| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15300 |
| DP15300 Shipwrecked by Rents | |
| Fernando Arteaga; Desiree Desierto; Mark Koyama | |
| 发表日期 | 2020-09-16 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The trade route between Manila and Mexico was a monopoly of the Spanish Crown for more than 250 years. The Manila Galleons were ``the richest ships in all the oceans'', but much of the wealth sank at sea and remain undiscovered. We introduce a newly constructed dataset of all of the ships that travelled this route. We show formally how monopoly rents that allowed widespread bribe-taking would have led to overloading and late ship departure, thereby increasing the probability of shipwreck. Empirically, we demonstrate not only that these late and overloaded ships were more likely to experience shipwrecks or to return to port, but that such effect is stronger for galleons carrying more valuable, higher-rent, cargo. This sheds new light on the costs of rent-seeking in European colonial empires. |
| 主题 | Economic History |
| 关键词 | Corruption Rent-seeking Bribery Shipwrecks |
| URL | https://cepr.org/publications/dp15300 |
| 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/544277 |
| 推荐引用方式 GB/T 7714 | Fernando Arteaga,Desiree Desierto,Mark Koyama. DP15300 Shipwrecked by Rents. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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