UC Davis
Winter 2008
Economics 270C

The Economics of Growth: Globalization, Institutions, and History
Alan M. Taylor

amtaylor@ucdavis.edu
http://www.econ.ucdavis.edu/faculty/amtaylor/
SSH 5202
(530) 754-7464

 

COURSE DESCRIPTION

In this course we will attempt to study growth in context that encompasses the long run. The very long run. Looking back over the last millennium, we will seek to identify how key features of the economic landscape have changed, and how they have (or have not) mattered for the emergence of the phenomenon loosely described as modern economic growth. The latter term is taken to mean the sustained increase in living standards that has been witnessed, at least in the developed countries, over the last two centuries. 

INFORMATION

Readings The reading list is long, and you are not expected to read every part of every single element. However, reading broadly is desirable. Learn to skim readings for their pertinent findings (examine introductions and conclusions for pointers to the discussion) and significant empirical contributions (examine tables and figures) until you know what argument is being made. BOTTOM LINE: Can you replicate the argument?

Grading Paper 75%, Presentation 25%

Paper As regards layout, the main text should be 20–25 pages in length, set in 12 point and double spaced with standard margins (one inch), with notes and bibliography using proper annotation and attribution. Consult a style manual if necessary (say, The Chicago Style Manual). A major element will be finding a suitable topic. You should consult with the instructor. To ensure that you are making progress towards finding a paper topic, a one-page proposal summarizing your topic is due by February 15.

Access to readings Most articles are available online, typically at:

Access to some sites is restricted, but is available from the UC Davis domain. Some other articles have a specific URL and are open-access. Remaining articles marked ® will be placed on reserve at the department. No books will be placed on reserve. 

READINGS AND SCHEDULE

Tuesday, January 8

No class meeting. To be rescheduled later in the quarter.

Thursday, January 10

Explicandum: Contours of Economic Growth in the Last Millenium

Stylized Facts

Maddison, Angus. 1995. Monitoring the World Economy. Paris: OECD.

Maddison, Angus. 2001. The World Economy: A Millenial Perspective. Paris: OECD.

Maddison, Angus. 2002. The World Economy: Historical Statistics. Paris: OECD.

Abramovitz, Moses. 1986. Catching Up, Forging Ahead, and Falling Behind. Journal of Economic History 46 (June): 385–406. http://links.jstor.org/sici?sici=0022-0507%28198606%2946%3A2%3C385%3ACUFAAF%3E2.0.CO%3B2-G

Baumol, William. 1986. Productivity Growth, Convergence and Welfare: What the Long-Run Data Show. American Economic Review 76 (December): 1072–85. http://links.jstor.org/sici?sici=0002-8282%28198612%2976%3A5%3C1072%3APGCAWW%3E2.0.CO%3B2-B

Pritchett, Lant. Divergence, Big Time. Journal of Economic Perspectives 11, no. 3 (1997): 3–17. http://links.jstor.org/sici?sici=0895-3309%28199722%2911%3A3%3C3%3ADBT%3E2.0.CO%3B2-T

Prados de la Escosura, Leandro. 2000. International Comparisons of Real Product, 1820–1990: An Alternative Data Set. Explorations in Economic History 37 (April): 1–41. http://dx.doi.org/10.1006/exeh.1999.0731

Allen, Robert C., 2001. The Great Divergence in European Wages and Prices from the Middle Ages to the First World War. Explorations in Economic History, vol. 38(4), pages 411-447, October.http://ideas.repec.org/a/eee/exehis/v38y2001i4p411-447.html

Gregory Clark. 2005. The Condition of the Working Class in England, 1209-2004. Journal of Political Economy. vol. 113(6), pages 1307-1340, December. http://ideas.repec.org/a/ucp/jpolec/v113y2005i6p1307-1340.html

Bourguignon, Francois, and Christian Morrisson. 2002. Inequality among World Citizens: 1820-1992. American Economic Review, vol. 92(4), pages 727-744, September. http://ideas.repec.org/a/aea/aecrev/v92y2002i4p727-744.html

