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Capitalising on the Irish Land Question:Land Reform and State Banking in Ireland, 1891-1938

Author

Listed:
  • Nathan Foley-Fisher

    (Research and Statistics Division, Federal Reserve Board, Washington, D.C., USA)

  • Eoin McLaughlin

    (Department of Geography and Sustainable Development, University of St. Andrews)

Abstract

Land reform and its financial arrangements are central elements of modern Irish history. Yet to date, the financial mechanisms underpinning Irish land reform have been overlooked. The paper outlines the mechanisms of land reform in Ireland and the importance of land bonds to the process. The paper introduces a new database on Irish land bonds listed on the Dublin Stock Exchange from 1891 to 1938. It illustrates the nature of these b onds and presents data on their size, liquidity and market returns. The paper finds a high level of state banking in Ireland: large issues of land bonds were held by state owned savings banks.

Suggested Citation

  • Nathan Foley-Fisher & Eoin McLaughlin, 2015. "Capitalising on the Irish Land Question:Land Reform and State Banking in Ireland, 1891-1938," Discussion Papers in Environment and Development Economics 2015-03, University of St. Andrews, School of Geography and Sustainable Development.
    • Handle: RePEc:sss:wpaper:2015-03
    as

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    File URL: http://www.st-andrews.ac.uk/media/dept-of-geography-and-sustainable-development/pdf-s/DP%202015%2003%20Foley-Fisher%20&%20McLaughlin.pdf
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    References listed on IDEAS

    as
    1. Dietrich Vollrath, 2007. "Land Distribution and International Agricultural Productivity," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(1), pages 202-216.
    2. repec:wbk:wbpubs:15125 is not listed on IDEAS
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    8. Michael Bordo & Michael Edelstein, 1999. "Was Adherence to the Gold Standard a "Good Housekeeping Seal of Approval" During the Interwar Period?," NBER Working Papers 7186, National Bureau of Economic Research, Inc.
    9. Hickson, Charles R. & Turner, John D., 2008. "Pre- and post-famine indices of Irish equity prices," European Review of Economic History, Cambridge University Press, vol. 12(1), pages 3-38, April.
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    12. Oded Galor & Omer Moav & Dietrich Vollrath, 2009. "Inequality in Landownership, the Emergence of Human-Capital Promoting Institutions, and the Great Divergence," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 76(1), pages 143-179.
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    Cited by:

    1. Foley-Fisher, Nathan & McLaughlin, Eoin, 2016. "Sovereign debt guarantees and default: Lessons from the UK and Ireland, 1920–1938," European Economic Review, Elsevier, vol. 87(C), pages 272-286.

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    More about this item

    Keywords

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    JEL classification:

    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
    • N53 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Europe: Pre-1913
    • N54 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Europe: 1913-
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment

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