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Historical European Institutions,Human Capital and Development

Author

Listed:
  • Tiago Sequeira

    (University of Coimbra, Centre for Business and Economics Research, CeBER andFaculty of Economics)

  • Daniel Murta

    (University of Coimbra, Centre for Business and Economics,CeBER, Faculty of Economics)

  • Marcelo Serra Santos

    (CeBER)

Abstract

The literature on development has pointed out some deeply-rooted determinants of current economic development. Most research on the field has been devoted to developing countries or specific to single countries. We focus on deeply-rooted determinants of development of European regions, in particular on the influence of human capital. Following an identification strategy using instrumental variables, we approach the historical links between current human capital and the presence of universities and trade guilds in medieval times. We show that human capital is an important determinant of income disparities across European regions, and that trade guilds and universities at 1500 are good instruments to track the exogenous influence of the current levels of human capital. This finding shows robustness to several econometric specifications.

Suggested Citation

  • Tiago Sequeira & Daniel Murta & Marcelo Serra Santos, 2020. "Historical European Institutions,Human Capital and Development," CeBER Working Papers 2020-11, Centre for Business and Economics Research (CeBER), University of Coimbra.
    • Handle: RePEc:gmf:papers:2020-11
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    More about this item

    Keywords

    Development; regions; historical determinants of development.;
    All these keywords.

    JEL classification:

    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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