Did the Glorious Revolution Contribute to the Transport Revolution? Evidence from Investment in Roads and Rivers

40 Pages Posted: 6 Oct 2011

See all articles by Daniel E. Bogart

Daniel E. Bogart

University of California, Irvine - Department of Economics

Multiple version iconThere are 2 versions of this paper

Date Written: November 2011

Abstract

The Glorious Revolution has been linked with Britain's economic development in the eighteenth century. This article argues that it contributed to the early transport revolution. First, it shows that the regulatory environment became more favourable for undertakers, with their rights being better protected. Second, it shows that investment in improving roads and rivers increased substantially in the mid‐1690s shortly after the Glorious Revolution. Regression analysis and structural breaks tests confirm that there was a change in investment even after controlling for other determinants of investment. The results have implications for debates on the role of political change in British economic growth.

Suggested Citation

Bogart, Daniel E., Did the Glorious Revolution Contribute to the Transport Revolution? Evidence from Investment in Roads and Rivers (November 2011). The Economic History Review, Vol. 64, Issue 4, pp. 1073-1112, 2011. Available at SSRN: https://ssrn.com/abstract=1939632 or http://dx.doi.org/10.1111/j.1468-0289.2010.00580.x

Daniel E. Bogart (Contact Author)

University of California, Irvine - Department of Economics ( email )

3151 Social Science Plaza
Irvine, CA 92697-5100
United States

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