IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth

  • Daron Acemoglu
  • Simon Johnson
  • James Robinson

The rise of Western Europe after 1500 is due largely to growth in countries with access to the Atlantic Ocean and with substantial trade with the New World, Africa, and Asia via the Atlantic. This trade and the associated colonialism affected Europe not only directly, but also indirectly by inducing institutional change. Where "initial" political institutions (those established before 1500) placed significant checks on the monarchy, the growth of Atlantic trade strengthened merchant groups by constraining the power of the monarchy, and helped merchants obtain changes in institutions to protect property rights. These changes were central to subsequent economic growth.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.aeaweb.org/articles.php?doi=10.1257/0002828054201305
Download Restriction: no

File URL: http://www.aeaweb.org/aer/data/june05_data_acemoglu.zip
Download Restriction: Access to full text is restricted to AEA members and institutional subscribers.

Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 95 (2005)
Issue (Month): 3 (June)
Pages: 546-579

as
in new window

Handle: RePEc:aea:aecrev:v:95:y:2005:i:3:p:546-579
Note: DOI: 10.1257/0002828054201305
Contact details of provider: Web page: https://www.aeaweb.org/aer/
Email:


More information through EDIRC

Order Information: Web: https://www.aeaweb.org/subscribe.html

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Raghuram G. Rajan & Luigi Zingales, 1995. "The Tyranny of Inequality," NBER Working Papers 5396, National Bureau of Economic Research, Inc.
  2. Rapp, Richard T., 1975. "The Unmaking of the Mediterranean Trade Hegemony: International Trade Rivalry and the Commercial Revolution," The Journal of Economic History, Cambridge University Press, vol. 35(03), pages 499-525, September.
  3. Inikori, J. E., 1981. "Market Structure and the Profits of the British African Trade in the Late Eighteenth Century," The Journal of Economic History, Cambridge University Press, vol. 41(04), pages 745-776, December.
  4. Stephen L. Parente & Edward C. Prescott, 1997. "Monopoly rights: a barrier to riches," Staff Report 236, Federal Reserve Bank of Minneapolis.
  5. Ralph Davis, 1956. "Merchant Shipping In The Economy Of The Late Seventeenth Century," Economic History Review, Economic History Society, vol. 9(1), pages 59-73, 08.
  6. Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal Of Fortune: Geography And Institutions In The Making Of The Modern World Income Distribution," The Quarterly Journal of Economics, MIT Press, vol. 117(4), pages 1231-1294, November.
  7. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert Vishny, 1998. "The Quality of Goverment," NBER Working Papers 6727, National Bureau of Economic Research, Inc.
  8. Kevin H. O'Rourke & Jeffrey G. Williamson, 2001. "After Columbus: Explaining the Global Trade Boom 1500-1800," NBER Working Papers 8186, National Bureau of Economic Research, Inc.
  9. Grassby,Richard, 1995. "The Business Community of Seventeenth-Century England," Cambridge Books, Cambridge University Press, number 9780521434508.
  10. Krusell, P. & Rios-Rull, J.V., 1993. "Vested Interests in a Positive Theory of Stagnation and Growth," Papers 547, Stockholm - International Economic Studies.
  11. Acemoglu, Daron & Johnson, Simon H. & Robinson, James A., 2003. "The Rise of Europe: Atlantic Trade, Institutioanl Change and Economic Growth," Working papers 4269-02, Massachusetts Institute of Technology (MIT), Sloan School of Management.
  12. De Long, J. Bradford & Shleifer, Andrei, 1993. "Princes and Merchants: European City Growth before the Industrial Revolution," Scholarly Articles 3451302, Harvard University Department of Economics.
  13. Antonio Ciccone & Kiminori Matsuyama, 1999. "Efficiency and Equilibrium with Dynamic Increasing Aggregate Returns Due to Demand Complementarities," Econometrica, Econometric Society, vol. 67(3), pages 499-526, May.
  14. de Vries,Jan & van der Woude,Ad, 1997. "The First Modern Economy," Cambridge Books, Cambridge University Press, number 9780521570619.
