The Consequences of Radical Reform - The French Re

download The Consequences of Radical Reform - The French Re

of 22

Transcript of The Consequences of Radical Reform - The French Re

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    1/22

    American Economic Review 101 (December 2011): 32863307http://www.aeaweb.org/articles.php?doi=10.1257/aer.101.7.3286

    3286

    I w xp y F

    R Ep, p w Gy, q

    , xy p q w. A 1792

    F p y Ep .

    T F p y q w

    x ; y p , -

    , qy w, p. T - p

    y

    . F xp, w

    xy p ky

    p w F R f

    .1 I , w , y ,

    k w p w Ep

    y w y

    p w (M O 1982;A 2008).2

    1F Hyk(1960) y ( w j y ), ppp pf (.., D Bkwz, K P, J-F R 2003; Bkwz, P, R 2003; D Rk 2007). R L P . (1998)pz f w F .

    2T x w ancienrgime p p w w F R py Ep p p. T q FR p p y, w y p .

    The Consequences of Radical Reform:

    The French Revolution

    By Daron Acemoglu, Davide Cantoni,

    Simon Johnson, and James A. Robinson*

    * A: Dp E, M I Ty, 50 M D, C,MA 02139, CIFAR(-: @.); C: S W, Lw-Mx-U, Lw. 33/IV 80539 M Gy (-: [email protected].);J: S S M, MIT, 50 M D, C, MA 02139 (-: j@.); R: Dp G IQSS, H Uy, 1737 C S., C,MA 02138, NBER CIFAR (-: j@..). W k J D, R Dx,N F, T G, P H, Pp H, J Mky, S O, W R,J V, J W, P W, pp A E A, ISy Nw I E, V Spk , - A N, CIFAR, H, M, P S E, USC, Y . Lp F, C G-J, Tk H, J Hpp, M Kpp p

    x . T w , p p://www.w./.pp?=10.1257/.101.7.3286.

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    2/22

    3287ACEMOGLU ET AL.: CONSEQUENCES OF RADICAL REFORMVOL. 101 NO. 7

    W q F R

    w p G p q

    Ry W. P Gy, py w w, w

    , y y F , , w

    w . W f - p

    w f F , F p (y), pxy ppy, z . T p. I, y w f-

    y w z

    y.3

    W G p

    -

    p. W w w

    F ( ). U p f ,w - , w z

    q w. T pp w- y

    w. F, w x p

    , z. S,

    p yp F wk

    y p p p Gy. O,

    w p y F -

    q. O y, y p

    w y p .

    Cy f y, p Gy choose F

    , w imposed f y R

    y Np.4 M, xp y F

    p w w p. I, w j .T f w , py p A P

    ( B) p pp y . T w -, F xp y ,

    F .5 I y ,

    pp F R w

    z p , y y j yp

    j y p y, y, y

    p pw.6 T, f ppx, w k

    3T wk pp y (A . 2009) p -, Ep-w

    w p xp f F .4I , w J ( ) p y F ,

    p py j w w py F. S, xp, W Dy (1989, p 9).

    5T y G D : L F q p , q z, R, O, Ap. L, f pq (p N C, Jy 31, 1793; q Ty C. W.B 1983, p. 2).

    6I ky F w z p w pfy w. I , ky y p w w w ( J Mky2003). T xp x. By 1800 B w - py (.., p) y . Tx p p y R, w, F

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    3/22

    3288 THE AMERICAN ECONOMIC REVIEW DECEMBER 2011

    p F R x -

    p .

    T z w. S I p w

    y F R q Ep y

    F. S II . S III p -

    w F p pxy p, z, G p. S IV

    -

    p w F p -

    . S V , w

    App.

    I. Historical Overview

    A.Europe beore the Revolution

    B F R, Ep w y w k

    : y - y -

    p.7 By y, -

    pp y p Ep,

    y p. S

    E Ep ( J B 1978), w p y x w ,

    w q x

    k.8 F xp, R, f Gy

    F , (Grundherrschat), w y

    , w p (B 1983). M, y y y q p - . T p w qy xp x,

    w j p w , jy x

    p .

    T y w pp p z.

    A j p w y , fy y

    p y p w

    p. S xp p p-

    y H K (1989), S O (2004), Ek L (2009).I j R, C A, p w

    x (p w) w fy y

    R pfy y w p . Ny, py p y F p w otherreasons.

    7T w w Dy (1989), R R. P (1959), P (1964), G R(1988), B (1983), B (1986), B (1996), D G (1997), Ax G (2003), CJ. E (1996), E (2001), Gy E (2003).

