We investigate two determinants of firm exits: technological change and market integration. Contrary to previous studies, we argue that these two factors should not be considered separately: their interaction spurs firms' exit even more. To test this hypothesis, we introduce a new dataset on individual bankruptcies at the location-sector-year level in late 19th century Britain, which we...
Concessions to private companies were a common form of economic and administrative organization during the colonial era in Africa. In 1891, Portugal granted the central and northern regions of Mozambique as concessions to private companies, the Mozambique and Niassa Companies. These companies operated with state-like powers and implemented a vast forced labour regime that exploited the natural...
We study the emergence of modern social mobility in England, connected to the breakdown of a society regulated by ascriptive inherited characteristics, and its association with the Industrial Revolution. We combine two new datasets on individual wealth holdings before and after the Industrial Revolution. We show that ascriptive characteristics, such as hereditary titles, occupational last...
