The role of implicit contracts

This article studies financial schemes for building public works in the 1840s. The study of the Portuguese case clearly illustrates the importance of implicit contracts with governments in peripheral Europe, shedding light on solutions for financing the provision of public goods. Building roads and railways seems to have been the fruit of an implicit contract behind the tobacco monopoly in a country involved in social turmoil and civil wars. Reputation effects are called to explain the relevant range of the partners' negotiations, to reject the traditional historiography based on wrong management and speculation in a period of savage capitalism

Business · Capitalism · Economics · Historiography · Market economy · Monopoly · Negotiation · Political economy · Political science · Politics · Reputation · Speculation · Finance · Fiscal Policy and Economic Growth · Historical Economic and Social Studies · Law · Local Government Finance and Decentralization

• The Economics of Contracts

  Open Access•Eric Brousseau, Jean-Michel Glachant•Economics of Contracts•2002

  Incluir item

• Understanding Psychological Contracts at Work

  Neil Conway, Rob B Briner•Understanding psychological…•2005

  Incluir item

• Globalization and History

  Kevin H O''Rourke, Kevin H O'Rourke et al.•Globalization and History•1999

  Incluir item

• The failure of market failure

  Open Access•Richard O Zerbe, Howard E Mccurdy•Journal of Policy Analysis and…•1999

  Incluir item

• Financing Public Goods and Residential Location

  Open Access•Colin Wright•Urban Studies•1977

  Incluir item

• Financing Public Goods

  Russell D Roberts•Journal of Political Economy•1987

  Incluir item

• Pearson and Public Works Construction in Mexico,1890–1910

  Priscilla Connolly•Business History•1999

  Incluir item

• Objectionable Parasites’

  David Sunderland•Business History•1999

  Incluir item