    8S E Ep p p y, p wk w w w w p Gyw E .

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    4/22

    3289ACEMOGLU ET AL.: CONSEQUENCES OF RADICAL REFORMVOL. 101 NO. 7

    .9 I , y w y w y

    , w xp p w w

    y .

    B. The Revolution and its Eect on Europe

    T f w w y F j Ep pw

    - W F C k 1792. Cy

    y xp, w Rp w -

    y w. F w xp w y

    w w w Rp -

    P A. T F qky z p-y B,

    N, -y Swz. By 1795, F

    f R ( k R); 1802 w fyp F.

    A Np k, F p p wy

    Ep. I Gy, w y

    R, Np

    F . T P L (Fy 1801) z Hy R Ep. H

    p , p w

    k, pp, ; y,

    k w 40 (G 2003). M xpP w 1806 C R.

    A , Np p z w

    Gy . T Dy B

    k R w M 1806 ( y --w JM), K Wp ( y J) A 1807, G Dy Fk Fy 1810 (Np p, E B, w pp ). T w y F p- p w Np R. D p

    Np k p N Gy, D 1810

    x F p Lw Sxy ( p K H) H H, Lk, B.

    C.Institutional Changes

    My Ep w Gy w k F y

    . W p F R 1790

    , py p

    y pp (, .., B 1983;Dy 1989), p y R q. M fy, w 1795 1798

    9D w, pp fy , xp, .., y Sp R. Ep (1998).O , O (2007).

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    5/22

    3290 THE AMERICAN ECONOMIC REVIEW DECEMBER 2011

    w (B 1983), p wy y k. Eqy p w . F xp, F

    A 1794 w w w

    R (Jy D 1980), w w py p y w.

    A Np w Ep k y , yw y, p y

    y ( G 2003; Ow Cy 1965; J. S W 1991).Np w p (CodeNapolon) - p (My Ly 1994). K pz p (1989, p. 212): W y w qy CodeNapolon, R

    ( k) w y p-- wk, y y w yy -

    z y. T R w y-

    p w w . S w y-

    y G k, K

    Wp, G Dy B.

    I p, Np y F p,

    py w p w .

    N, p w p p

    y R. T

    . F, Np py w

    y p y .

    S, k , w F. Fy,

    p , p,

    qy w x Np q.

    A f p Np 1815 p

    p 25 y . I R, w p

    w P q C V, w

    y p F , -

    . P w p

    F ( H A. L. F 1903). T p w y w ky . I p,

    w y pw, H, Bwk,

    H-K, w k. A q

    w y ancien rgime pp pw. I y S IV w pfy

    y x py.

    II. Data

    A. Outcome Variables

    W 19 py p Gy, w p

    p -y Gy, p

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    6/22

    3291ACEMOGLU ET AL.: CONSEQUENCES OF RADICAL REFORMVOL. 101 NO. 7

    (P, B). O ppy p z , f pp

    w 5,000 . P B (1988, . 1) J V(1984) y w py pp wk pp pp. A, J,

    R (2002) p - -- w z p p

    w z.

    Uz py G p p

    y z B, J B, P C (1988), pp .

    D Appx B.

    Uz 1850 p-

    G Ep. I z, w

    p py 64 G y

    1849, 1882, 1895, 1907 ( H Fk 1994). T py- y pxy z

    k w p w z w

    z.

    B. Other Variables

    O f y w 1792 1815

    py q w F p. W y w

    F p pp-

    y p F ; w x y p

    y , xp P. T 1 19 p , y . T

    x p z p

    F (.., p xp ), - wk yp. N, w- q

    y w p y x

    w F .

    W x Gy, w p

    F p --

    - y. H ( Appx D ) w k

    p. W F , - . W p x

    pk , w

    y y,

    x , z ( w y C ). T 1 p Gy, p- y f p.

    C 2 w w p w

    qy w. T F (CodeNapolon) y, Sx 1863 G

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    7/22

    3292 THE AMERICAN ECONOMIC REVIEW DECEMBER 2011

    (BrgerlichesGesetzbuch) 1900.10 T w w1802 1810 y F. N B w

    , F 1810.

    T w w x : f,

    3, ( y , w p y 1800

    p Gy w E) , 4, p - ,

    Grundherrschat. I , w w p-

    y p ppy p (y, 2025 py ). F 3 4, wp k -

    . A , pp p w

    P C V y (P

    10O w z - qy w, P AllgemeinesLandrecht 1795 B CodexMaximilianeus 1756; Appx E.

