International shipping and national economic growth: shipping earnings and the Greek economy in the nineteenth century 1

In Greece, a small peripheral European economy, the service sector and shipping in particular played a highly important role in nineteenth‐century economic development. Despite its importance, however, the difficulty of calculating the ‘invisible earnings’ from the shipping industry's engagement in international activities has led to its underestimation in most analyses of the country's economic growth. This article presents the first estimation of Greek shipping income in the nineteenth century. In addition, it examines the shipping industry within the context of Greek development as a whole, highlighting its significant role in the fully marketized and integrated area of the country's economy in the context of a wider world economy.     

A CLIOMETRIC REVOLUTION IN THE ECONOMIC HISTORY OF KOREA: A CRITICAL REVIEW

Cliometric approaches to the economic history of Korea have emerged as a distinctive trend from the mid‐1990s. They have quickly made profound changes to our understanding of Korea's economic history from 1700 to 1945. The most remarkable include identifying the long‐term decline of agricultural productivity from around 1800, the subsequent upswing in economic development from the late nineteenth century, and the continuing growth during the Japanese colonial era, 1910–45. We survey primarily the Korean language literature that reports the achievements of this cliometric movement and speculate about the future research agenda.     

The Norwegian market for British Shipbuilding, 1945–1967

Abstract

The British Shipbuilding industry experienced a process of both competitive and comparative decline during the period 1945 to 1967 — when the world market for ships was at its most vibrant. The present article seeks to analyse this decline through an examination of the loss of the industry's most important export market — Norway. It is argued that issues such as price, failure to meet delivery dates and to offer competitive credit terms, were all factors in British shipbuilding's loss of market share in Norway. Ultimately British shipbuilders retained a production oriented strategy in a market which was being revolutionised in both structural and technological terms. The failure to adopt a marketing oriented strategy, therefore, underpinned the failure of the British shipbuilding industry in the Norwegian market and would also account for its failure in the domestic market.     

Patterns of infant mortality in rural England and Wales, 1850–1910†

The study of nineteenth‐century infant mortality in Britain has neglected the rural dimension to a surprising degree. This article maps the change in infant mortality rate (IMR) between the 1850s and the 1900s at registration district (RD) level. Latent trajectory analysis, a longitudinal model‐based clustering method, is used to identify the clusters into which rural RDs fell, based on their IMR trajectories. Relationships between IMR and population density, fertility, female tuberculosis mortality, female illiteracy, male agricultural wages, and distance from London are examined in a longitudinal study. The tuberculosis (maternal health), illiteracy (education), and distance variables had the most effect. IMR responded most strongly to improving health and education in the east, less in the central area, and least in the north and west. The eastern zone's higher‐than‐average mid‐century infant mortality therefore declined faster than the national average. A central and southern zone had slightly lower IMR in mid‐century but did not keep up with the rate of decline in the east. The peripheral north and west had the lowest mid‐century rates but their decline was overtaken by the other zones. The interpretation of these findings and their relevance to the wider study of infant mortality are discussed.     

The Danish agricultural revolution in an energy perspective: a case of development with few domestic energy sources

This article examines the case of Denmark—a country which historically had next to no domestic energy resources—for which new historical energy accounts are presented for the years 1800–1913. It demonstrates that Denmark's take‐off at the end of the nineteenth century was relatively energy dependent. This is related to Denmark's well‐known agricultural transformation and development through the dairy industry, and thus the article complements the literature which argues that expensive energy hindered industrialization, by arguing that similar obstacles would have precluded other countries from a more agriculture‐based growth. The Danish cooperative creameries, which spread throughout the country over the last two decades of the nineteenth century, were dependent on coal. Although Denmark had next to no domestic coal deposits, this article demonstrates that Danish geography allowed cheap availability throughout the country through imports. On top of this it emphasizes that another important source of energy was imported feed for cows.     

The high wage economy and the industrial revolution: a restatement

This article responds to Humphries's critique of Allen's assessment of the high wage economy of eighteenth‐century Britain and its importance for explaining the industrial revolution. New evidence is presented to show that women and children participated in the high wage economy. It is also shown that the high wage economy provides a good explanation of why the industrial revolution happened in the eighteenth century by showing that increases of women's wages around 1700 greatly increased the profitability of using spinning machinery. The relationship between the high wage economy of the eighteenth century and the inequality and poverty in Britain in the nineteenth century is explored.     

International competition in the first wave of globalization: new evidence on the margins of trade

We pose a seemingly ageless question in economic history. To what extent did new entrants in the late nineteenth‐century cotton‐textile industry threaten the customary markets of the European core? Exploiting a newly constructed dataset on textile imports to Spain, we find that as trade costs fell, new rivals began to sell a greater variety of products. Along this dimension, competition can be said to have increased. In response, producers in Europe adjusted the type and number of goods exported. By 1914, specialization mapped onto endowments of skilled labour, capital, and access to raw materials. While firms in new industrializing countries exported low‐end varieties, incumbents in the core shipped high‐end goods, unit values increasing with levels of development.     