Lindert, Peter H., and Jeffrey G. Williamson. 2003. Does Globalization Make the World More Unequal? In Globalization in Historical Perspective, edited by M. D. Bordo, A. M. Taylor and J. G. Williamson. Chicago: University of Chicago Press. http://papers.nber.org/papers/w8228

Kenny, Charles. 2005. Why Are We Worried About Income? Nearly Everything that Matters is Converging. World Development 33, 1-19. http://dx.doi.org/10.1016/j.worlddev.2004.06.016

Broadberry, Stephen, and Bishnupriya Gupta. 2006. The early modern great divergence: wages, prices and economic development in Europe and Asia, 1500-1800. Economic History Review, vol. 59(1), pages 2-31. http://ideas.repec.org/a/bla/ehsrev/v59y2006i1p2-31.html

Sala-i-Martin, Xavier. 2006. The World Distribution of Income: Falling Poverty and ... Convergence, Period. The Quarterly Journal of Economics, vol. 121(2), pages 351-397, file://localhost/May. http/::ideas.repec.org:a:tpr:qjecon:v121y2006i2p351-397.html

Big Think

[Do background reading from this section according to your interest.]

Cipolla, Carlo M. 1993. Before the Industrial Revolution: European Society and Economy, 1000–1700. New York: Norton.

De Long, J. Bradford. 2000. Slouching Towards Utopia: The Economic History of the Twentieth Century. http://econ161.berkeley.edu/TCEH/Slouch_Old.html

De Soto, Hernando. 2000. The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else. New York: Basic Books.

Diamond, Jared M. 1997. Guns, Germs, and Steel: The Fates of Human Societies. New York: W.W. Norton & Co.

Easterly, William. 2001. The Elusive Quest for Growth: Economists’ Adventures and Misadventures in the Tropics. Cambridge, MA: MIT Press.

Ferguson, Niall. 2003. Empire: The Rise and Demise of the British World Order and the Lessons for Global Power. New York: Basic Books.

Friedman, Thomas. 2000. The Lexus and the Olive Tree. New York: Farrar, Strauss and Giroux.

Jones, Eric L. 1981. The European Miracle. Cambridge: Cambridge University Press.

Landes, David S. 1998. The Wealth and Poverty of Nations: Why Some are so Rich and Some so Poor. New York: W.W. Norton.

North, Douglass C. 1990. Institutions, Institutional Change, and Economic Performance. Cambridge: Cambridge University Press.

Olson, Mancur, Jr. 2000. Power and Prosperity: Outgrowing Communist and Capitalist Dictatorships. New York: Basic Books.

Pomeranz, Kenneth. 2000. The Great Divergence: Europe, China, and the Making of the Modern World Economy. Princeton, N.J.: Princeton University Press.

Clark, Gregory. 2007. A Farewell to Alms: A Brief Economic History of the World. Princeton, N.J.: Princeton University Press.

Findlay, Ronald, and Kevin H. O’Rourke. 2007. Power and Plenty: Trade, War, and the World Economy in the Second Millennium. Princeton, N.J.: Princeton University Press.

Tuesday, January 15

The Birth of the Modern: Very Long Run Population Dynamics

Lee, Ronald D. 1973. Population in Pre-Industrial England: An Econometric Analysis. Quarterly Journal of Economics 87 (4): 581–607. http://links.jstor.org/sici?sici=0033-5533%28197311%2987%3A4%3C581%3APIPEAE%3E2.0.CO%3B2-7

Kelly, Morgan. 2004. Living Standards and Population Growth: Malthus was Right. University College Dublin. http://www.ucd.ie/economics/staff/mkelly/papers/popn.pdf

Kremer, Michael. 1993. Population Growth and Technological Change: One Million B.C. to 1990. Quarterly Journal of Economics 108 : 681–716. http://links.jstor.org/sici?sici=0033-5533%28199308%29108%3A3%3C681%3APGATCO%3E2.0.CO%3B2-A

Voigtländer, Nico and Voth, Hans-Joachim, The Three Horsemen of Growth: Plague, War and Urbanization in Early Modern Europe. Available at SSRN: http://ssrn.com/abstract=1029347.

