Over the past decades, economists working on growth have ‘rediscovered’ the importance of history, leading to the emergence of a vibrant, far-reaching inter-disciplinary stream of work. This column introduces the second eBook in a new three-part series which examines key themes in this emergent literature and discusses the impact they have on our understanding of the long-run influence of historical events on current economics. This volume focuses on attempts by economists to shed light on the effects of European colonisers on development and culture across Africa and Asia.
Stelios Michalopoulos, Elias Papaioannou, 14 February 2017
Giovanni Federico, Antonio Tena-Junguito, 07 February 2016
Parallels are often drawn between the Great Recession of the past decade and the economic turmoil of the interwar period. In terms of global trade, these comparisons are based on obsolete and incomplete data. This column re-estimates world trade since the beginning of the 19th century using a new database. The effect of the Great Recession on trade growth is sizeable but fairly small compared with the joint effect of the two world wars and the Great Depression. However, the effects will become more and more comparable if the current trade stagnation continues.
Matthew Bloomfield, Ulf Brüggemann, Hans Christensen, Christian Leuz, 17 December 2015
Labour mobility is an important prerequisite for the efficiency of labour markets. In the EU, however, different standards across countries present an implicit economic barrier for high-skilled professionals. This column examines how the recent EU harmonisation of professional standards in accounting affected cross-border migration relative to other professionals. The harmonisation had a strong positive effect on accountants’ cross-border migration. Harmonisation could thus be a potentially powerful tool for policymakers seeking to improve labour market efficiency.
Nikolaus Wolf, Max-Stephan Schulze, 07 July 2007
Recent estimates of Habsburg Empire trade suggest that borders matter as long as ethno-linguistic networks matter. The EU needs to find a new deal on language policy, if it is to achieve a truly common market.