial And Post-Colonial Origins Of Agrarian Development: The Case Of Two Punjabs, Shahram Azhar

Doctoral Dissertations

This study explores the colonial and post-colonial origins of agrarian development by looking at the role of historical institutions, class formations and the state (ICS) in shaping the process. It contributes to the “divergence debates” in economics, which make an attempt to explain the ‘fundamental causes’ of divergence between countries. While one strand of the divergence literature presents the process as being functional to ‘geography’, a second strand focuses on the institutional legacies of colonialism; what is common to both sets of explanations, however, is the view that future outcomes are completely pre-determined by one or another time-invariant factor, leading ...


The Wealth Of Nations, Adam Smith, Jonathan B. Wight Jun 2007

The Wealth Of Nations, Adam Smith, Jonathan B. Wight

Bookshelf

The Wealth of Nations is a treasured classic of political economy. First published in March of 1776, Adam Smith wrote the book to influence a special audience - the British Parliament - and its arguments in the early spring of that year pressed for peace and cooperation with Britain's colonies rather than war.

Smith's message was that economic exploitation, through the monopoly trade of empire, stifled wealth-creation in both home and foreign lands. Moreover, protectionism preserved the status quo, and privileged a few elites at the expense of long run growth.

Smith wrote, "It is the industry which is carried ...


National Bank Notes And Silver Certificates, James B. Thomson, Bruce A. Champ Dec 2005

National Bank Notes And Silver Certificates, James B. Thomson, Bruce A. Champ

James Thomson

From 1883 to 1892, the circulation of national bank notes in the United States fell nearly 50 percent. Previous studies have attributed this to supply-side factors that led to a decline in the profitability of note issue during this period. This paper provides an alternative explanation. The decline in note issue was, in large part, demand-driven. The presence of a competing currency with superior eatures caused the public to substitute away from national bank notes.