Thursday, January 17

Global Bazaar: Expansion of Intra-European and Inter-Continental Trade

Findlay, Ronald, and Kevin H. O’Rourke. 2003. Commodity Market Integration, 1500–2000. In Globalization in Historical Perspective, edited by M. D. Bordo, A. M. Taylor and J. G. Williamson. Chicago: University of Chicago Press. http://nber.org/papers/w8579

Allen, Robert C., 2003. Progress and poverty in early modern Europe. Economic History Review vol. 56(3), pages 403-443, 08.http://ideas.repec.org/a/bla/ehsrev/v56y2003i3p403-443.html

O’Rourke, Kevin H., and Jeffrey G. Williamson. 2002. When Did Globalization Begin? European Review of Economic History 6 (April): 23-50. http://journals.cambridge.org/bin/bladerunner?REQUNIQ=1107328244&REQSESS=601769&118200REQEVENT=&REQINT1=100380&REQAUTH=0

Institutions and Barriers to Growth

De Long, J. Bradford, and Andrei Shleifer. 1993. Princes and Merchants: European City Growth before the Industrial Revolution.  Journal of Law and Economics 36 (October): 671–702. http://links.jstor.org/sici?sici=0022-2186%28199310%2936%3A2%3C671%3APAMECG%3E2.0.CO%3B2-9

Sokoloff, Kenneth L., and Stanley L. Engerman, 2000. Institutions, Factor Endowments, and Paths of Development in the New World. Journal of Economic Perspectives, vol. 14(3), pages 217-232, Summer. http://ideas.repec.org/a/aea/jecper/v14y2000i3p217-232.html

Acemoglu, Daron, Simon Johnson, James Robinson. 2005. The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth. American Economic Review, vol. 95(3), pages 546-579, June. http://ideas.repec.org/a/aea/aecrev/v95y2005i3p546-579.html

Ngai, L. Rachel, 2004. “Barriers and the transition to modern growth,” Journal of Monetary Economics, vol. 51(7), pages 1353-1383, October. http://ideas.repec.org/a/eee/moneco/v51y2004i7p1353-1383.html

Tuesday, January 22 (Alan Taylor)
Thursday, January 24 (guest lecturer: Greg Clark)
Tuesday, January 29 (Alan Taylor)

A Theory of Everything? Simple Stories, Complex Reality

Early Studies

Becker, Gary S., Kevin M. Murphy, and Robert Tamura. 1990. Human Capital, Fertility, and Economic Growth. Journal of Political Economy 98 (October): S12–37. http://links.jstor.org/sici?sici=0022-3808%28199010%2998%3A5%3CS12%3AHCFAEG%3E2.0.CO%3B2-L

Jones, Charles I. 2001. Was an Industrial Revolution Inevitable? Economic Growth Over the Very Long Run. Advances in Macroeconomics Vol. 1: No. 2, Article 1. http://www.bepress.com/bejm/advances/vol1/iss2/art1

Galor, Oded, and David N. Weil. 2000. Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond. American Economic Review 90 (September): 806–28. URL: http://links.jstor.org/sici?sici=0002-8282%28200009%2990%3A4%3C806%3APTAGFM%3E2.0.CO%3B2-G

Lucas, Robert E. 2002. The Industrial Revolution: Past and Future. In Robert E. Lucas, Lectures on Economic Growth. Cambridge: Harvard University Press. http://www.cepchile.cl/dms/archivo_1349_236/rev64_lucasing.pdf

Hansen, Gary D., and Edward C. Prescott. 2002. Malthus to Solow. American Economic Review 92 (September) : 1205–17. http://ideas.repec.org/a/aea/aecrev/v92y2002i4p1205-1217.html

Urbanization, Demography, Life Expectancy

Matthias Doepke, 2004. Accounting for Fertility Decline During the Transition to Growth. Journal of Economic Growth, 9(3), 347-383. http://ideas.repec.org/a/kap/jecgro/v9y2004i3p347-383.html

Cervellati, Matteo and Uwe Sunde. 2005. Human Capital Formation, Life Expectancy, and the Process of Development. American Economic Review 95(5): 1653–1672. http://ideas.repec.org/a/aea/aecrev/v95y2005i5p1653-1672.html