    Table 1Territories and Reforms

    T

    Y

    F

    C

    A

    A

    A

    R

    1850

    R

    1900

    P.

    w

    (1750)(1) (2) (3) (4) (5) (6) (7) (8)

    Panel A. Treatment

    R (P) 19 1802 1798 1804 1795 50.25 100.25 1,439P (B) 19 1802 1798 1804 1795 50.25 100.25 239Mk/R (P) 6 181015, 1900 1808 1825 1809 28.25 65.75 150W (P) 6 181015, 1900 1808 1825 1809 28.25 65.75 529Bwk 6 180814, 1900 180818, 1834 180918, 1834 180815, 1864 16 50 155

    P S

    (P)6 180815, 1900 1808 1809 1809 32.75 70.25 763

    H-K 6 180814, 1900 180814, 1832 180914, 1832 180816, 1869 15.25 48 294

    H 3 180813, 1900 180814, 1833 180914, 1833 180815, 1869 14.25 47 1,090

    Average 9.98 32.41 72.88

    Panel B. Control

    B 0 1810 1783 1820 1862 34.25 81.25 609B, 0 1900 1808 1826 1868 16.5 49.5 1,163

    H-D 0 1900 1811 1816 1866 18.25 51.75 264

    S 0 1865 1832 1832 1862 9 52.25 1,020

    W 0 1900 1817 1836 1862 11.75 46.25 925

    Average 0 16.31 54.46

    Panel C. Control (east of the Elbe)B (P) 0 1900 1811 1821 1810 27 64.5 797E P (P) 0 1900 1811 1821 1810 27 64.5 554P (P) 0 1900 1811 1821 1810 27 64.5 342S (P) 0 1900 1811 1821 1810 27 64.5 1,053Mk-Sw 0 1900 1820 1862 1869 7.5 37.25 217

    Sw-H 0 1900 1805 1805 1867 22.5 55.75 541

    Average 0 25.1 61.46

    Notes: S Appx. A w y pp 1750 (p 8, 1,000). T x 6 7 p xpy w (1850, 1900) p x.

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    8/22

    3293ACEMOGLU ET AL.: CONSEQUENCES OF RADICAL REFORMVOL. 101 NO. 7

    yp xp z). I , Bwk, H, H-K, w 1815,

    k Np .

    C 5 w w , y

    y, y y p . W kw

    w w -

    p ,

    , w xpy. A, w

    p w y ( w k), w , w xp P, z y y y.

    I 6 7 w p x w xpy

    , 1850 1900. F py, x p py y

    y p p y 4. A

    xp, Dy Bwk, w w y F

    K Wp, w yy w

    y C V. By 1850 x y y Code

    Napolon, p 26 y,

    25 y, y. T

    x Bwk 1850 (6 + 25 + 26 + 7)/4 = 16.T x w w p w Gy w

    y F, p w y z, k P

    B, Gy -

    p p T 1, F 1. I 1850,

    , x w 50.25 R 28.25 Wp.

    T w 27 P p E 34.25

    B p x z

    p w p

    , - y .

    0

    20

    40

    60

    80

    Reformsin

    dex

    1700 1750 1800 1850 1900

    Year

    Treatment Control

    Figure 1. Reforms Index, by Treatment Group

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    9/22

    3294 THE AMERICAN ECONOMIC REVIEW DECEMBER 2011

    C.Descriptive Statistics

    T 2 p , p 13 p w E (f ) p 19 p. N ( 3) y w E. A E

    y y p , w ,

    W p p y F. W k 13 p

    p. N, w E

    y p yp

    p F p w Gy py ( y) z P.

    T f x w T 2 z x p

    ; p F 2A 2B. W w z

    p p 1789. I, 1750 z y

    p w w p ; , z y

    w y p w E .11 I

    , w, z w py p

    1800. W E, xp, y 1900 z 8 p

    11T p , z R, Wp, Bwk, B, S 1700.

    Table 2Descriptive Statistics

    W E W p

    A C T C A(1) (2) (3) (4) (5)

    Uz 1700 5.86 5.49 6.35 7.40 7.08

    [4.22] [2.89] [5.93] [5.75] [5.61]

    Uz 1750 7.89 7.66 8.09 8.90 8.59[4.12] [4.19] [4.4] [4.91] [4.61]

    Uz 1800 10.23 8.45 11.75 10.22 10.81[4.37] [3.47] [4.71] [5.16] [4.92]

    Uz 1850 13.78 12.38 14.97 14.45 14.65[6.01] [5.42] [6.65] [7.9] [7.26]

    Uz 1875 25.70 22.22 28.67 25.19 26.52

    [10.7] [9.15] [11.69] [11.2] [11.21]

    Uz 1900 39.89 35.60 43.55 38.27 40.29[13.92] [12.12] [15.2] [14.4] [14.54]

    S P 0.579 0.532 0.618 0.677 0.654[0.343] [0.385] [0.303] [0.347] [0.33]

    L 50.43 49.28 51.41 50.97 51.14[1.5] [1.15] [0.98] [2.22] [1.85]

    L 9.89 10.89 9.03 12.78 11.34

    [2.01] [2.08] [1.51] [3.49] [3.42]

    D P 592.4 631.8 558.7 808.9 712.9[146.3] [158] [128.2] [261.4] [251]

    Note: M (w y pp 1750), k.

