Trade, Distribution, and Economic Growth in Colonial America

1972 ◽  
Vol 32 (1) ◽  
pp. 128-145 ◽  
Author(s):  
James F. Shepherd ◽  
Gary M. Walton
Keyword(s):  
Eighteenth Century ◽  
American Revolution ◽  
Colonial America ◽  
Colonial Period ◽  
Balance Of Payments ◽  
Long Run ◽  
Data Limitations ◽  
Trade Distribution ◽  
Long Term Trends

The purpose of this paper is to present some of the findings and contentions of our forthcoming study of shipping, distribution, and overseas trade in colonial America from the middle of the seventeenth century to the American Revolution, with emphasis upon the later years. In order to provide an explanation of the contribution of overseas trade to colonial growth, we begin the study by proposing a simple theoretical framework for viewing economic development in the colonies. Then, to provide some perspective for the study, we examine the long-term trends in output, population, and overseas trade (subject to fairly severe data limitations, which allow us to make only tentative statements about these long-term trends, and which largely limit us to the eighteenth century). Next we examine the costs of shipping and distributing commodities in overseas trade and show that these costs declined over the long run. The increased productivity in shipping is explicitly measured, and the sources of these advances analyzed. Finally, a balance-of-payments study is presented for 1768 through 1772, the only years in the colonial period for which we have statistics of all legal overseas trade.

The Output of the British Woolen Industry in the Eighteenth Century

1957 ◽  
Vol 17 (2) ◽  
pp. 207-223 ◽  
Author(s):  
Phyllis Deane
Keyword(s):  
Economic Growth ◽  
Eighteenth Century ◽  
United Kingdom ◽  
Manufacturing Industry ◽  
Industrial History ◽  
Long Term Trends

As part of a general inquiry into the economic growth of die United Kingdom, an attempt is being made to estimate long-term trends in output of individual industries over as long a period of time as the data allow. Throughout the eighteenth century wool was the major English manufacturing industry. It is the purpose of this article to consider the evidence of contemporary estimates of the value of the woolen manufacture, with a view to using them as a basis for an assessment of the broad trends in its output over this crucial period of Britain's industrial history.

The Effect of Deregulation on Employee Earnings: Pilots, Flight Attendants, and Mechanics, 1959–1992

ILR Review ◽  
1996 ◽  
Vol 49 (2) ◽  
pp. 223-242 ◽  
Author(s):  
Pierre-Yves Crémieux
Keyword(s):  
Flight Attendants ◽  
Firm Level ◽  
Cross Sectional ◽  
Long Run ◽  
Airline Deregulation ◽  
Level Data ◽  
Negative Effect ◽  
Long Term Trends ◽  
Sectional Analysis

Previous studies of the effect of the 1978 Airline Deregulation Act on employee earnings have reported mixed results: some have found no negative long-run effect of deregulation and others have found a negative effect of up to 10%. Most of these studies relied on cross-sectional analysis of a few years' data. This paper, in contrast, examines the long-term trends in airline earnings, based on 34 years of newly collected firm-level data from the Department of Transportation's Form 41 and airline workers' unions. The author finds that although deregulation had no statistically significant effect on the earnings of mechanics, it strongly affected the earnings of flight attendants and pilots. Flight attendants' earnings were at least 12% lower by 1985 and 39% lower by 1992 than they would have been if deregulation had not occurred, and the corresponding shortfalls for pilots were 12% and 22%.

scholarly journals The New Wave of Currency Devaluations in Africa – Will the Devalued Birr Help the Coffee Exports?

2019 ◽  
Vol 12 (4.) ◽  
pp. 101-118
Author(s):  
Szabolcs Pasztor
Keyword(s):  
Developing Countries ◽  
Current Account Deficit ◽  
Balance Of Payments ◽  
New Wave ◽  
Long Run ◽  
Negative Effect ◽  
Short And Long Term ◽  
Coffee Sector ◽  
The Impact

Despite the fact that currency devaluations are likely to have a negative effect on the economy in the long run, Ethiopia devalued its national currency, the birr (ETB), by 15 percent in 2017. They turned to this option in the hope of attracting more investments from abroad, decreasing import bills, improving the current account deficit and giving a boost to the exports of the coffee sector. A couple of months later, the impact seems to be promising because the export has been revived in some areas. However, it has to be stressed that the imported commodities may experience a price increase, there can be a widening balance of payments deficit and rising inflation. The paper aims to shed more light on the short- and long-term impacts of currency devaluations in the developing countries with a special emphasis on Ethiopia. Also, the recent Ethiopian measure is to be analyzed in greater detail highlighting the impacts on export earnings, import bills, the balance of payments, and on the overall competitiveness of the coffee sector.