Oded Galor & Omer Moav, 2006. Das Human-Kapital: A Theory of the Demise of the Class Structure. Review of Economic Studies 73(1), 85-117. http://ideas.repec.org/a/bla/restud/v73y2006i1p85-117.html

Voigtländer, Nico, and Hans-Joachim Voth. 2006. Why England? Demographic factors, structural change and physical capital accumulation during the Industrial Revolution. Journal of Economic Growth 11(4), 319-361. http://www.springerlink.com/content/102931/

Trade

O’Rourke, Kevin H., and Jeffrey G. Williamson. 2002. From Malthus to Ohlin? Trade, Growth and Distribution Since 1500. Working Paper Series no. 8955, National Bureau of Economic Research (May). http://nber.org/papers/w8955

Galor, Oded, and Andrew Mountford. 2002. Why are one Third of People Indian and Chinese? Trade, Industrialization and Demographic Transition. Photocopy. http://papers.ssrn.com/sol3/delivery.cfm/SSRN_ID288782_code011104100.pdf?abstractid=288782

Robert E. Lucas, Jr., 2007. “Trade and the Diffusion of the Industrial Revolution.” NBER Working Papers 13286. http://ideas.repec.org/p/nbr/nberwo/13286.html

Daron Acemoglu & Fabrizio Zilibotti, 2001. Productivity Differences. Quarterly Journal of Economics 116(2), 563-606, May. http://ideas.repec.org/a/tpr/qjecon/v116y2001i2p563-606.html

O’Rourke, Kevin H., Ahmed S. Rahman, and Alan M. Taylor, 2007. Trade, Knowledge, and the Industrial Revolution. NBER Working Papers 13057. http://www.nber.org/papers/w13057

Clark, Gregory, Kevin H. O’Rourke Alan M. Taylor. 2008. Made in America? The New World, the Old, and the Industrial Revolution. American Economic Review Papers and Proceedings. Forthcoming. http://www.aeaweb.org/annual_mtg_papers/2008/2008_588.pdf

Krugman, Paul R & Venables, Anthony J, 1995. Globalization and the Inequality of Nations. Quarterly Journal of Economics, vol. 110(4), pages 857-80, November. http://ideas.repec.org/a/tpr/qjecon/v110y1995i4p857-80.html

Cultural/Genetic Transmission and Differential Fertility

Galor, Oded, and Omer Moav, 2002. Natural Selection And The Origin Of Economic Growth. Quarterly Journal of Economics 117(4), 1133-1191, November. http://ideas.repec.org/a/tpr/qjecon/v117y2002i4p1133-1191.html

Kremer, Michael, and Daniel L. Chen. 2002. Income Distribution Dynamics with Endogenous Fertility. Journal of Economic Growth 7 (3): 227-258, September 2002. http://dx.doi.org/10.1023/A:1020154031908

Clark, Gregory. 2007. Genetically Capitalist? The Malthusian Era, Institutions and the For-mation of Modern Preferences.  http://www.econ.ucdavis.edu/faculty/gclark/papers/Capitalism%20Genes.pdf

Galor, Oded, and Stelios Michalopoulos. 2006. “The Evolution of Entrepreneurial Spirit and the Process of Development.” CEPR Discussion Papers 6022. http://ideas.repec.org/p/cpr/ceprdp/6022.html

Matthias Doepke & Fabrizio Zilibotti, 2007. Occupational Choice and the Spirit of Capitalism. NBER Working Papers 12917. http://ideas.repec.org/p/nbr/nberwo/12917.html

Can Theory Fit the Facts?