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    10/22

    3295ACEMOGLU ET AL.: CONSEQUENCES OF RADICAL REFORMVOL. 101 NO. 7

    p p y Np. T w p- p y. T p-

    y w p ( P). T P pp w p.

    III. Reduced-Form Evidence

    I w y q (OLS) - p w

    0

    10

    20

    30

    40

    Urbanizationrate

    (inpercent)

    1700 1750 1800 1850 1900

    Year

    Treatment Control (west of the Elbe)

    Difference

    Figure 2A. Urbanization Rates, by Treatment Group

    10

    0

    10

    20

    30

    40

    Urbanizationrate(inpercent)

    1700 1750 1800 1850 1900

    Year

    Treatment Control (whole sample)

    Difference

    Figure 2B. Urbanization Rates, by Treatment Group

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    11/22

    3296 THE AMERICAN ECONOMIC REVIEW DECEMBER 2011

    z G p. T p p

    1700, 1750, 1800, 1850, 1875, 1900. O -

    w:

    (1) ujt = dt + j +

    pre

    d Ij+ post

    d Ij+ Xjt + jt,

    w ujt z py j t, dt , j py fx , Xjt , w w k, jt . T ky Ij, wp y F p. T f

    {t}pre {t}tpost, w pre y post

    y , w w k p

    p-F R (

    d Ij p ). U yp F pw y x, w xp f {t}tpre -fy z, F w f

    - w, {t}tpost p.T pp, , y/

    py w y - x p p

    ( Jy W 2002, . 7).12

    A.Main Results

    W 1 T 3 w p, W E. W

    pp 1750 w, f

    z p p.13

    T post

    y 1850,1875, 1900, prep 1750 1800, w 1700 y. I - 1 w 1750= 0.491 1800= 0.247, w y F p w w w wy -

    y, w 1800. 1850= 0.160w 0.250, y 1850 w ( ) y F p w z. By 1875, w,

    p w y F p z,

    y 1900, : f 1900 q 0.634.T p p 12 p p w 19

    y F p, w p ppxy -

    y .14 E

    12T H-W y/py .

    13T pp z 1750 w 200,000 (Bwk, Mk) (R, S, H, B). Uw y z p w p 5,000 z ;w p y w p, w ky j . N, w kw, x pf p, w p w wpf.

    14O T 3 y (13/19 p), p-y yp ppx y . A y, w w p p

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    12/22

    3297ACEMOGLU ET AL.: CONSEQUENCES OF RADICAL REFORMVOL. 101 NO. 7

    f 1875 1900 y f, p- F- j f p- y (1850, 1875, 1900) w p- y jy y

    p-1850 ( 5 p f).15

    C 2 p y w pp w. T

    qy , wk: p , -f y 1875 1900 jy f y.

    I E w ,

    3 4, , w

    w . I 3, f y

    p 1. T F- j f

    p y w j 2 p.

    W y y 1880, 1885, 1895,

    1905, 1910 12 19 p. Rp

    p y, w y

    W E p w p, xp F- w

    wy j yp p y 1 p pf ( p q).

    ( t- w yp p) y A. C C, J B. G D L. M (2008), p f 10,000 p. T p y f T 3. R w y f pp t-, w w y p y p. F xp, 1 p- 1900 y 0.146 0.285,w 2 p- 1900 0.212 0.115. S ppy T 3, 4, 6.

    15T F- yp w y p F , pp t-, w yp y p pf y.

    Table 3Urbanization in Germany

    Dp : z

    W E A

    W Uw W Uw

    (1) (2) (3) (4)

    Y F p 1750 0.491 0.252 0.488 0.197[0.249] [0.172] [0.235] [0.164]

    Y F p 1800 0.247 0.0425 0.268 0.0471[0.225] [0.153] [0.227] [0.178]

    Y F p 1850 0.160 0.0332 0.221 0.0235[0.250] [0.153] [0.249] [0.181]

    Y F p 1875 0.402 0.354 0.266 0.252[0.326] [0.295] [0.303] [0.299]

    Y F p 1900 0.634 0.529 0.503 0.506[0.408] [0.401] [0.376] [0.423]

    O 74 74 109 109

    N 13 13 19 19

    p- j f 1800 0.0532 0.463 0.0205 0.214

    Notes: A y y . R y y.W w y pp 1750.

