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Insider Lending: Banks, Personal Connections, and Economic Development in Industrial New England
Acknowledgements Introduction 1. Vehicles for accumulating capital 2. Insider lending and Jacksonian hostility towards banks 3. Engines of economic development 4. The decline of insider lending andExpand
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Historical Financing of Small- and Medium-Sized Enterprises
We focus on the economies of the North Atlantic Core during the 19th and early 20th centuries and find that an impressive variety of local financial institutions emerged to supply the needs of SMEsExpand
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Inventors, Firms, and the Market for Technology in the Late Nineteenth and Early Twentieth Centuries
Recent scholarly literature explains the spread of in-house research labs during the early 20th century by pointing to the information problems involved in contracting for technology. We argue thatExpand
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Intermediaries in the U.S. Market for Technology, 1870-1920
We argue that the emergence of a well-developed market for patented technologies over the late nineteenth and early twentieth centuries facilitated the emergence of a group of highly specialized andExpand
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Market Trade in Patents and the Rise of a Class of Specialized Inventors in the 19th-Century United States
It has long been recognized that one of the original aims of the U.S. patent system was to stimulate technological development by granting inventors temporary monopoly rights to their discoveries.Expand
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Legal Regime and Contractual Flexibility: A Comparison of Business’s Organizational Choices in France and the United States during the Era of Industrialization
We compare the law governing business organizational forms in France and the United States during the nineteenth century and find that, contrary to the conventional wisdom, the contractingExpand
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Long-term change in the organization of inventive activity.
Relying on a quantitative analysis of the patenting and assignment behavior of inventors, we highlight the evolution of institutions that encouraged trade in technology and a growing division ofExpand
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Scylla or Charybdis? Historical Reflections on Two Basic Problems of Corporate Governance
Shareholders in corporations face two very different types of governance problems: expropriation by controlling shareholders or managers; and expropriation by greedy rulers or, more generally, by theExpand
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