Office-Selling, Corruption, and Long-Term Development in Peru

2018 ◽  
Vol 112 (4) ◽  
pp. 971-995 ◽  
Author(s):  
JENNY GUARDADO
Keyword(s):  
Eighteenth Century ◽  
Household Consumption ◽  
Political Conflict ◽  
Institutional Trust ◽  
Public Good Provision ◽  
Ethnic Segregation ◽  
Long Run ◽  
Good Provision ◽  
The Impact

The paper uses a unique hand-collected dataset of the prices at which the Spanish Crown sold colonial provincial governorships in seventeenth and eighteenth century Peru to examine the impact of colonial officials on long-run development. Combining provincial characteristics with exogenous variation in appointment criteria due to the timing of European wars, I first show that provinces with greater extraction potential tended to fetch higher prices and attract worse buyers. In the long run, these high-priced provinces have lower household consumption, schooling, and public good provision. The type of governors ruling these provinces likely exacerbated political conflict, ethnic segregation, and undermined institutional trust among the population.

scholarly journals The Role of Endowments in Financial Markets: Key Trends in 1990-2020 in the USA (on the example of the US education sector)

2021 ◽  
Vol 15 (2) ◽  
pp. 62-74
Author(s):  
K. B. Bakhtaraeva
Keyword(s):  
State Universities ◽  
Long Run ◽  
The Us ◽  
The Usa ◽  
Long Term Trends ◽  
Investment Portfolios ◽  
Intensive Growth ◽  
Investment Behaviour

This article describes the key trends in the development of endowments as institutional investors using the example of US educational endowments in 1990-2020. The paper also gives an overview of the world structure of endowments assets by regions and sectors. Although much research has been done on investment behaviour and return of endowments, there are not so many works analysing the long-term trends in the development of endowments. The study uses methods of systemic and comparative analysis and statistical methods. The article demonstrates an intensive growth of endowment assets during 1990-2000 and the following maturing market. Special attention is given to identifying and analysing changes in the structure and concentration levels of the endowment's market. The author suggests that the earlier model of many different-sized funds has changed to the model where significant funds dominate and concentrate most assets. The paper also explains the changes in the investment behaviour of endowments, including how the size of endowment influences the asset structure of funds' investment portfolios and return. The paper shows the growing role of state universities endowments, an increase in the regulatory burden. Also, it presents some forecast of key trends in the development of endowments in the long run.

The Behaviour of UK Imports of Manufactured Goods∗

1985 ◽  
Vol 113 ◽  
pp. 31-38 ◽  
Keyword(s):  
Manufacturing Sector ◽  
Final Demand ◽  
Balance Of Payments ◽  
Upward Trend ◽  
Term Trend ◽  
Long Run ◽  
Manufactured Goods ◽  
The Uk ◽  
Long Term Trend

In this note we discuss the behaviour and determinants of UK imports of manufactured goods, focusing particularly on the period since the end of 1979. The behaviour of imports has important short and long-run implications for the rest of the economy. Attention is frequently focused on imports of manufactured goods and the UK's worsening net trade position in such goods, which has moved from a surplus of about 22 billion in 1982 to a deficit of around £4 billion (or a balance of payments basis) in 1984. One of the outstanding features of import behaviour is the persistent upward trend in the ratio of manufactured imports to ‘final demand’ (chart 1). We hope to throw some light on whether this long-term trend is due merely to increased international specialisation in production and lower tariff barriers or is indicative of an endemic weakness of the UK manufacturing sector in terms of non-price competitiveness.