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    13/22

    3298 THE AMERICAN ECONOMIC REVIEW DECEMBER 2011

    O, w F p

    G p. O y, , py j f-

    p- y, p p y

    F xp p z, py 1850. T

    p. F w p y p y -

    w, q xp p (, , B 1983, B 1986).16 T, - p F y w . B -

    p R-p . T p

    yp j w -

    p y. T

    I R, w k p C

    Ep y.17 O p

    y w yp.

    B.Robustness

    T 4 - . I 1,

    w p -p R (p Cy Mk), p w - y. T y

    .

    C 26 w y -

    - y

    p p. I 2, xp, w w

    y pp P

    (.., D Protestantj). C 3 y - w k w -y py. I ,

    ( w , jy f 5 10 p).

    M py, 4 5 y w

    w P. S w

    P ky p y F ,

    p k w x y F p

    w p w

    y . Ry, p 1875 1900

    w py . T w P jy f 10 p

    16T p z p - F w, wk pp wk(A . 2009) p -y w- w M GDP p p.

    17T Sy L. E K L. Sk (1997) A,J, R (2002) w , w k pw 1500 1800, p y. D L (1969 . 45) p w -p Ep k p y w xp -q y x , p wy , p, y.

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    14/22

    3299ACEMOGLU ET AL.: CONSEQUENCES OF RADICAL REFORMVOL. 101 NO. 7

    , y p ( f p

    w z w ).C 6 py w G p- y y , w

    w z w 1792 1815. S p,

    W R,

    z . T p , w

    w py p

    p-1800 y . I 6, ( p p) jy f . I y , p F p y .

    T p p 1750 1800 p -

    - y w p,py . T w

    k , 7 w w

    z uj,1750(1750 f w p z f p) y . T x ( ) wy y px . N,

    x pf . F xp, 1900 w 0.650( 0.362) w z y y jy f. C 8 xpy

    p - k

    Table 4Urbanization in Germany, Controls

    Dp : Uz w E

    WMk/R P L L

    D

    P

    N

    I-z

    A-BGMM

    (1) (2) (3) (4) (5) (6) (7) (8)Y F p 0.565 0.547 0.600 0.435 0.446 0.531 0.458 1750 [0.281] [0.308] [0.356] [0.244] [0.278] [0.294] [0.267]

    Y F p 0.324 0.336 0.356 0.256 0.244 0.288 0.209 0.0520 1800 [0.249] [0.295] [0.324] [0.215] [0.248] [0.264] [0.245] [0.126]

    Y F p 0.235 0.229 0.261 0.0182 0.0269 0.114 0.136 0.372 1850 [0.275] [0.310] [0.356] [0.210] [0.242] [0.257] [0.261] [0.379]

    Y F p 0.324 0.353 0.292 0.623 0.561 0.374 0.418

    1875 [0.324] [0.312] [0.374] [0.250] [0.271] [0.305] [0.284]

    Y F p 0.552 0.573 0.512 0.893 0.836 0.656 0.650 1.249

    1900 [0.411] [0.370] [0.451] [0.321] [0.325] [0.382] [0.363] [0.713]

    L z 0.955[1.345]

    O 68 74 74 74 74 74 74 35

    N 12 13 13 13 13 13 13 13

    p- jf 1800

    0.128 0.0705 0.176 0.0791 0.0625 0.0959 0.109 0.0312

    p- jf

    0.0217 0.414 0.0222 0.0815 0.0267 0.123

    Notes: A y y . R y y. A w y pp 1750. C 26 (P, , -, P, py , z 1750) w .

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    15/22

    3300 THE AMERICAN ECONOMIC REVIEW DECEMBER 2011

    . T y, Gz

    M M (GMM) y y M A Sp R.B (1991). W p 1875 p w q . T y OLS ; p

    f. A wy pf w f

    px qy p y F.

    W f p y.

    C.Additional Outcome Variables

    I p z

    , T 5 w p p py-

    . D 64 Gy

    y 1849, 1882, 1895, 1907. T

    k z ,

    y p

    . T , 1849, w

    k p p 1800. G k

    1800, w py p - :

    (2) yjt = dt + t Ij + jt,

    t. Hyjt ( -y/) j t, dtw y-pf ,Ij p y F p j, jt , t f . I p, t p - w F .

