IDEAS home Printed from https://ideas.repec.org/a/bla/ehsrev/v64y2011i4p1073-1112.html
   My bibliography  Save this article

Did the Glorious Revolution contribute to the transport revolution? Evidence from investment in roads and rivers

Author

Listed:
  • DAN BOGART

Abstract

Transport infrastructure investment increased substantially in Britain between the seventeenth and eighteenth century. This paper argues that the Glorious Revolution of 1688-89 contributed to transportation investment by reducing uncertainty about the security of improvement rights. It shows that road and river investment was low in the 1600s when several undertakers had their rights violated by major political changes or decrees from the King. It also shows that investment permanently increased after the Glorious Revolution when there was a lower likelihood that undertakers had their rights voided by acts. Together the evidence suggests that the political and institutional changes following Glorious Revolution made rights to improve infrastructure more secure and that promoters and investors responded to greater security by proposing and financing more projects.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Dan Bogart, 2011. "Did the Glorious Revolution contribute to the transport revolution? Evidence from investment in roads and rivers," Economic History Review, Economic History Society, vol. 64(4), pages 1073-1112, November.
    • Handle: RePEc:bla:ehsrev:v:64:y:2011:i:4:p:1073-1112
    DOI: j.1468-0289.2010.00580.x
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1111/j.1468-0289.2010.00580.x
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/j.1468-0289.2010.00580.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Gregory Clark, 2005. "The Condition of the Working Class in England, 1209-2004," Journal of Political Economy, University of Chicago Press, vol. 113(6), pages 1307-1340, December.
    2. Wells, John & Wills, Dougals, 2000. "Revolution, Restoration, and Debt Repudiation: The Jacobite Threat to England's Institutions and Economic Growth," The Journal of Economic History, Cambridge University Press, vol. 60(02), pages 418-441, June.
    3. Stasavage,David, 2003. "Public Debt and the Birth of the Democratic State," Cambridge Books, Cambridge University Press, number 9780521809672, September.
    4. Levy, Brian & Spiller, Pablo T, 1994. "The Institutional Foundations of Regulatory Commitment: A Comparative Analysis of Telecommunications Regulation," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 10(2), pages 201-246, October.
    5. Joel Mokyr & John V. C. Nye, 2007. "Distribution Coalitions, the Industrial Revolution, and the Origins of Economics Growth in Britain," Southern Economic Journal, John Wiley & Sons, vol. 74(1), pages 50-70, July.
    6. repec:cup:jechis:v:61:y:2002:i:03:p:593-615_03 is not listed on IDEAS
    7. Pindyck, Robert S, 1991. "Irreversibility, Uncertainty, and Investment," Journal of Economic Literature, American Economic Association, vol. 29(3), pages 1110-1148, September.
    8. Dan Bogart, 2009. "Turnpike trusts and property income: new evidence on the effects of transport improvements and legislation in eighteenth‐century England1," Economic History Review, Economic History Society, vol. 62(1), pages 128-152, February.
    9. Andrews, Donald W K, 1993. "Tests for Parameter Instability and Structural Change with Unknown Change Point," Econometrica, Econometric Society, vol. 61(4), pages 821-856, July.
    10. Bogart, Dan, 2005. "Did Turnpike Trusts Increase Transportation Investment in Eighteenth-Century England?," The Journal of Economic History, Cambridge University Press, vol. 65(2), pages 439-468, June.
    11. North, Douglass C. & Weingast, Barry R., 1989. "Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England," The Journal of Economic History, Cambridge University Press, vol. 49(4), pages 803-832, December.
    12. Clark, Gregory, 2002. "Land rental values and the agrarian economy: England and Wales, 1500–1914," European Review of Economic History, Cambridge University Press, vol. 6(3), pages 281-308, December.
    13. Leunig, Timothy, 2006. "Time is Money: A Re-Assessment of the Passenger Social Savings from Victorian British Railways," The Journal of Economic History, Cambridge University Press, vol. 66(3), pages 635-673, September.
    14. Dorian Gerhold, 1996. "Productivity change in road transport before and after turnpiking, 1690-1840," Economic History Review, Economic History Society, vol. 49(3), pages 491-515, August.
    15. Hansen, Bruce E, 1997. "Approximate Asymptotic P Values for Structural-Change Tests," Journal of Business & Economic Statistics, American Statistical Association, vol. 15(1), pages 60-67, January.
    16. David M. Newbery, 2002. "Privatization, Restructuring, and Regulation of Network Utilities," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262640481, April.
    17. Sussman, Nathan & Yafeh, Yishay, 2006. "Institutional Reforms, Financial Development and Sovereign Debt: Britain 1690–1790," The Journal of Economic History, Cambridge University Press, vol. 66(4), pages 906-935, December.
    18. Quinn, Stephen, 2001. "The Glorious Revolution'S Effect On English Private Finance: A Microhistory, 1680–1705," The Journal of Economic History, Cambridge University Press, vol. 61(3), pages 593-615, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Bogart D. (2009) The glorious Transport Revolution
      by Ben in Economic History Blog on 2009-08-11 06:01:00

