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Dan Bogart - "There Can Be No Partnership with the King": Regulatory Commitment and the Tortured Rise of England's East Indian Merchant Empire | via Brad DeLong - Equitablog
Dan Bogart, Department of Economics, UC Irvine - : “There Can Be No Partnership with the King”: Regulatory Commitment and the Tortured Rise of England’s East Indian Merchant Empire: “The English East India Company helped build Britain’s colonial empire, but the Company was not a leader in East Asian trade for nearly a century after its founding in 1600. This paper argues that its early performance was hindered by a problem of regulatory commitment. It gives a brief history of the torturous renegotiations over its monopoly trading privileges and the fiscal demands by the monarchy. It also analyzes the effects of political instability, warfare, and fiscal capacity on the Company’s investment in shipping tonnage. Regressions show the growth of shipping tonnage declined significantly when there were changes in government ministers, when Britain was at war in Europe and North America, and when shipping capacity exceeded central government tax revenues. The findings point to the significance of regulatory institutions in Britain’s development and its links with politics and war. They also provide an important case where regulatory uncertainty lowers investment.” paper dated Jan 2015 -- downloaded pdf to Note
paper  downloaded  economic_history  British_history  British_Empire  fiscal-military_state  state-building  UK_government-colonies  East_India_Company  trade-policy  trading_companies  trading_privileges  monopolies  British_Navy  17thC  institutional_capacity  regulation  monarchy-proprietary  James_I  Charles_I  Charles_II  James_II  English_Civil_War  Interregnum  taxes  political_culture  shipping  merchants  interlopers  military_history  Anglo-Dutch_wars  Glorious_Revolution  Nine_Years_War  War_of_Spanish_Succession  investment  uncertainty-regulation  uncertainty-political  British_politics  Restoration  colonialism  parties  faction  EF-add 
february 2015 by dunnettreader

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