    T T 5 w , w E w -

    p, w y py

    Table 5Occupational Shares in Germany

    Dp : pppy

    Dp : pppy y

    W E A W E A

    W Uw W W Uw W

    (1) (2) (3) (4) (5) (6)

    Y F p, 0.430 0.411 0.508 0.055 0.061 0.3741849 [0.468] [0.460] [0.346] [0.376] [0.342] [0.369]

    Y F p, 0.450 0.486 0.585 0.420 0.386 0.5941882 [0.285] [0.244] [0.253] [0.256] [0.240] [0.267]

    Y F p, 0.570 0.601 0.658 0.472 0.449 0.6401895 [0.266] [0.242] [0.182] [0.248] [0.231] [0.222]

    Y F p, 0.554 0.585 0.724 0.350 0.321 0.5701907 [0.281] [0.264] [0.237] [0.284] [0.251] [0.237]

    Notes: E p - . D . R . A w y pp 1849. N (-/w E): 39/23 (1849), 62/44 ( y).

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    16/22

    3301ACEMOGLU ET AL.: CONSEQUENCES OF RADICAL REFORMVOL. 101 NO. 7

    p y F y 1849, y -

    f. Ty y f y 1882

    1908. T p

    z , w p z

    w f F p .

    IV. Institutional Reforms and Economic Growth

    I , w f w

    G p p w F p ( ) , f k w F - w . W p

    f w- q (2SLS) y, w w x w y.

    T 2SLS y . F, w p

    k w w y. S,

    - f p p,

    B p P E, w

    , p p z p

    F Ep. T 2SLS w

    y p. T, y w f

    w w j yp F

    p wk py y .

    A. French Occupation and Institutional Reorms

    T 1 F 1 p x -p w y F p. T

    z p w x F p

    y wy f 2SLS y, w

    p w p q:

    (3) Rjt = dt + j + t Tt>1800 Ij + jt,

    wRjt x pyj t; dt j py fx ; ,Ij , y F

    p, jt . T Tt>1800 y p-1800 (1850, 1875, 1900), t Tt>1800 1800 ( q 0 ).18 Iy, p py F p,

    x w . T p

    Gy, w F p , y

    1800, p Gy.

    18T py p f, t y 1,000.

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    17/22

    3302 THE AMERICAN ECONOMIC REVIEW DECEMBER 2011

    E q (3) w p B T 6. T f ,

    p w E pp 1750 w, w p w F p x.

    T f 1.166 ( = 0.107). T p w G p y

    F (pp z), p y Fw f . C 2 p F p

    t Tt>1800 Ijw y (1850 ) w y F p p p- j f- . T pf pp yp

    k w F p (p- = 0.000).Fy, 35 f y k pf w pp-

    w w Gy E p. T f y .

    B. Two-Stage Least Squares Estimates

    W x 2SLS x z-

    . W p w - q:

    (4) ujt = dt + j + Rjt + jt,

    Table 6Urbanization in Germany, Impact of Reforms

    Dp : z

    W E A

    WW,

    Uw W Uw

    (1) (2) (3) (4) (5)

    Panel A. OLS estimationR x 0.281 0.281 0.220 0.268 0.191

    [0.114] [0.114] [0.122] [0.110] [0.105]

    Panel B. First stage

    F p p1800 1.166 1.116 1.006 0.960 [0.107] [0.143] [0.108] [0.145]

    F- x 119.7 121.6 61.85 87.57 43.71

    p- F- 0.000 0.000 0.000 0.000 0.000

    Panel C. 2SLS estimation

    R x 0.291 0.321 0.204 0.284 0.193

    [0.102] [0.112] [0.124] [0.112] [0.143]

    O 74 74 69 109 109

    N 13 13 12 19 19

    p- f 0.328

    Notes: A y y . R y y.W w y pp 1750. T f 2 Y F p y x .

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    18/22

    3303ACEMOGLU ET AL.: CONSEQUENCES OF RADICAL REFORMVOL. 101 NO. 7

    w ujt z, dt j py fx .T (4) (3) f- p w

    T 6. P A w OLS p p. I OLS,

    p f w x z

    pf p T 6.

    P B p 2SLS (4). F p, 1 w = 0.290 ( = 0.102), w y f.Iy, f OLS , w

    ky p OLS

    . T f , w

    w pw . T y p

    w , pp p F , p

    ww . T OLS f j -

    (ww) , x w , py, x y pxy

    k .