Clark, Gregory. 2000. The Secret History of the Industrial Revolution. UC Davis (October). Photocopy. http://www.econ.ucdavis.edu/faculty/gclark/papers/secret2001.pdf

Clark, Gregory. 2003. The Great Escape: The Industrial Revolution in Theory and History. UC Davis. Photocopy. http://www.econ.ucdavis.edu/faculty/gclark/papers/jel2003.pdf

Voth, Hans-Joachim. 2003. Living Standards During the Industrial Revolution: An Economist’s Guide. American Economic Review 93 (May): 221–26. http://www.econ.upf.es/crei/people/voth/publications/living_standards.pdf

Mokyr, Joel and Hans-Joachim Voth. 2007. Understanding Growth in Europe, 1700–1870: First Industrializations, Unified Growth Theory, and Beyond. In: Steven Broadberry,Kevin O’Rourke, eds. Cambridge Economic History of Europe, vol. I, Cambridge. Forthcoming. http://ideas.repec.org/p/deg/conpap/c011_002.html

Thursday, January 31

Up (and Down?) the Escalators: Sources of Convergence and Divergence

It’s k

Solow, Robert M. 1956. A Contribution to the Theory of Economic Growth. Quarterly Journal of Economics 70 (February): 65–94. http://links.jstor.org/sici?sici=0033-5533%28195602%2970%3A1%3C65%3AACTTTO%3E2.0.CO%3B2-M

Dowrick, Steven, and Duc-Tho Nguyen. 1989. OECD Comparative Economic Growth 1950–85: Catch-Up and Convergence. American Economic Review 79 (December): 1010–30. http://links.jstor.org/sici?sici=0002-8282%28198912%2979%3A5%3C1010%3AOCEG1C%3E2.0.CO%3B2-T

Young, Alwyn. 1995. The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience. Quarterly Journal of Economics 110 (August): 641–680. http://links.jstor.org/sici?sici=0033-5533%28199508%29110%3A3%3C641%3ATTONCT%3E2.0.CO%3B2-8

k Versus h

Lucas, Robert E. 1988. On the Mechanics of Economic Development. Journal of Monetary Economics 22 (July): 3–42. http://dx.doi.org/10.1016/0304-3932(88)90168-7

Mankiw, N. Gregory, David Romer, and David N. Weil. 1992. A Contribution to the Empirics of Economic Growth. Quarterly Journal of Economics 107 (May): 407–37. http://links.jstor.org/sici?sici=0033-5533%28199205%29107%3A2%3C407%3AACTTEO%3E2.0.CO%3B2-5

Oded Galor & Omer Moav, 2004. From Physical to Human Capital Accumulation: Inequality and the Process of Development. Review of Economic Studies 71(4), 1001-1026. http://ideas.repec.org/a/bla/restud/v71y2004i4p1001-1026.html

Tuesday, February 5

No, It’s A

Rebelo, Sergio. Long-Run Policy Analysis and Long-Run Growth. Journal of Political Economy 99, no. 3 (1991): 500–21. http://links.jstor.org/sici?sici=0022-3808%28199106%2999%3A3%3C500%3ALPAALG%3E2.0.CO%3B2-M

Clark, Gregory. 1987. Why Isn’t the Whole World Developed? Lessons from the Cotton Mills. Journal of Economic History 47 (March): 141–73. http://links.jstor.org/sici?sici=0022-0507%28198703%2947%3A1%3C141%3AWITWWD%3E2.0.CO%3B2-Y

Hall, Robert E., and Charles I. Jones. 1999. Why Do Some Countries Produce So Much More Output per Worker than Others? Quarterly Journal of Economics 114 (February): 83–116. http://links.jstor.org/sici?sici=0033-5533%28199902%29114%3A1%3C83%3AWDSCPS%3E2.0.CO%3B2-S

Easterly, William, and Ross Levine. 2001. What Have We Learned from a Decade of Empirical Research on Growth? It's Not Factor Accumulation: Stylized Facts and Growth Models. World Bank Economic Review  15 (August):  177–219. http://wber.oupjournals.org/cgi/reprint/15/2/177.pdf

Clark, Gregory, and Robert C. Feenstra. 2003. Technology in the Great Divergence. In Globalization in Historical Perspective, edited by M. D. Bordo, A. M. Taylor and J. G. Williamson. Chicago: University of Chicago Press. http://papers.nber.org/papers/w8596

But A Includes the Misallocation of k

Chang-Tai Hsieh & Peter J. Klenow. 2007. Misallocation and Manufacturing TFP in China and India. NBER Working Papers 13290. http://www.nber.org/papers/w13290