Economic freedom in the long run: evidence from OECD countries (1850–2007)

This article presents historical indices for the main dimensions of economic freedom and an aggregate index for the developed countries of today, specifically pre‐1994 OECD members. Economic liberty expanded over the last century‐and‐a‐half, reaching more than two‐thirds of its possible maximum. However, its evolution has been far from linear. After a substantial improvement from the mid‐nineteenth century, the First World War brought a major setback. The postwar recovery up to 1929 was followed by a dramatic decline in the 1930s. Significant progress took place during the 1950s but fell short of the pre‐First World War peak. After a period of stagnation, steady expansion since the early 1980s has resulted in the highest levels of economic liberty of the last two centuries. Each of the main dimensions of economic freedom exhibited a distinctive trend and its contribution to the aggregate index varied over time. Overall, improved property rights provided the main contribution to the long‐run advancement of economic liberty.     

Through the magnifying glass: provincial aspects of industrial growth in post‐Unification Italy1

This article presents estimates of industrial production in post‐Unification Italy's 69 provinces in the census years 1871, 1881, 1901, and 1911. Initially industry was largely artisanal, and located in the former political capitals; but even then the waterfalls of the subalpine north‐west attracted what factory industry there was. Contrary to widespread opinion, in the aftermath of Unification the industrial and overall growth leaders were actually in the south, where selected provinces reaped the gains from the freer foreign trade, and infrastructure investment, that accompanied the loss of independence. Over the later nineteenth century industry concentrated into the ‘industrial triangle’; but even there industrialization remained sharply local, and excluded the right bank of the upper Po. The early twentieth century, in turn, brought a measure of industrial diffusion—to the centre/north‐east, where it was tied to the production of perishables on recently improved land—and concentration within the north‐western triangle itself, into its major cities, as progress in energy transmission effectively moved the waterfalls into the plains.     

Technology transfer via foreign patents in Germany, 1843–77

This article analyses the spread of innovation in mid‐nineteenth‐century Germany using foreign patents as an indicator for technology transfer. It introduces a new dataset of over 1,400 patents granted in the Grand Duchy of Baden between 1843 and 1877. The data show that Baden's technology import via foreign patents from German and non‐German inventors was important. This technology transfer was broadly based, although technologies related to the textile and machine‐building industries are prominent in the data. The decision to file a patent in Baden was driven by competition and the risk of imitation. Using a gravity model with city‐level data, we find evidence that technology transfer through patents reflected existing trade links. The strong correlation between technologies filed by foreigners and domestic inventors provides further evidence that the risk of imitation fostered patent‐based technology transfer during the mid‐nineteenth century. Furthermore, we show that foreigners filed patents predominantly in industries that accounted for a high share of the workforce in Baden.     

Silver production and the money supply in England and Wales, 1086–c.1500

The contribution of English and Welsh lead mines to the silver supplies of mints between Domesday Book and the end of the fifteenth century is assessed in this article, comparing evidence for the size of silver production with mint output data. It is shown that the proposal that northern Pennine mines were the principal source of the silver in the late twelfth‐century English currency is untenable. Welsh mines supplied limited amounts of silver to local mints around 1200. Devon silver made a significant but not predominant contribution to mint output at times of bullion scarcity in the 1290s and the mid‐fifteenth century. Imported silver was usually a greater source of the metal in the English currency than locally mined silver, and gold coins constituted most of England's money supply from the mid‐fourteenth century onwards.     

Explaining the ‘take‐off’ of the Catalan cotton industry1

Cotton was central to Catalan industrialization and, within cotton, progress in spinning and weaving, originating in the late eighteenth century, provided the cutting edge in the industry's modernization. This article tests the current orthodoxy concerning the timing and causes of this breakthrough. It does so by first evaluating what were external influences on the success‐government policy, the elasticity of supply of spun yarn (a potential disincentive) and of raw cotton‐and then providing an analytical narrative of the advance first in hand and then mechanical spinning. On this basis a conclusion is reached that government policy was more advantageous to the development than posited in the current orthodoxy, that elasticity in the supply of spun yarn slowed the transition and that, though growing availability of American cotton eased the transition, the key to the development is to be found within the Catalan economy, experiencing a 'Smithian'‐type growth process in the eighteenth century, within which industrialization of cotton was nearly the last achievement before Spain's severe 'old régime crisis' curtailed economic opportunity.     

Urban inoculation and the decline of smallpox mortality in eighteenth‐century cities—a reply to Razzell

Smallpox was probably the single most lethal disease in eighteenth‐century Britain but was reduced to a minor cause of death by the mid‐nineteenth century due to vaccination programmes post‐1798. While the success of vaccination is unquestionable, it remains disputed to what extent the prophylactic precursor of vaccination, inoculation, reduced smallpox mortality in the eighteenth century. Smallpox was most lethal in urban populations, but most researchers have judged inoculation to have been unpopular in large towns. Recently, however, Razzell argued that inoculation significantly reduced smallpox mortality of adults and older children in London in the last third of the eighteenth century. This article uses demographic evidence from London and Manchester to confirm previous findings of a sudden fall in adult smallpox mortality and a rise in the importance of smallpox in early childhood c. 1770. The nature of these changes is consistent with an increase in smallpox transmission in London and Manchester after 1770 and indicates that smallpox inoculation was insufficient to reduce smallpox mortality in large towns. It remains unclear whether inoculation could have operated to enhance smallpox transmission or whether changes in the properties of the smallpox virus drove the intensification of smallpox mortality among young children post‐1770.     

