| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12182 |
| DP12182 The Rise of New Corruption: British MPs during the Railway Mania of 1845 | |
| Rui Ferreira da Costa Esteves; Gabriel Geisler Mesevage | |
| 发表日期 | 2017-07-25 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | In the 1840s, speculation in railway shares in the UK prompted the creation of hundreds of new railway companies. Each company needed to petition Parliament for the approval of new railway routes. In this paper, we investigate whether parliamentary regulation of the new railway network was distorted by politicians' vested interests. Drawing on methods from peer-effects analysis, we identify situations where MPs could have traded votes with specific colleagues in order to get their preferred projects approved (logrolling). We confirm that logrolling was both prevalent and significant. Our estimates suggest that at least a quarter of approved lines received their bills because of logrolling. Companies approved through logrolling also underperformed in the stock market during the railway bubble and after its final crash in 1847. |
| 主题 | Economic History ; Public Economics |
| 关键词 | Voting Networks Rent-seeking Railways |
| URL | https://cepr.org/publications/dp12182 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540993 |
| 推荐引用方式 GB/T 7714 | Rui Ferreira da Costa Esteves,Gabriel Geisler Mesevage. DP12182 The Rise of New Corruption: British MPs during the Railway Mania of 1845. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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