Thursday, February 7

Then Again, It Could be Both A and k

Dowrick, Steve and Mark Rogers. 2002. Classical and technological convergence: beyond the Solow-Swan growth model.  Oxford Economic Papers 54 (July):  369–85. http://oep.oupjournals.org/cgi/reprint/54/3/369.pdf

Basu, Susanto, and David N. Weil. 1998. Appropriate Technology and Growth. Quarterly Journal of Economics 113 (November): 1025–54. http://links.jstor.org/sici?sici=0033-5533%28199811%29113%3A4%3C1025%3AATAG%3E2.0.CO%3B2-I

Acemoglu, Daron, and Jaume Ventura. 2002. The World Income Distribution. Quarterly Journal of Economics 117 (May): 659–94. http://www.nber.org/papers/w8083

END OF PART ONE

 

Tuesday, February 12

Globaloney? The Openness and Growth Debate

Trade and Growth: Today’s Debate

Edwards, Sebastian, 1992. Trade orientation, distortions and growth in developing countries. Journal of Development Economics, vol. 39(1), pages 31-57, July. http://ideas.repec.org/a/eee/deveco/v39y1992i1p31-57.html

Sachs, Jeffrey D., and Andrew M. Warner. 1995. Economic Reform and the Process of Global Integration. Brooking Papers on Economic Activity : 1–118. http://links.jstor.org/sici?sici=0007-2303%281995%291995%3A1%3C1%3AERATPO%3E2.0.CO%3B2-G

Frankel, Jeffrey A., and David Romer. 1999. Does Trade Cause Growth? American Economic Review 89 (June): 379–99. Stable URL: http://links.jstor.org/sici?sici=0002-8282%28199906%2989%3A3%3C379%3ADTCG%3E2.0.CO%3B2-U

Rodriguez, Francisco, and Dani Rodrik. 2001. Trade Policy and Economic Growth: A Skeptic’s Guide to Cross-National Evidence. In NBER Macroeconomics Annual 2000, edited by B. S. Bernanke and K. Rogoff. http://nber.org/papers/w7081

Wednesday, February 13

One-on-one meetings to discuss research papers (2pm–5pm)

Thursday, February 14

Trade and Growth: Evidence from the Past

O’Rourke, Kevin H. 2000. Tariffs and Growth in the Late 19th Century. Economic Journal 110 (April): 456–83. http://dx.doi.org/10.1111/1468-0297.00533

Douglas A. Irwin. 2002. Did Import Substitution Promote Growth in the Late Nineteenth Century? NBER Working Paper No. 8751. http://www.nber.org/papers/w8751

Clemens, Michael A., and Jeffrey G. Williamson. 2004. Why Did the Tariff-Growth Correlation Reverse after 1950? Journal of Economic Growth 9 (1): 5-46. http://dx.doi.org/10.1023/B:JOEG.0000023015.44856.a9

Trade and Growth: Evidence from Within Identification/Event Studies

Ann Harrison, 1995. Openness and Growth: A Time-Series, Cross-Country Analysis for Developing Countries. NBER Working Papers 5221, National Bureau of Economic Research, Inc. http://ideas.repec.org/p/nbr/nberwo/5221.html

Romain Wacziarg & Karen Horn Welch, 2003. Trade Liberalization and Growth: New Evidence. NBER Working Papers 10152, National Bureau of Economic Research, Inc. http://ideas.repec.org/p/nbr/nberwo/10152.html

Hausmann, Ricardo, Lant Pritchett, and Dani Rodrik, 2005. Growth Accelerations. Journal of Economic Growth, vol. 10(4), pages 303-329, December. http://ideas.repec.org/a/kap/jecgro/v10y2005i4p303-329.html

Estevadeordal, Antoni, and Alan M. Taylor. 2007. Is the Washington Consensus Dead? Growth, Openness, and the Great Liberalization, 1970s–2000s. Photocopy. http://www.hbs.edu/units/bgie/pdf/Taylor.pdf

