Search results for "Economic rent"

The grain market, short-term credit, and economic inequality in the Kingdom of Valencia. The towns of Cocentaina, and Castellón in the Fifteenth-Cent…

2018

Despite the predominance of small peasant farms in the Valencian countryside in the Late Middle Ages, large sections of the peasantry were forced to turn to the market to obtain cereals for consumption and sowing. Insufficient land and lack of liquidity caused by the seasonal cycle of crops made it necessary to use short-term credit, which was recorded in the court of local justice in the legal form of “obligacions”. The aim of this paper is to analyse the economic role of this credit market, identifying varieties of commercialised cereals, seasonality of purchases and payments, price trends and the socio-professional background of buyers (debtors) and sellers (creditors). Thus, we study ho…

Distritos industriales y renta económica: el efecto distrito – renta

2019

En el presente trabajo se expone una primera aproximación al efecto distrito desde la variable de la renta económica, lo que se ha denominado efecto distrito – renta. Esta aproximación al fenómeno distritural se realiza desde la perspectiva del desarrollo local neomarshalliano para enfatizar la centralidad del distrito industrial como fuente de interpretaciones propias sobre el cambio económico y sujeto activo del mismo. A nivel empírico se realiza una aproximación a la contrastación de la existencia o no de efecto distrito – renta en los distritos industriales españoles para el año 2013; estos datos son analizados a través de la comparativa de la renta total, per cápita y por ocupado expre…

Product and Labour Market Regulations, Production Prices, Wages and Productivity

2016

ACLN; International audience; This study is an attempt to evaluate the effects of product and labour market regulations on industry productivity through their various impacts on changes in production prices and wages. In a first stage, the estimation of a regression equation on an industry*country panel, with controls for country*industry and country*year fixed effects, show that multi-factor productivity is negatively and significantly influenced by both indicators of industrial prices from same industry and weighted average of industrial prices from other industries, and by indicators of country wages weighted by industry labour shares for low and high skilled workers. In a second stage, …

Élites campesinas en el entorno de la ciudad de Valencia: los Castrellenes

2017

This paper seeks to analyse economy of a well-to-do peasant family settled in the urban fringes of the city of Valencia, capital of the kingdom, in the first half of fifteenth Century. The death of the head of the family, due to the plague, made emerge the solidarity of the relatives, who took care of the orphans. Thanks to the memorial of rents we can assess the economic strategies of a wealthier peasant family, the importance of markets and the city and countryside relations.

Rents instead of Land. Credit and Peasant Indebtedness in Late Medieval Mediterranean Iberia: the Kingdom of Valencia

2021

AbstractThe literature on the rural economy of the high and late Middle Ages has long established a close correlation between three significant features of the period: the spread of rural credit, the dynamism of the peasant land market and the expropriation of peasant land by the creditors, usually yeomen or urban landowners. There has even been talk for some countries (northern Italy) of a deliberate strategy of territorial conquest, insofar as the credit provided by urban lenders would aim at the expropriation of land from insolvent debtors. This article studies for the Mediterranean Spain of the late Middle Ages, and in particular for the old kingdom of Valencia, other objectives of rura…

Rent Seeking in Public Procurement

2005

Self-Enforcing, Public-Order Institutions for Contract Enforcement: Litigation, Regulation, and Limited Government in Venice, 1050–1350

2011

The spectacular economic growth of Venice during the late medieval period (1050–1350) was based on the expansion of its trade along the Mediterranean and beyond. Crucial to this expansion was the mobilization of large amounts of capital into risky investments. However, this mobilization required the development of institutions that protected creditors and shareholders from expropriation by controlling merchants. This chapter finds that legal and administrative institutions conjointly provided investor protection and explores the interactions between these public-order institutions for contract enforcement and the emergence of a limited government, a coercion-constraining institution that mo…

On How Firms Located in an Industrial District Profit from Knowledge Spillovers: Adoption of an Organic Structure and Innovation Capabilities

2011

The canonical approach argues that firms located in industrial districts enjoy advantages for both innovation and performance as a consequence of the exceptionally strong knowledge spillovers that flow freely and spontaneously within them. However, diffusion of shared competences is not as easy and free as postulated in the literature. Using the resource-based view, we study whether clustered firms perform better than non-clustered firms, by providing empirical evidence that location of firms in an industrial district does not directly create innovation capabilities or economic rents. This research question is important because it enables us to better understand how firms benefit from this …

Do Rent-Seeking and Interregional Transfers Contribute to Urban Primacy in Sub-Saharan Africa?

2006

We develop an economic geography model in which mobile skilled workers choose between working in the production sector or becoming part of an unproductive political elite. The elite sets tax rates on skilled and unskilled workers to maximize its own welfare by extracting rents, thereby influencing the spatial allocation of production and changing the available range of consumption goods. We show that such behavior increases the likelihood of agglomeration and of urban primacy. In equilibrium, the elite may tax the unskilled workers but will never tax the skilled workers, and there are rural-urban transfers towards the agglomeration. The size of the elite and the magnitude of the tax burden …

Economies d'agglomération et configurations spatiales dans les espaces ruraux

1997

The question to be addressed here is that of the agglomeration/dispersion forces that are likely to account for the location of people and jobs in rural areas and the way they explain spatial patterns in rural areas depending on urban influence. Economic geography models may provide suitable tools with which to investigate the organization of rural areas. We first review these models, focusing on dispersion forces, which rest basically on land consumption and transport costs. We suggest then a set of hypotheses concerning the main forces at work in rural areas. Intensity of agglomeration economies is hypothesized to be related to the urban size, which in turn induces increasing land rents a…