Research
Advancing the field economic history
Full list of publications
Research achievements
The divergence of economic history from economics has impoverished our ability to explain the modern world. My research goal is to show how these fields can be usefully combined to better understand the performance of firms, industries and economies.
My main research contribution has been to explore the causes, anatomy and consequences of the Dutch financial crisis of the 1920s, the last banking crisis to hit the Netherlands before 2008. I combined corporate financing data with other types of historical evidence, including qualitative evidence from business archives, to explain the behaviour of diverse banking organisations during this crisis. My research, which has been published in leading economic and business history journals, shows that the structure of the Dutch financial services sector before the crisis explains its performance during the crisis period.
My research on the Dutch case shows: (1) the flexibility of the Netherlands’ legal system meant shareholder liability arrangements had little impact on risk-taking incentives (Business History Review, 2018); (2) social structures due to religious divisions influenced the performance of banks by allowing minority groups to better control their risks (The Journal of Economic History, 2017); (3) decisions about banks’ balance sheet composition and product market strategies made well before the crisis determined their subsequent ability to survive the crisis intact (Explorations in Economic History, 2015, co-authored with Abe de Jong and Philip Fliers); (4) the unique funding model of the Netherlands’ cooperative banks explains their success versus other types of banking organisations in the Netherlands (European Review of Economic History, 2020, co-authored with Stuart Henderson and John Turner) and versus similar organisations elsewhere in Europe (The Economic History Review, 2014, co-authored with Eoin McLaughlin); and (5) the biggest bank to fail in the crisis did so because of insurmountable conflicts of interest (Business History, 2014).
My main research contribution has been to explore the causes, anatomy and consequences of the Dutch financial crisis of the 1920s, the last banking crisis to hit the Netherlands before 2008. I combined corporate financing data with other types of historical evidence, including qualitative evidence from business archives, to explain the behaviour of diverse banking organisations during this crisis. My research, which has been published in leading economic and business history journals, shows that the structure of the Dutch financial services sector before the crisis explains its performance during the crisis period.
My research on the Dutch case shows: (1) the flexibility of the Netherlands’ legal system meant shareholder liability arrangements had little impact on risk-taking incentives (Business History Review, 2018); (2) social structures due to religious divisions influenced the performance of banks by allowing minority groups to better control their risks (The Journal of Economic History, 2017); (3) decisions about banks’ balance sheet composition and product market strategies made well before the crisis determined their subsequent ability to survive the crisis intact (Explorations in Economic History, 2015, co-authored with Abe de Jong and Philip Fliers); (4) the unique funding model of the Netherlands’ cooperative banks explains their success versus other types of banking organisations in the Netherlands (European Review of Economic History, 2020, co-authored with Stuart Henderson and John Turner) and versus similar organisations elsewhere in Europe (The Economic History Review, 2014, co-authored with Eoin McLaughlin); and (5) the biggest bank to fail in the crisis did so because of insurmountable conflicts of interest (Business History, 2014).
Current research projects
1. Financial history
Understanding the determinants of corporate bankruptcies in the Netherlands across the twentieth century (with Philip Fliers, Abe de Jong and Florian Madertoner).
2. Health and history
Measuring the long-run health impact of the Great Irish Famine (with Matthias Blum and Eoin McLaughlin). And measuring the causes, anatomy and consequences of the Spanish flu in Ireland (with Eoin McLaughlin and Kyle Richmond).
3. Innovation policy
Historical patent institutions and their impact on innovation, in Britain (with Stephen Billington and Christopher Coyle) and in the Netherlands (with Homer Wagenaar).
4. Pedagogical reform
Developing new ways in which economic and business history can be taught to undergraduate economics students (with Graham Brownlow) and to postgraduate management students (with Michael Aldous and David Paulson). This work is a continuation of my book project, An Economist's Guide to Economic History (with Matthias Blum).
Understanding the determinants of corporate bankruptcies in the Netherlands across the twentieth century (with Philip Fliers, Abe de Jong and Florian Madertoner).
2. Health and history
Measuring the long-run health impact of the Great Irish Famine (with Matthias Blum and Eoin McLaughlin). And measuring the causes, anatomy and consequences of the Spanish flu in Ireland (with Eoin McLaughlin and Kyle Richmond).
3. Innovation policy
Historical patent institutions and their impact on innovation, in Britain (with Stephen Billington and Christopher Coyle) and in the Netherlands (with Homer Wagenaar).
4. Pedagogical reform
Developing new ways in which economic and business history can be taught to undergraduate economics students (with Graham Brownlow) and to postgraduate management students (with Michael Aldous and David Paulson). This work is a continuation of my book project, An Economist's Guide to Economic History (with Matthias Blum).