Tuesday, February 19

Increasing Returns and Openness

Matsuyama, Kiminori. Agricultural Productivity, Comparative Advantage, and Economic Growth. Journal of Economic Theory 58 (1992): 317—34. http://dx.doi.org/10.1016/0022-0531(92)90057-O

Krugman, Paul, and Anthony J. Venables. Globalization and the Inequality of Nations. Quarterly Journal of Economics 110 (1995): 857—80. http://links.jstor.org/sici?sici=0033-5533%28199511%29110%3A4%3C857%3AGATION%3E2.0.CO%3B2-C

Ades, Alberto F., and Edward L. Glaeser. 1999. Evidence on Growth, Increasing Returns, and the Extent of the Market. Quarterly Journal of Economics 114 (August): 1025–46. http://links.jstor.org/sici?sici=0033-5533%28199908%29114%3A3%3C1025%3AEOGIRA%3E2.0.CO%3B2-B

Thursday, February 21 NO MEETING

 

Tuesday, February 26

Capital Movements

Lucas, Robert E., Jr. 1990. Why Doesn’t Capital Flow from Rich to Poor Countries? American Economic Review 80 (May): 92–96. http://links.jstor.org/sici?sici=0002-8282%28199005%2980%3A2%3C92%3AWDCFFR%3E2.0.CO%3B2-J

Jones, Charles I. 1994. Economic Growth and the Relative Price of Capital. Journal of Monetary Economics 34 : 359–82. http://dx.doi.org/10.1016/0304-3932(94)90024-8

Mazumdar, Joy. 1996. Do Static Gains from Trade Lead to Medium-Run Growth? Journal of Political Economy 104 (December): 1328–37. http://links.jstor.org/sici?sici=0022-3808%28199612%29104%3A6%3C1328%3ADSGFTL%3E2.0.CO%3B2-Y

Gourinchas, Pierre-Olivier, and Olivier Jeanne. 2003. The Elusive Gains from International Financial Integration. NBER Working Paper No. w9684. http://www.nber.org/papers/w9684

Gourinchas, Pierre-Olivier & Olivier Jeanne, 2007. Capital Flows to Developing Countries: The Allocation Puzzle. NBER Working Papers 13602, National Bureau of Economic Research, Inc. http://ideas.repec.org/p/nbr/nberwo/13602.html

Francesco Caselli, 2007. The Marginal Product of Capital. Quarterly Journal of Economics, vol. 122(2), pages 535-568, 05. http://ideas.repec.org/a/tpr/qjecon/v122y2007i2p535-568.html

Hsieh, Chang-Tai & Peter J. Klenow. 2007. Relative Prices and Relative Prosperity. American Economic Review, vol. 97(3), pages 562-585, June. http://ideas.repec.org/a/aea/aecrev/v97y2007i3p562-585.html

Kose, M. Ayhan & Eswar Prasad & Kenneth S. Rogoff & Shang-Jin Wei, 2006. Financial Globalization: A Reappraisal. NBER Working Papers 12484, http://ideas.repec.org/p/nbr/nberwo/12484.html

Eswar S. Prasad & Raghuram G. Rajan & Arvind Subramanian, 2007. Foreign Capital and Economic Growth. Brookings Papers on Economic Activity, vol. 1(2007-1), pages 153-230. http://ideas.repec.org/a/bin/bpeajo/v1y2007i2007-1p153-230.html

Henry, Peter Blair, 2007. Capital Account Liberalization: Theory, Evidence, and Speculation. Journal of Economic Literature, vol. 45(4), pages 887-935, December. http://ideas.repec.org/a/aea/jeclit/v45y2007i4p887-935.html

Policies and Institutions

Alfaro, Laura & Sebnem Kalemli-Ozcan & Vadym Volosovych, 2005. Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation. NBER Working Papers 11901. http://ideas.repec.org/p/nbr/nberwo/11901.html

Kalemli-Ozcan, Sebnem & Reshef, Ariell & Sorensen, Bent E & Yosha, Oved. 2006. Why Does Capital Flow to Rich States? CEPR Discussion Papers 5635, C.E.P.R. Discussion Papers. http://ideas.repec.org/p/cpr/ceprdp/5635.html