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Terence Kealey, 2022. "The Industrial Revolution as a collective action problem: The House of Commons games patents of monopoly, November 1601," Economic Affairs, Wiley Blackwell, vol. 42(3), pages 418-441, October.
    2. David de la Croix & Frédéric Docquier & Alice Fabre & Robert Stelter, 2024. "The Academic Market and The Rise of Universities in Medieval and Early Modern Europe (1000–1800)," Journal of the European Economic Association, European Economic Association, vol. 22(4), pages 1541-1589.
    3. Malinowski, Mikołaj, 2019. "Economic Consequences of State Failure—Legal Capacity, Regulatory Activity, and Market Integration in Poland, 1505–1772," The Journal of Economic History, Cambridge University Press, vol. 79(3), pages 862-896, September.
    4. Piet Cruyningen, 2015. "Dealing with drainage: state regulation of drainage projects in the Dutch Republic, France, and England during the sixteenth and seventeenth centuries," Economic History Review, Economic History Society, vol. 68(2), pages 420-440, May.
    5. Vincent Bignon & Rui Esteves & Alfonso Herranz-Loncán, 2015. "Big push or big grab? Railways, government activism, and export growth in Latin America, 1865–1913," Economic History Review, Economic History Society, vol. 68(4), pages 1277-1305, November.
    6. Giuseppe Dari-Mattiacci & Oscar Gelderblom & Joost Jonker & Enrico C. Perotti, 2017. "The Emergence of the Corporate Form," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 33(2), pages 193-236.
    7. Cannon, Edmund & Brunt, Liam, 2013. "Integration in the English wheat market 1770-1820," CEPR Discussion Papers 9504, C.E.P.R. Discussion Papers.
    8. Bart Ballaux & Bruno Blondé, 2018. "Road transport productivity in the sixteenth‐century Low Countries: the case of Brabant, 1450–1650," Economic History Review, Economic History Society, vol. 71(3), pages 707-726, August.
    9. Cizakca, Murat, 2012. "Finance and economic development in Islam, historical perspective," MPRA Paper 42046, University Library of Munich, Germany.
    10. Dan Bogart, 2013. "The Transportation Revolution in Industrializing Britain: A Survey," Working Papers 121306, University of California-Irvine, Department of Economics.
    11. Murrell, Peter, 2017. "Design and evolution in institutional development: The insignificance of the English Bill of Rights," Journal of Comparative Economics, Elsevier, vol. 45(1), pages 36-55.
    12. Ian Gazeley & Sara Horrell, 2013. "Nutrition in the English agricultural labourer's household over the course of the long nineteenth century," Economic History Review, Economic History Society, vol. 66(3), pages 757-784, August.
    13. Sussman, Nathan, 2019. "The Financial Development of London in the 17th Century Revisited: A View from the Accounts of the Corporation of London," CEPR Discussion Papers 13920, C.E.P.R. Discussion Papers.
    14. Jedwab, Remi & Johnson, Noel D. & Koyama, Mark, 2024. "Pandemics and cities: Evidence from the Black Death and the long-run," Journal of Urban Economics, Elsevier, vol. 139(C).
    15. Dan Bogart, 2014. "Governance after the Glorious Revolution: evidence on the enforcement of property rights in Britain’s transport sector, 1690-1750," Working Papers 14024, Economic History Society.
    16. Patrick K. O'Brien & Nuno Palma, 2023. "Not an ordinary bank but a great engine of state: The Bank of England and the British economy, 1694–1844," Economic History Review, Economic History Society, vol. 76(1), pages 305-329, February.
    17. Cox, Gary W., 2012. "Was the Glorious Revolution a Constitutional Watershed?," The Journal of Economic History, Cambridge University Press, vol. 72(3), pages 567-600, August.
    18. Sumner La Croix, 2014. "Land Confiscations and land reform in Natural-Order States," Working Papers 201406, University of Hawaii at Manoa, Department of Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dan Bogart, 2008. "Competition and Commitment: the Supply and Enforcement of Rights to Improve Roads and Rivers in England, 1600-1750," Working Papers 070817, University of California-Irvine, Department of Economics.
    2. Dan Bogart, 2016. "The East Indian Monopoly and the Transition from Limited Access in England, 1600–1813," NBER Chapters, in: Organizations, Civil Society, and the Roots of Development, pages 23-49, National Bureau of Economic Research, Inc.
