Did the 48‐hour week damage Britain's industrial competitiveness?1

Britain's 1919 introduction of a 48‐hour week for industrial workers has been highlighted as a key factor depressing its relative labour productivity. This largely ignores both any potential offset to lower hours from higher hourly productivity and the fact that the 48‐hour week was also introduced in almost all other industrialized nations (generally involving substantially greater reductions in hours). We examine the international context and the short‐term impact on British productivity, focusing on three major export industries—coal, cotton, and iron and steel. Britain did not suffer any significant relative productivity loss in these industries, while reduced working hours are shown to have been partially compensated for by higher hourly productivity.     

Manufacturing quality in the pre‐industrial age: finding value in diversity

When deployed on a large and rational scale and committed to high throughput levels, early modern manufacturing methods inevitably yielded a substantial proportion of non‐standard and defective items. This proportion could only increase as the pace of work accelerated in the eighteenth century. Manufacturers regained a degree of control over their marketing strategies through the more or less rigorous sorting of this output, in a pattern suited to their markets. In so doing, they forged a transitional definition of quality that moved away from the linear pursuit of excellence that motivated their predecessors towards a relative understanding of the needs of diverse groups of buyers.     

‘Crooks,thieves, and receivers’: transaction costs in nineteenth‐century industrial Birmingham1

The existence of cooperation and trust between competing economic agents is taken for granted by much of the literature on industrial districts. This article explores the structure of the Birmingham jewellery‐making district and the problems created by the opportunistic behaviour of many of its members. Archival sources show that the district was plagued by endemic dishonesty and that proximity did not generate trust and cooperation. The absence of barriers to entry into the trade created a district where social sanctions could not be used to reduce moral hazard. All these factors threatened to destroy the district during the crisis of the 1880s. The article shows how firms joined together to create the Birmingham Jewellers Association, to establish and enforce ‘rules of the game’, with the aim of reducing transaction costs.     

Intra‐provincial Revenue Sharing and the Subnational Government's Fiscal Capacity in China: The Case of Zhejiang Province

This study investigates whether the tax‐sharing system has deteriorated the fiscal capacity of subnational governments by analyzing how fiscal revenues are divided between provincial and sub‐provincial governments. Our study of county‐level fiscal data from Zhejiang Province in China during 1994–2007 shows that intra‐provincial revenue‐sharing rules favor county governments in two ways: (i) they improve county governments ‘fiscal autonomy in terms of using their own revenues; and (ii) they enhance county governments ‘fiscal capacity through province‐to‐county general transfers. In addition, we find that intra‐provincial fiscal revenue‐sharing rules and transfers reduce fiscal disparity between counties.     

Ethnic group returns to education during the early post‐colonial period in Malaysia

The paper examines the returns to education for ethnic groups in the Malaysian labour market during the early 1960s' post‐colonial period. The analysis is based on data from the West Malaysia Family Survey of 1966–67. It is found that individual returns to education were positive during the period examined. However, the returns to education of particular ethnic groups differed. The findings suggest that ‘equal education for all’ does not guarantee that each ethnic group will receive equal wages unless there are other interventions in the labour market.     

The Determinants of Time‐Varying Exchange Rate Pass‐Through in South Africa

The pass‐through of shifts in the rand exchange rate to consumer price inflation has been well documented for South Africa. Although estimates of the absolute level of pass‐through vary, some studies document a decline in pass‐through over time. In order to better illuminate the policy implications of pass‐through, this paper seeks to add to the literature by decomposing pass‐through into a number of time‐varying impulses. This has the advantage of providing deeper insights of pass‐through over time and across various monetary policy regimes. We then analyse the determinants of time‐varying pass‐through. Our results confirm that pass‐through has declined over time but is subject to a stable and low inflation environment. We also show that a volatile exchange rate leads to higher pass‐through.     

