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SUMMARY:The cultural legacy of historical ethnic violence: The impact on a
 ccess to finance and innovation - Jianan Lu\, University of Portsmouth
DTSTART:20250312T131500Z
DTEND:20250312T144500Z
UID:TALK228241@talks.cam.ac.uk
CONTACT:Aleksandra Dul
DESCRIPTION:Using the case of the pogroms that took place in the historica
 l region of the 'Pale of Settlement' in Eastern Europe\, this paper analyz
 es the cultural legacy of ethnic violence and its long-term economic impac
 t on access to finance and on corporate innovation. We find that firms in 
 regions with a higher historical intensity of ethnic persecution face grea
 ter financial constraints\, relying more on internal finance and experienc
 ing reduced access to external finance. These financial limitations are li
 nked to sluggish innovation activities among present-day firms. We propose
  that a mechanism of financial antipathy\, rooted in a persistent anti-mar
 ket culture fostered by historical ethnic animosity\, explains these effec
 ts and reflects a long-term degradation of local social capital. Our resul
 ts are supported by causal evidence using instrumental variables based on 
 the precursors of historical inter-ethnic violence. The animosity and disc
 rimination against the minority group appear to transfer to the broader ec
 onomic activities in which that group was involved\, creating lasting econ
 omic consequences for the majority population – consequences that contin
 ue to affect financial development and innovation to the present day.\n\n"
 Join us on Teams":https://teams.microsoft.com/l/meetup-join/19%3ameeting_N
 WM0YjM0NDUtZjI2NC00ZjBjLTg2M2QtMWQwNjllZWU3MTlh%40thread.v2/0?context=%7b%
 22Tid%22%3a%2249a50445-bdfa-4b79-ade3-547b4f3986e9%22%2c%22Oid%22%3a%22434
 3bac8-fb35-49eb-93ad-c4655f9276e7%22%7d\n\nMeeting ID: 331 423 030 137\nPa
 sscode: xv2n3Aj6
LOCATION:Room 12\, Faculty of History\, and on Teams
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