Leandro Prados

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Recent trends in the globalization of markets have refocused attention on the evolution of international capital mobility over the long run. This paper examines capital mobility using time-series analysis of current-account dynamics for fifteen countries since circa 1850. The results present a nuanced picture of capital market evolution. The inter-war(More)
Old Regime polities typically suffered from fiscal fragmentation and absolutist rule. By the start of World War I, however, many such countries had centralized institutions and limited government. This article uses a new panel data set to perform a statistical analysis of political regimes and public revenues in Europe from 1650 to 1913. Panel regressions(More)
  • Alfonso Herranz-Loncán, Antonio Gómez Mendoza, +5 authors Daniel A. Tirado
  • 2013
This article reassesses the economic impact of Spanish railroads in 1850-1913, which has been usually considered to be substantially higher than in the most developed countries on the basis of the social saving methodology. The application of growth accounting techniques shows, by contrast, that the direct contribution of railroads to economic growth was(More)
This paper presents series on top shares of income and wealth in Spain using personal income and wealth tax return statistics. Top income shares are highest in the 1930s, fall sharply during the first decade of the Franco dictatorship, then remain stable and low till the 1980s, and have increased since the mid 1990s. The top 0.01% income share in Spain(More)
Why Did the Tariff-Growth Correlation Change After 1950? This paper uses a new database to establish a key finding: high tariffs were associated with fast growth before World War II, while they have been associated with slow growth thereafter. The paper offers explanations for the sign switch by controlling for novel measures of the changing world economic(More)
The paper provides a comparative history of the economic impact of the Revolutionary and Napoleonic Wars. By focusing on the relative price evidence, it is possible to show that the conflict had major economic effects around the world. Britain’s control of the seas meant that it was much less affected than other belligerent nations, such as France and the(More)
This paper makes a contribution to the study of economic growth in developing countries by analysing the six largest Latin American economies over 105 years within a two-equation framework. Confirming previous findings, physical and human capital prove to be key determinants of GDP per capita growth. However, a more controversial result is an overall(More)
We acknowledge the superb research assistance of Martin Kanz. We are also greatly indebted to Luis Bértola, Michael Clemens, John Coatsworth, and Yael Hadass for their help in constructing the underlying data base for other projects with Williamson. We are also grateful to them and to Abstract Most countries in the periphery specialized in the export of(More)
______________________________________________________________ Real wages PPP adjusted are used to analyse labour market integration in Spain. In contrast to earlier research analysing migration and nominal wages rates, our research seems to indicate that a wellintegrated labour market had emerged in Spain by 1914 and substantial wage convergence happened(More)
Who Protected and Why? Tariffs the World Around 1870-1938 This paper uses a new database to establish a set of tariff facts that have not been well appreciated: tariff rates in Latin America were far higher than anywhere else in the century before the Great Depression; while lower than Latin America, tariffs were far higher in the European periphery and the(More)