Suchergebnisse

The article shows that the development of industrial sectors and peasant crafts in the first quarter of the 19th century. it contributed to the spread of freelance labor, the share of which by the beginning of the 1861 reform was 87% of the total number of workers employed in industry. The reasons determining the long-term preservation of the feudal-serf system in the management of factories and plants of the studied period after the abolition of serfdom are indicated. It was revealed that in order to reduce labor costs, as well as in conditions of shortage of premises and equipment, manufacturers used handicraft industry. It is shown that the end of the 19th century was a turning point in the labor relations of manufacturers and workers, the requirements for which were now fixed in multiple legislative acts adopted during this period.

This paper challenges a popular explanation for 'original sin' - the default prone borrowing of long term debt in foreign exchange by emerging markets - that emphasizes the lack of credibility and commitment of governments, that prevents them from borrowing in their own currency. Basing our account on the history of emerging market borrowing in the nineteenth century, we offer an explanation based on historical path dependence. We document that almost all IPO's of governments in foreign markets were in foreign exchange, or with foreign exchange clauses, independent of those countries' institutional features. We show that a small number of countries could circulate debt denominated in their own currency in secondary markets, again irrespective of their constitutional setup. We argue that market liquidity can explain both phenomenon. Having an internationally circulating currency allows countries to circulate their debt in secondary markets. Going for an IPO in a large financial center, is an attempt to tap the greater liquidity of that center's money market and currency. It makes prefect sense to borrow then, in that center's currency. The evolution of vehicle currencies and liquid money markets has more to do with historical evolution of trade, going back to medieval times, rather than with institutional reform. Escaping from original sin requires that the country emerge as a leading economic power - a rare historical event, reserved for the U.S of the nineteenth century and Japan of the twentieth century.

This paper challenges a popular explanation for 'original sin' - the default prone borrowing of long term debt in foreign exchange by emerging markets - that emphasizes the lack of credibility and commitment of governments, that prevents them from borrowing in their own currency. Basing our account on the history of emerging market borrowing in the nineteenth century, we offer an explanation based on historical path dependence. We document that almost all IPO's of governments in foreign markets were in foreign exchange, or with foreign exchange clauses, independent of those countries' institutional features. We show that a small number of countries could circulate debt denominated in their own currency in secondary markets, again irrespective of their constitutional setup. We argue that market liquidity can explain both phenomenon. Having an internationally circulating currency allows countries to circulate their debt in secondary markets. Going for an IPO in a large financial center, is an attempt to tap the greater liquidity of that center's money market and currency. It makes prefect sense to borrow then, in that center's currency. The evolution of vehicle currencies and liquid money markets has more to do with historical evolution of trade, going back to medieval times, rather than with institutional reform. Escaping from original sin requires that the country emerge as a leading economic power - a rare historical event, reserved for the U.S of the nineteenth century and Japan of the twentieth century.

Beginning as a Spanish colony to become an independent republic – the 19th century was a pivotal point for Venezuela. Socially, politically, and economically speaking, the changes were numerous, and so were the cultural and artistic manifestations that flourished in those circumstances. One of them will be tackled in this study: music. This paper is a review of one of the richest information sources: the publications of the times. Venezuelan 19th century hemerography contains hundreds of music news on composers and their environment, works, performers, musical institutions, events, concerts, critical reviews, and others of the sort. They are the witness of the events of an epoch. By analyzing them, a partial reconstruction of the Venezuelan music history can be made possible.

'Entangling Relations: American Foreign Policy in Its Century' by David A. Lake is reviewed. Entangling Relations: American Foreign Policy in Its Century by David A. Lake is reviewed.

Oman and Brunei are two countries with a long history of sultanic regimes. A sultanate is a kingdom ruled by a Muslim monarch. Because of these two countries' geopolitical and geostrategic locations, they are very important in global affairs. At the same time, although situated in the highly tense regions of the Middle East and Southeast Asia respectively, Oman and Brunei are generally quite stable. They have recently become involved in China's global economic project, the Belt and Road Initiative (BRI). Using a theory of small states, this article applies a qualitative research methodology focusing mainly on foreign policy analysis in a comprehensive analytical framework. The study uses face-to-face and by-correspondence interviews with government officials from both sultanates. It investigates whether the domestic determinants of small states' foreign policy directly affect the bilateral relations between the two sultanates. The main finding of this study is that Oman and Brunei have greatly benefited through the establishment of a satisfactory bilateral relationship based mainly on four pillars from the list of determinants of small states' foreign policy: historical connectivity, an Islamic monarchical dynastic system of governance, a state rentier economy, and shared foreign policy principles. (Asian Aff/GIGA)