Explaining the short stature of the poor: chronic childhood disease and growth in nineteenth‐century England1

This article examines the relationship between human growth, final height, and the environment in early nineteenth‐century England. While the reasons for stuntedness are multifactoral and involve lack of nourishment and in utero conditions, we should also give emphasis to respiratory, gastro‐enteric, and bone disease along with the inadequate and sometimes harmful arrangements for convalescence, involving opiates and inadequate rest. Hard work and prevailing social attitudes slowed recovery and affected limb and organ development. While survival chances may have improved, and indeed were enhanced by measures such as targeted poor relief, quality of life for infants and children remained low and had an influence on their height as adults. The bodies of surviving working‐class children showed the burden of hard times.     

Regional value added in Italy, 1891–2001, and the foundation of a long‐term picture1

This article presents value added estimates for the Italian regions, in benchmark years 1891–1951, which are linked to those from official figures available from 1971 on, in order to offer a long‐term picture of Italy's regional development. Regional activity rates and productivity are also discussed and compared. Some basic questions about Italy's economic history are briefly considered, including the origins and extent of the north–south divide, the role of migration and regional policy in shaping the pattern of regional inequality, and the positioning of Italy in the international debate on regional convergence, where it stands out because of the long‐run persistence of its disparities.     

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.     

Nature as historical protagonist: environment and society in pre‐industrial England

This article compares chronologies reconstructed from historical records of prices, wages, grain harvests, and population with corresponding chronologies of growing conditions and climatic variations derived from dendrochronology and Greenland ice‐cores. It demonstrates that in pre‐industrial, and especially late medieval, England, short‐term environmental shocks and more enduring shifts in environmental conditions (sometimes acting in concert with biological agencies) exercised a powerful influence upon the balance struck between population and available resources via their effects upon the reproduction, health and life expectancy of humans, crops, and livestock. Prevailing socio‐economic conditions and institutions, in turn, shaped society's susceptibility to these environmental shocks and shifts.     

The role of the Spanish imperial state in the mining‐led growth of Bourbon Mexico's economy1

Colonial Mexico's economy experienced a long phase of growth during the eighteenth century. Around 1800, silver exports and fiscal surplus remittances from the colony rose to unprecedented levels. We study the contribution of the Spanish imperial state's policy to the expansion of silver production and the leading role of mining in economic growth and its fiscal implications. We find evidence to support a more favourable view of both the mining sector and the imperial state than that commonly presented in the literature. The interruption of colonial ‘mining‐led growth’ helps to explain the ‘lost decades’ for the economic development of Mexico after independence.     

深圳市2010年产业结构预测

国内生产总值是国民经济的核心指标，其统计指标有多种形式，为使历史数据能进行对比分析，应采用剔除价格影响的因内生产总值指标来推断未来，因此,我们选用定基国内生产总值指数（以1979年为100）指标来进行分析。     

Enhancing Industrial Cluster Formation Through the Realistic Export Opportunities of the TRADE‐DSM

This paper explores the natural synergies between industrial cluster formation and the identification of realistic export opportunities (REOs), using the TRADE‐DSM 1 for a resource‐dependent region, the North West Province of South Africa. The structural path analysis and power of pull methods were applied to a provincial social accounting matrix to identify the top industrial clusters. Ten industrial clusters were identified and matched to the results of the TRADE‐DSM. Six of the industrial clusters analysed had REOs. These results provide a basis for focused export market development and for the formalisation of the cluster initiative as a strategy for sustained economic and export growth.     

Where there’s muck,there’s brass:1 the market for manure in the industrial revolution2

This article presents the first systematic analysis of off‐farm sources of nitrogen, such as urban and industrial waste, used in English agriculture during the industrial revolution, arguing that their use was widespread and intensive by 1700 and that there was only modest growth in their use up to 1840. It explains the pattern of use by supply and demand factors, and develops a new method to estimate the overall impact on wheat yields. It estimates that throughout the period 1700–1840 yields were 20 per cent higher than they would have been if no off‐farm manures had been used.