    C 2 p, w

    p-1800 (.., post

    d Ij q(1), w post 1850, 1875, 1900) . T y f , , w -

    , w p f

    jy . Ey, j

    f . Ey, w w

    j yp p-1800 w F

    p wk py y x ( F p). T p f-

    , w H-W - x w , p k

    yp. Tp- f (F-) p w w y j - yp. T

    pp p F p p z

    G p y y

    p.

    C 3 1, w w -

    . T 2SLS w , 0.204, w ,

    f y 10 p. I 4 5, w p

    E, 2SLS f y p

    1 3.O y w p

    p y F f

    p wy p p, py

    y.

    V. Concluding Remarks

    T F R 1789 px p ,

    , . T p p

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    19/22

    3304 THE AMERICAN ECONOMIC REVIEW DECEMBER 2011

    F : F y , Np,

    p Ep, Gy, w y k

    y p, , F.

    Hw, w xp p -

    . T p - q F

    R, p q- xp.

    W f w F p xp

    p p. O y, p p

    w px y z w

    y F R, py 1850. W

    p py -

    F p w ky

    R. T f y y p

    pp p F R, py

    p q .

    S xy p -

    . T F R xp -,

    . I , f pp y

    p p. M p,

    w w xy p, , B

    B y . O y, pp

    yp ancienrgime, p

    , , k qy w,

    p ppy,

    p wy z w.

    Ny, f p w -. F, w p y p

    y F R y , p

    f y pf. S, y w

    . T, p wy

    xp .19 N, wy f -

    - f q,

    x. T , , q: wy

    y wk w xy p ? O py

    w w ypy .20

    T F y y wk pw-

    , k q y p. Ew p pw 1815, w p

    p q. T p F

    w pw xp Gy Jp

    19M, p F p - w, w y w w y w p y , y - -, , py, F p j .

    20S A R (2008) w p.

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    20/22

    3305ACEMOGLU ET AL.: CONSEQUENCES OF RADICAL REFORMVOL. 101 NO. 7

    w y , xp.21 N, w

    p y p

    F R, w w

    w w xy p

    p

    p wk.

    REFERENCES

    Acemoglu, Daron. 2008. O D S.Journal o the European EconomicAssociation, 6(1): 144.

    Acemoglu, Daron, and James A. Robinson. 2008. P Pw, E, I.American Economic Review, 98(1): 26793.

    Acemoglu, Daron, Simon Johnson, and James A. Robinson. 2002. R F: Gpy I Mk M W I D. Quarterly Journal oEconomics, 117(4): 123194.

    Acemoglu, Daron, Davide Cantoni, Simon Johnson, and James A. Robinson. 2009. T C-

    q R R: T F R. N B E RWk Pp 14831.

    Acemoglu, Daron, Davide Cantoni, Simon Johnson, and James Alan Robinson. 2011. T C-q R R: T F R: D.American Economic Review. p://www.w./.pp?=10.1257/.101.7.3286.

    21O p w (.., Lw E. H S P. H 2000; AG 2006; G T 2010). I x, y p F G p w , .

    Data Description

    V DpS

    D P G y p Pw, .

    L L y pWkp.

    L L y pWkp.

    N py N Hy R Ep ( Ep) x p FRy Ep

    Reichsdeputationshauptschluss Appx C.S S pp ( p) w py py

    Fk(1994)

    S y S pp ( p) w py py Fk(1994)

    S P Appx pp P (L/C) 1800w pj, y . C. Appx B.

    Uz P pp 5,000 Appx B.

    Y F p Y p F p y F-ppG (2003).

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    21/22

    3306 THE AMERICAN ECONOMIC REVIEW DECEMBER 2011

    Arellano, Manuel, and Stephen Bond. 1991. S T Spf P D: M CE App Epy Eq. Rw E S, 58(2): 27797.

    Bairoch, Paul. 1988. Cities and Economic Development: From the Dawn o History to the Present.T y Cp B. C: Uy C P.

    Bairoch, Paul, Jean Batou, and Pierre Chevre. 1988. T Pp Ep C, 8001850:D Bk S Sy R. G: L Dz.

    Berkowitz, Daniel, Katharina Pistor, and Jean-Francois Richard. 2003. E Dp,Ly, Tp E. Ep E Rw, 47(1): 16595.

    Berkowitz, Daniel, Katharina Pistor, and Jean-Francois Richard. 2003. T Tp E.A J Cp Lw, 51(1): 163203.

    Blanning, Timothy C. W. 1983. The French Revolution in Germany: Occupation and Resistance in theRhineland, 17921802. Ox: Ox Uy P.

