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Redemptioner Immigration to Pennsylvania: Evidence on Contract Choice and Profitability

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  • Grubb, Farley

Abstract

The evolution from indentured to redemptioner servitude as a means of financing immigration to late eighteenth-century Pennsylvania is documented. The compensating differences between methods are used to explain contract choice. The rate of return to shipping redemptioners is estimated and compared with the default rate needed to make it a competitive return. The expected incidence of defaults and the implications for risk pooling among families and risk spreading across voyages are investigated.

Suggested Citation

  • Grubb, Farley, 1986. "Redemptioner Immigration to Pennsylvania: Evidence on Contract Choice and Profitability," The Journal of Economic History, Cambridge University Press, vol. 46(2), pages 407-418, June.
    • Handle: RePEc:cup:jechis:v:46:y:1986:i:02:p:407-418_04
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    Cited by:

    1. Eric C. Edwards & Martin Fiszbein & Gary D. Libecap, 2022. "Property Rights to Land and Agricultural Organization: An Argentina–United States Comparison," Journal of Law and Economics, University of Chicago Press, vol. 65(S1), pages 1-33.
    2. Ran Abramitzky & Leah Boustan, 2017. "Immigration in American Economic History," Journal of Economic Literature, American Economic Association, vol. 55(4), pages 1311-1345, December.
    3. Rosenbloom, Joshua L., 2018. "The Colonial American Economy," ISU General Staff Papers 201802270800001002, Iowa State University, Department of Economics.
    4. Alex Armstrong & Frank D. Lewis, 2012. "International migration with capital constraints: interpreting migration from the Netherlands to Canada in the 1920s," Canadian Journal of Economics, Canadian Economics Association, vol. 45(2), pages 732-754, May.
    5. Grubb, Farley, 2000. "The Statutory Regulation of Colonial Servitude: An Incomplete-Contract Approach," Explorations in Economic History, Elsevier, vol. 37(1), pages 42-75, January.
    6. Gary D. Libecap, 2018. "Property Rights to Frontier Land and Minerals: US Exceptionalism," NBER Working Papers 24544, National Bureau of Economic Research, Inc.
    7. Farley Grubb, 2003. "Babes in Bondage Parental Selling of Children to Finance Family Migration: The Case of German Migration to North America, 1720-1820," Working Papers 03-04, University of Delaware, Department of Economics.
    8. Alexander Armstrong & Frank D. Lewis, 2009. "Capital Constraints And European Migration To Canada: Evidence From The 1920s Passenger Lists," Working Paper 1230, Economics Department, Queen's University.

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