  15. Zilibotti, Fabrizio, 1995. "A Rostovian model of endogenous growth and underdevelopment traps," European Economic Review, Elsevier, vol. 39(8), pages 1569-1602, October.
  16. Daron Acemoglu & James A. Robinson, 2002. "Economic Backwardness in Political Perspective," NBER Working Papers 8831, National Bureau of Economic Research, Inc.
  17. Neal, Larry, 2000. "How it all began: the monetary and financial architecture of Europe during the first global capital markets, 1648 1815," Financial History Review, Cambridge University Press, vol. 7(02), pages 117-140, October.
  18. Henry Kamen, 1964. "The Decline of Castile: the last Crisis," Economic History Review, Economic History Society, vol. 17(1), pages 63-76, 08.
  19. Inikori, J. E., 1985. "Market Structure and Profits: A Further Rejoinder," The Journal of Economic History, Cambridge University Press, vol. 45(03), pages 708-711, September.
  20. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
  21. Inikori, J. E., 1983. "Market Structure and the Profits of the British African Trade in the Late Eighteenth Century: A Rejoinder," The Journal of Economic History, Cambridge University Press, vol. 43(03), pages 723-728, September.
  22. Douglass C. North, 1968. "Sources of Productivity Change in Ocean Shipping, 1600-1850," Journal of Political Economy, University of Chicago Press, vol. 76, pages 953.
  23. Tim Leunig, 1998. "New Answers to Old Questions: Transport Costs and the Slow Adoption of Ring Spinning in Lancashire," Economics Series Working Papers 1998-W22, University of Oxford, Department of Economics.
  24. Bairoch, Paul, 1995. "Economics and World History," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226034638.
  25. Bean, Richard, 1973. "War and the Birth of the Nation State," The Journal of Economic History, Cambridge University Press, vol. 33(01), pages 203-221, March.
  26. Carlo M. Cipolla, 1952. "The Case Of A Fully Matured Economy," Economic History Review, Economic History Society, vol. 5(2), pages 178-187, December.
  27. Allen, Robert C., 2001. "The Great Divergence in European Wages and Prices from the Middle Ages to the First World War," Explorations in Economic History, Elsevier, vol. 38(4), pages 411-447, October.
  28. James A. Robinson & Daron Acemoglu, 2000. "Political Losers as a Barrier to Economic Development," American Economic Review, American Economic Association, vol. 90(2), pages 126-130, May.
  29. North, Douglass C. & Weingast, Barry R., 1989. "Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England," The Journal of Economic History, Cambridge University Press, vol. 49(04), pages 803-832, December.
  30. Curtin,Philip D., 1984. "Cross-Cultural Trade in World History," Cambridge Books, Cambridge University Press, number 9780521269315.
  31. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  32. Patrick O'Brien, 1982. "European Economic Development: The Contribution of the Periphery," Economic History Review, Economic History Society, vol. 35(1), pages 1-18, 02.
  33. Henry Kamen, 1965. "Confiscations in the Economy of the Spanish Inquisition," Economic History Review, Economic History Society, vol. 18(3), pages 511-525, December.
  34. R. G. Lang, 1974. "Social Origins and Social Aspirations of Jacobean London Merchants," Economic History Review, Economic History Society, vol. 27(1), pages 28-47, 02.
  35. Tim Leunig, 1998. "New Answers to Old Questions: Transport Costs and the Slow Adoption of Ring Spinning in Lancashire," Oxford University Economic and Social History Series _022, Economics Group, Nuffield College, University of Oxford.
  36. Galor, Oded & Mountford, Andrew, 2002. "Why are a Third of People Indian and Chinese? Trade, Industrialization and Demographic Transition," CEPR Discussion Papers 3136, C.E.P.R. Discussion Papers.
Full references (including those not matched with items on IDEAS)

This item is featured on the following reading lists or Wikipedia pages:

  1. The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth (AER 2005) in ReplicationWiki

When requesting a correction, please mention this item's handle: RePEc:aea:aecrev:v:95:y:2005:i:3:p:546-579. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jane Voros)

or (Michael P. Albert)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.