    Blanning, Timothy C. W. 1986. The Origins o the French Revolutionary Wars. L: L.Blanning, Timothy C. W. 1996. The French Revolutionary Wars, 17871802. Nw Yk: S. M

    P.Blum, Jerome. 1978. The End o the Old Order in Rural Europe. P, NJ: P Uy

    P.Cameron, A. Colin, Jonah B. Gelbach, and Douglas L. Miller. 2008. Bp-B Ip

    I w C E. Rw E S, 90(3): 41427.Connelly, Owen. 1965.Napoleons Satellite Kingdoms.Nw Yk: F P.de Vries, Jan. 1984.European Urbanization, 15001800. C, MA: H Uy P.Diefendorf, Jeffry. 1980.Businessmen and Politics in the Rhineland, 17891834.P, NJ: P-

    Uy P.Doyle, William. 1989. The Oxord History o the French Revolution. Ox: Ox Uy P.Ellis, Geoffrey. 2003. The Napoleonic Empire. Nw Yk: P M.Engerman, Stanley L., and Kenneth L. Sokoloff. 1997. F Ew, I, D-

    P Gw Nw W E: A Vw E H U S. I Hw L A F : Ey E H Bz Mx, 18001914, . Sp H, 260304. S, CA: S Uy P.

    Epstein, Stephan R. 1998. C G, Appp, T C PEp. J E Hy, 58(3): 684713.

    Esdaile, Charles J. 1996. The Wars o Napoleon. Nw Yk: L.Esdaile, Charles J. 2001. The French Wars, 17921815. Nw Yk: R.Fisher, Herbert A. L. 1903. Studies in Napoleonic Statesmanship: Germany.Ox: C P.Frank, Harald.

    1994. Regionale Entwicklungsdisparitten im Deutschen Industrialisierungsprozess18491939: Eine Empirisch-analytische Untersuchung.M: L.Gates, David. 1997. The Napoleonic Wars, 18031815. Nw Yk: Ew A P.Grab, Alexander. 2003.Napoleon and the Transormation o Europe. Nw Yk: P M.Greif, Avner. 2006.Institutions and the Path to the Modern Economy: Lessons rom Medieval Trade.

    C: C Uy P.Harrison, Lawrence E., and Samuel P. Huntington. 2000. Culture Matters. Nw Yk: B Bk.Hayek, Friedrich. 1960. The Constitution o Liberty. C: C Uy P.Kisch, Herbert. 1989. From Domestic Manuacture to Industrial Revolution: The Case o the Rhine-

    land Textile Districts. Ox: Ox Uy P.Landes, David. 1969. The Unbound Prometheus. C: C Uy P.La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer, and Robert W. Vishny. 1998. Lw

    F. J P Ey, 106(6): 111355.Lindberg, Erik. 2009. C G If I: Wy Dz Lk F

    Ey M P. E Hy Rw, 62(3): 60428.Lyons, Martyn. 1994.Napoleon Bonaparte and the Legacy o the French Revolution. Nw Yk: S.M P.

    Mokyr, Joel. 2003. I R. I Ox Eyp E Hy, . JMky. Ox: Ox Uy P.

    Ogilvie, Sheilagh. 2004. G, Efy, S Cp: E G P--y. E Hy Rw, 57(2): 286333.

    Ogilvie, Sheilagh. 2007. C W R G? A Sp R-App. Uy C Wk Pp E 2007.

    Olson, Mancur. 1982. The Rise and Decline o Nations: Economic Growth, Stagfation, and SocialRigidities. Nw H, CT: Y Uy P.

    Palmer, Robert R. 1959. The Age o Democratic Revolution. Vol. I: The Challenge. P, NJ:P Uy P.

  • 7/30/2019 The Consequences of Radical Reform - The French Re

    22/22

    3307ACEMOGLU ET AL.: CONSEQUENCES OF RADICAL REFORMVOL. 101 NO. 7

    Palmer, Robert R. 1964. The Age o Democratic Revolution. Vol. II: The Struggle.P, NJ: P- Uy P.

    Rodrik, Dani. 2007. One Economics, Many Recipes: Globalization, Institutions, and EconomicGrowth. P, NJ: P Uy P.

    Rud, Georges. 1988. The French Revolution: I C, I Hy I Ly A 200 Y.Nw Yk: G P.

    Tabellini, Guido. 2010. C I: E Dp R Ep.J Ep E A, 8(4): 677716.

    Wooldridge, Jeffrey. 2002. E Ay C S P D. C, MA:MIT P.

    Woolf, Stuart. 1991.Napoleons Integration o Europe.Nw Yk: R.