    3. Stephen Quinn, 2008. "Securitization of Sovereign Debt: Corporations as a Sovereign Debt Restructuring Mechanism in Britain, 1694-1750," Working Papers 200701, Texas Christian University, Department of Economics.
    4. Murrell, Peter, 2017. "Design and evolution in institutional development: The insignificance of the English Bill of Rights," Journal of Comparative Economics, Elsevier, vol. 45(1), pages 36-55.
    5. Vesperoni , Alberto, 2013. "War Finance and the Modern State," NEPS Working Papers 6/2013, Network of European Peace Scientists.
    6. Cox, Gary W., 2012. "Was the Glorious Revolution a Constitutional Watershed?," The Journal of Economic History, Cambridge University Press, vol. 72(3), pages 567-600, August.
    7. Timur Kuran & Jared Rubin, 2014. "The Financial Power of the Powerless: Socio-Economic Status and Interest Rates under Partial Rule of Law," Working Papers 14-22, Chapman University, Economic Science Institute.
    8. Bogart, Dan, 2007. "Neighbors, networks, and the development of transport systems: Explaining the diffusion of turnpike trusts in eighteenth-century England," Journal of Urban Economics, Elsevier, vol. 61(2), pages 238-262, March.
    9. Christiaan Bochove, 2014. "External debt and commitment mechanisms: Danish borrowing in Holland, 1763–1825," Economic History Review, Economic History Society, vol. 67(3), pages 652-677, August.
    10. D'Maris Coffman & Judy Z. Stephenson & Nathan Sussman, 2022. "Financing the rebuilding of the City of London after the Great Fire of 1666," Economic History Review, Economic History Society, vol. 75(4), pages 1120-1150, November.
    11. Broadberry Stephen, 2012. "Recent Developments in the Theory of Very Long Run Growth: A Historical Appraisal," Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook, De Gruyter, vol. 53(1), pages 277-306, May.
    12. Joel Mokyr & Hans-Joachim Voth, 2012. "Understanding Growth in Europe, 1700–1870: Theory and Evidence," Journal of Economic Sociology, National Research University Higher School of Economics, vol. 13(5), pages 57-102.
    13. Leonor Freire Costa & Maria Manuela Rocha & Paulo B. Brito, 2018. "The alchemy of gold: interest rates, money stock, and credit in eighteenth‐century Lisbon," Economic History Review, Economic History Society, vol. 71(4), pages 1147-1172, November.
    14. Dan Bogart, 2013. "The Transportation Revolution in Industrializing Britain: A Survey," Working Papers 121306, University of California-Irvine, Department of Economics.
    15. Noel D., Johnson & Mark, Koyama, 2012. "Standardizing the fiscal state: cabal tax farming as an Intermediate Institution in early-modern England and France," MPRA Paper 40403, University Library of Munich, Germany.
    16. Chilosi, David, 2014. "Risky Institutions: Political Regimes and the Cost of Public Borrowing in Early Modern Italy," The Journal of Economic History, Cambridge University Press, vol. 74(3), pages 887-915, September.
    17. Robert C. Allen, 2008. "A Review of Gregory Clark's A Farewell to Alms: A Brief Economic History of the World," Journal of Economic Literature, American Economic Association, vol. 46(4), pages 946-973, December.
    18. Karayalcin, Cem, 2016. "Property rights and the first great divergence: Europe 1500–1800," International Review of Economics & Finance, Elsevier, vol. 42(C), pages 484-498.
    19. Mark Dincecco, 2010. "The Political Economy Of Fiscal Prudence In Historical Perspective," Economics and Politics, Wiley Blackwell, vol. 22(1), pages 1-36, March.
    20. de Pleijt, Alexandra M., 2015. "Human capital and long run economic growth : Evidence from the stock of human capital in England, 1300-1900," CAGE Online Working Paper Series 229, Competitive Advantage in the Global Economy (CAGE).

    More about this item

    JEL classification:

    • N43 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: Pre-1913
    • N73 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: Pre-1913
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ehsrev:v:64:y:2011:i:4:p:1073-1112. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/ehsukea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.