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The spread of empire: clio and the measurement of colonial borrowing costs

Accomminoti, Olivier, Flandreau, Marc and Rezzik, Riad (2011) The spread of empire: clio and the measurement of colonial borrowing costs. The Economic History Review, 64 (2). pp. 385-407. ISSN 0013-0117

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Abstract

Modern cliometric studies use dummy variables to measure the effects of institutions. The dummy variable approach can be misleading, as illustrated by recent research on the impact of colonial rule on borrowing terms. We show how trying to measure a ‘colonial effect’ without an analysis of the financial consequences of political subjection can be misleading. The main effect of the British Empire was to remove the default risk. Establishing how this was done, and with what effects, should take us closer to a proper understanding of the effect of empire.

Item Type: Article
Official URL: http://www.blackwellpublishing.com/journal.asp?ref...
Additional Information: © 2010 Economic History Society
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
J Political Science > JV Colonies and colonization. Emigration and immigration. International migration
Journal of Economic Literature Classification System: N - Economic History > N1 - Macroeconomics and Monetary Economics; Growth and Fluctuations > N10 - General, International, or Comparative
Sets: Departments > Economic History
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 20 Jun 2011 08:57
URL: http://eprints.lse.ac.uk/36872/

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