Lane, Philip R., and Gian Maria Milesi-Ferretti, 2008. The Drivers of Financial Globalization. The Institute for International Integration Studies Discussion Paper Series iiisdp238, IIIS. http://ideas.repec.org/p/iis/dispap/iiisdp238.html

Thursday, February 28

Social Fragmentation, Diversity, Ethnicity

Mauro, Paolo. 1995. Corruption and Growth. Quarterly Journal of Economics, 110: 681-712. http://links.jstor.org/sici?sici=0033-5533%28199508%29110%3A3%3C681%3ACAG%3E2.0.CO%3B2-Q

Knack, Stephen, and Philip Keefer. 1997. Does Social Capital Have an Economic Payoff? A Cross-Country Investigation. Quarterly Journal of Economics 112 (November): 1251–88. http://links.jstor.org/sici?sici=0033-5533%28199711%29112%3A4%3C1251%3ADSCHAE%3E2.0.CO%3B2-Y

Alesina, Alberto, Arnaud Devleeschauwer, William Easterly, Sergio Kurlat, and Romain Wacziarg. 2003. Fractionalization. Journal of Economic Growth, vol. 8(2), pages 155-94, June. http://ideas.repec.org/a/kap/jecgro/v8y2003i2p155-94.html

Michalopoulos, Stelios. 2008. Ethnolinguistic Diversity: Origins and Implications. Brown University. January 20, 2008. http://www.stelios.michalopoulos.googlepages.com/jobmarketpaper

Galor, Oded, and Quamrul Ashraf. 2008. Human Genetic Diversity and Comparative Economic Development. Working Papers 2008-3, Brown University, Department of Economics. http://ideas.repec.org/p/bro/econwp/2008-3.html

Tuesday, March 4

Imperialism

O’Brien, Patrick. 1982. European Economic Development: The Contribution of the Periphery. Economic History Review 35 (February): 1–18. http://links.jstor.org/sici?sici=0013-0117%28198202%292%3A35%3A1%3C1%3AEEDTCO%3E2.0.CO%3B2-W

Edelstein, M. Imperialism: Cost and Benefit. In The Economic History of Britain Since 1700, vol. 2, edited by R. Floud and D. McCloskey. 2nd ed. 2 vols. Cambridge: Cambridge University Press, 1994. ®

Offer, Avner. The British Empire, 1870–1914: A Waste of Money? Economic History Review 46 (1993): 215–39. http://links.jstor.org/sici?sici=0013-0117%28199305%292%3A46%3A2%3C215%3ATBE1AW%3E2.0.CO%3B2-N

Ferguson, Niall. 2003. British Imperialism Revised: The Costs and Benefits of ‘Anglobalization.’ Stern School of Business, New York University, Development Research Institute Working Paper Series No. 2, April 2003. http://www.nyu.edu/fas/institute/dri/DRIWP/DRIWP02.pdf

Mitchener, Kris James, and Weidenmier, Marc, 2005. Empire, Public Goods, and the Roosevelt Corollary. Journal of Economic History vol. 65(03), pages 658-692, August. http://ideas.repec.org/a/cup/jechis/v65y2005i03p658-692_00.html

Institutions Again

Acemoglu, Daron, Simon Johnson, and James A. Robinson. The Colonial Origins of Comparative Development: An Empirical Investigation. American Economic Review 91, no. 5 (2001): 1369–96. http://links.jstor.org/sici?sici=0002-8282%28200112%2991%3A5%3C1369%3ATCOOCD%3E2.0.CO%3B2-9

Acemoglu, Daron, Simon Johnson, and James A. Robinson. 2002. Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution. Quarterly Journal of Economics 117 (November): 1231–94. http://www.nber.org/papers/w8460

Thursday, March 6

Law

Edward L. Glaeser & Andrei Shleifer, 2002. Legal Origins. Quarterly Journal of Economics, vol. 117(4), pages 1193-1229, November. http://ideas.repec.org/a/tpr/qjecon/v117y2002i4p1193-1229.html

Daron Acemoglu and Simon Johnson, 2005. Unbundling Institutions. Journal of Po