Losing autonomy: the Norwegian central bank during the Second World War

In the mid‐twentieth century a number of central banks around the western world lost their operational autonomy and were placed under government control. The origin of these policy changes can be traced to the intellectual and political developments of the interwar era in addition to the introduction of the Bretton Woods monetary system. The Norwegian central bank offers a particularly stark example of this phenomenon: experiencing a rapid decline from its high level of autonomy in the interwar years, to a clear subordination to the government after 1945. Through an analysis of the correspondence between the main policy makers in the exiled Norwegian government and central bank management, this article contributes to the understanding of central bank autonomy by tracing the decisive factors that led to the Norwegian central bank's loss of agency.     

Bagehot for beginners: the making of lender‐of‐last‐resort operations in the mid‐nineteenth century1

In this article we develop new tools to survey the development of lending‐of‐last‐resort operations in the mid‐nineteenth century. One finding is that free lending and extensive liquidity support against good collateral developed gradually after 1847, and was already a fact of life before Bagehot published Lombard Street. Another is that the extension of the Bank of England's lender‐of‐last‐resort function went along with a reduction of its exposure to default risks, in contrast with accounts that have associated lending of last resort with moral hazard. Finally, we provide a new interpretation of the ‘high rates’ advocated by Bagehot. We suggest they were meant to prevent banks from free‐riding on the safety offered by the central bank, and were aimed at forcing them to keep lending during crises so as to maintain a critical degree of liquidity in the money market.     

Domestic service,gender, and wages in rural England,c.1700–18601

Domestic service was a vital occupational sector in England in the eighteenth and nineteenth centuries—particularly for women. This article uses a new series of wage observations from across England, focusing on rural areas. Analysis of the dataset shows that wages paid to servants in rural England slightly increased over the period considered, but at uneven rates dependent on region and precise occupation of servant. The majority of servants, particularly maids, did not experience any significant increase in the wages they were paid. This article also shows a widening wage gap between male and female servants. When differences between regions were analysed, it was shown that the wages paid to servants did not match the model of the north becoming the high wage zone of England by the mid‐nineteenth century, although rates of growth there were the highest. For servants the south generally remained an area of higher wages even in the mid‐nineteenth century. Geography was probably not the key variable in determining wage levels. The type of household in which a servant was employed was more important than where it was located. The most important variables were the servants' gender, and their occupations in the household.     

The strange birth of liberal Denmark: Danish trade protection and the growth of the dairy industry since the mid‐nineteenth century1

The usual story of the ‘first era of globalization’ at the end of the nineteenth century sees Denmark as something of an outlier: a country which, like the UK, resisted the globalization backlash in the wake of the inflow of cheap grain from the New World, but where agriculture, rather than going into decline, in fact flourished. Key to the success of Danish agriculture was an early diversification towards dairy production. This article challenges this simple story which sees Denmark as something of a liberal paragon. Denmark's success owed much to a prudent use of trade policy which favoured dairy production. Moreover, this favouritism continued even after a more general movement to free trade in the 1860s. Using micro‐level data from individual dairies, we quantify the implied subsidy to dairy production from the tariffs, and demonstrate that in many cases this ensured the profitability of individual dairies.     

Wool and cloth production in late medieval and early Tudor England

Estimates of wool production based on the exports of wool and cloth, and an assumption that domestic cloth consumption was, optimistically, constant, suggest that wool production fell by almost a third from the early fourteenth to the mid‐fifteenth century, and had not fully recovered even by the mid‐sixteenth century. However, after the Black Death, much of England's arable was converted to pasture, mainly for sheep, and this process accelerated after 1470. These two observations are contradictory. This article provides new numbers of adult sheep based on estimates of domestic cloth consumption, cloth exports, the changing weight of cloth, and fleece yields. The conclusion is that the adult sheep population only declined by around 13 per cent from 1310 to 1440, and had risen dramatically by the mid‐sixteenth century.     

Poverty or prosperity in northern India? New evidence on real wages, 1590s–1870s†

This article introduces a new dataset on wages in northern India (from Gujarat in the west to Bengal in the east) from the 1590s to the 1870s. It follows Allen's subsistence basket methodology to compute internationally comparable real wages to shed light on developments in Indian living standards over time. It adjusts the comparative cost-of-living indices to take into account differences in climate and caloric intake due to variances in heights. The article also discusses the male/female wage gap in northern India. It demonstrates that the ‘great divergence’ started in the late seventeenth century, and widened further after the 1720s and especially after the 1800s. It was subsequently primarily England's spurt and India's stagnation in the first half of the nineteenth century that brought about most serious differences in the standard of living. If the British colonial state is to blame—as often suggested by the literature on India's persistent poverty—the fault lies in its failure to improve the situation after the British became near-undisputed masters of India in 1820.