birdwatcher (birdwatcher) wrote,

Kicking Medieval Jews out of Europe damaged the economy

DailyMail -- Speaking to MailOnline, Professor Pascali said: 'I argue that cities, in which the local Jewish community in 1500 caused an early development of the banking sector, have more banks today and, because of this, are more developed today.
Local banking development has a large causal impact on economic development.
'In particular, using firm-level data, I show that a higher density of local banks increases aggregate productivity in the manufacturing sector, by reallocating resources towards the most productive firms.
'This is the main channel through which local banks have an effect on economic development.'

  • Например

    Педагог по классическому фортепиано прислал всем гайдлайны, как записывать видосы. - Make sure not to look at the camera, keeping hands on the lap.…

  • Расисты упорствуют. Чья возьмёт?

    Biden Cabinet secretary defends race-based COVID aid, citing historical discrimination

  • Какое счастье

    Французы нас простили. Macron: Biden has 'definitely' convinced allies that U.S. is back.

  • Post a new comment


    default userpic
    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.