Europe’s Real Economic Challenges

2017 ◽  
Author(s):  
Martin Sandbu
Keyword(s):  
Capital Flows ◽  
Demand Management ◽  
Aggregate Demand ◽  
Balance Of Payments ◽  
Living Standards ◽  
Real Economy ◽  
Single Currency ◽  
Long Run ◽  
National Borders

This chapter defines the three main economic challenges of the members of the single currency. The first is to deal better with balance-of-payments crises — both finish the job of fixing the financial fragmentation from 2010–11 and safeguard against future ones. This is a financial and monetary task, one of ensuring that capital flows across national borders in an orderly and efficient way. The second challenge is a ‘real economy’ task of ensuring that each economy's resources are fully employed: the classic macroeconomic problem of aggregate demand management. Both of these tasks are largely about undoing self-inflicted errors. Finally, the long-run challenge is to make labour and capital as productive as they can be, which is what sustains long-term improvement in living standards.

scholarly journals Inequality of Wealth in the Ottoman Empire: War, Weather, and Long-Term Trends in Eighteenth-Century Kastamonu

2012 ◽  
Vol 72 (2) ◽  
pp. 308-331 ◽  
Author(s):  
METIN M. COŞGEL ◽  
BOĞAÇ A. ERGENE
Keyword(s):  
Eighteenth Century ◽  
Ottoman Empire ◽  
Personal Characteristics ◽  
Wealth Inequality ◽  
Population Characteristics ◽  
Macroeconomic Variables ◽  
Weather Events ◽  
Long Term Trends ◽  
And Shifts

This article offers a quantitative analysis of wealth inequality in the Ottoman Empire, employing data from probate inventories (terekes) of eighteenth-century Kastamonu, a town located in northern Anatolia. Extracting information on wealth levels and personal characteristics of individuals, we estimate aggregate measures of wealth inequality, namely the Gini coefficient, the coefficient of variation, and the wealth shares of the wealthiest 10 and 25 percent of estates. We use regression analysis to identify the time trend of wealth inequality and determine how warfare, significant weather events, macroeconomic variables, and shifts in population characteristics affected it.

Death's Heads, Cherubs, and Willow Trees: Experimental Archaeology in Colonial Cemeteries

1966 ◽  
Vol 31 (4) ◽  
pp. 502-510 ◽  
Author(s):  
Edwin Dethlefsen ◽  
James Deetz
Keyword(s):  
Eighteenth Century ◽  
Colonial America ◽  
Central Area ◽  
Experimental Archaeology ◽  
Test Methods ◽  
Colonial Period ◽  
Religious Change ◽  
Kinship Analysis ◽  
Design Evolution ◽  
Attitudes Toward Death

AbstractSeventeenth and eighteenth-century gravestones in Massachusetts are decorated with a traditional set of designs which have distinctive spatial and temporal limits. By treating them as archaeological phenomena, one can demonstrate and test methods of inferring diffusion, design evolution, and relationships between a folk-art tradition and the culture which produced it. Early popularity of death's-head designs reflects Puritan attitudes toward death, while the later cherub, willow tree, and urn motifs indicate the breakdown of these values. Although cherubs appear earliest among an innovating urban class in Cambridge, they remain a relatively minor type in this central area but are rapidly adopted in outlying districts further removed from the center of influence. Imperfect reproduction of certain designs gives rise to distinctive local styles of other areas. The distribution of these local styles in time and space provides further insights regarding religious change in the Colonial period, including a clear indication of how this change proceeded in different geographical areas at different times. Future analysis of this material promises to be quite productive in the areas of experimental archaeology, kinship analysis, demographic studies, style change, and religious change in Colonial America.

The Standard of Living in Colonial Massachusetts

1983 ◽  
Vol 43 (1) ◽  
pp. 101-108 ◽  
Author(s):  
Gloria L. Main
Keyword(s):  
At Risk ◽  
Eighteenth Century ◽  
New England ◽  
American Revolution ◽  
Consumer Goods ◽  
Colonial Period ◽  
Standard Of Living ◽  
Population At Risk ◽  
Average Value

Based on findings in Massachusetts probate records, 1650–1753, this paper argues that the average value of consumer goods among farmers and other rural inhabitants in that colony did not decline over the course of the colonial period but fluctuated around an average value little different from that for an equivalent segment of the population at risk in Maryland at the turn of the eighteenth century. Similar findings by Jackson Turner Main for.colonial Connecticut extend this absence of trend to a wider area of New England and to the years immediately preceding the American Revolution.

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