Rui Esteves
Datos Biográficos
| ID | 1044569 |
|---|---|
| NOMBRE | Rui Esteves |
| NOMBRES | Rui |
| APELLIDO | Esteves |
| FIRMA | ESTEVES R |
| AFILIACIONES | Graduate Institute of International and Development Studies |
| ORCID | 0000-0002-1966-7214 |
| VERIFICADO | Sí |
| TOTAL DE OBRAS | 9 |
| TOTAL DE CITAS | 40 |
| TOTAL COMO AUTOR | 9 |
| TOTAL COMO EDITOR | 0 |
| PRIMER AÑO DE PUBLICACIÓN | 2008 |
| AÑO MÁS RECIENTE DE PUBLICACIÓN | 2026 |
| ÍNDICE H | 5 |
The Aftermath of Sovereign Debt Crises
This paper investigates the causal effects of sovereign debt crises in a sample of 50 defaulting economies between 1870 and 2010. As default is potentially endogenous, we use the narrative approach to identify plausibly exogenous episodes. We find economically and statistically significant costs of up to 3.2 percent of GDP before recovering to the pre-crisis level after five years. The average aftermath, however, conceals a large heterogeneity by…
Missing markets. Microstructure and liquidity on the London Stock Exchange
This paper studies the behavior of specialist dealers operating in the London Stock Exchange in the 1870s. The LSE was a free-entry exclusive dealers market, where dealers were free to choose which securities to deal in. We show that dealers concentrated their market making in the most liquid securities. A combination of adverse selection and inventory costs prevented the development of liquid markets in most securities, with dealers opting inste…
Private Benefits, Public Vices
Vote trading among lawmakers (logrolling) can enable political rent-seeking but is difficult to identify. To achieve identification, we explore the rules governing voting for railway projects in the U.K. Parliament during the Railway Mania of the 1840s. Parliamentary rules barred MPs from voting directly for their interests. Even so, they could trade votes to ensure their interests prevailed. We find that logrolling was significant, accounting fo…
Social Networks in Economic History
Big push or big grab? Railways, government activism, and export growth inLatinAmerica, 1865-1913
Railways were one of the main engines of theLatinAmerican trade boom before 1914. Railway construction often required financial support from local governments, which depended on their fiscal capacity. However, since the main government revenues were trade-related, this generated a two-way feedback between government revenues and railways, with a potential for multiple equilibria. The empirical tests in this article support the hypothesis of such …
The first global emerging markets investor
A Fantastic Rain of Gold
While the pre-1914 mass migrations have been widely studied, the related pattern of emigrants' remittances is still largely untouched. This article aims at filling this gap by analyzing the contribution of remittances to financial stability. In the optimum currency area theory, labor mobility can ease the adjustment mechanism for countries under fixed exchange rate regimes. We confirm this claim by showing that emigrants' remittances reduced the …
Market Integration in the Golden Periphery. The Lisbon/London Exchange, 1854–1891
The Institutional Foundations of the International Capital Market Before 1914
An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content
The first global emerging markets investor
Big push or big grab? Railways, government activism, and export growth inLatinAmerica, 1865-1913
Railways were one of the main engines of theLatinAmerican trade boom before 1914. Railway construction often required financial support from local governments, which depended on their fiscal capacity. However, since the main government revenues were trade-related, this generated a two-way feedback between government revenues and railways, with a potential for multiple equilibria. The empirical tests in this article support the hypothesis of such …
A Fantastic Rain of Gold
While the pre-1914 mass migrations have been widely studied, the related pattern of emigrants' remittances is still largely untouched. This article aims at filling this gap by analyzing the contribution of remittances to financial stability. In the optimum currency area theory, labor mobility can ease the adjustment mechanism for countries under fixed exchange rate regimes. We confirm this claim by showing that emigrants' remittances reduced the …
Market Integration in the Golden Periphery. The Lisbon/London Exchange, 1854–1891
Social Networks in Economic History
Private Benefits, Public Vices
Vote trading among lawmakers (logrolling) can enable political rent-seeking but is difficult to identify. To achieve identification, we explore the rules governing voting for railway projects in the U.K. Parliament during the Railway Mania of the 1840s. Parliamentary rules barred MPs from voting directly for their interests. Even so, they could trade votes to ensure their interests prevailed. We find that logrolling was significant, accounting fo…
The Institutional Foundations of the International Capital Market Before 1914
An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content
A Fantastic Rain of Gold
While the pre-1914 mass migrations have been widely studied, the related pattern of emigrants' remittances is still largely untouched. This article aims at filling this gap by analyzing the contribution of remittances to financial stability. In the optimum currency area theory, labor mobility can ease the adjustment mechanism for countries under fixed exchange rate regimes. We confirm this claim by showing that emigrants' remittances reduced the …
Market Integration in the Golden Periphery. The Lisbon/London Exchange, 1854–1891
The first global emerging markets investor
Big push or big grab? Railways, government activism, and export growth inLatinAmerica, 1865-1913
Railways were one of the main engines of theLatinAmerican trade boom before 1914. Railway construction often required financial support from local governments, which depended on their fiscal capacity. However, since the main government revenues were trade-related, this generated a two-way feedback between government revenues and railways, with a potential for multiple equilibria. The empirical tests in this article support the hypothesis of such …
Social Networks in Economic History
Private Benefits, Public Vices
Vote trading among lawmakers (logrolling) can enable political rent-seeking but is difficult to identify. To achieve identification, we explore the rules governing voting for railway projects in the U.K. Parliament during the Railway Mania of the 1840s. Parliamentary rules barred MPs from voting directly for their interests. Even so, they could trade votes to ensure their interests prevailed. We find that logrolling was significant, accounting fo…
The Aftermath of Sovereign Debt Crises
This paper investigates the causal effects of sovereign debt crises in a sample of 50 defaulting economies between 1870 and 2010. As default is potentially endogenous, we use the narrative approach to identify plausibly exogenous episodes. We find economically and statistically significant costs of up to 3.2 percent of GDP before recovering to the pre-crisis level after five years. The average aftermath, however, conceals a large heterogeneity by…
Missing markets. Microstructure and liquidity on the London Stock Exchange
This paper studies the behavior of specialist dealers operating in the London Stock Exchange in the 1870s. The LSE was a free-entry exclusive dealers market, where dealers were free to choose which securities to deal in. We show that dealers concentrated their market making in the most liquid securities. A combination of adverse selection and inventory costs prevented the development of liquid markets in most securities, with dealers opting inste…
Economics (6 obras) · Global Financial Crisis and Policies (5 obras) · Political science (5 obras) · Business (4 obras) · Historical Economic and Social Studies (4 obras) · Law (4 obras) · Macroeconomics (4 obras) · Monetary economics (4 obras) · Finance (3 obras) · Finance (3 obras)