TY - JOUR AU - Acemoglu,Daron AU - Johnson,Simon AU - Robinson,James TI - The Rise of Europe: Atlantic Trade, Institutional Change and Economic Growth JF - National Bureau of Economic Research Working Paper Series VL - No. 9378 PY - 2002 Y2 - December 2002 UR - http://www.nber.org/papers/w9378 L1 - http://www.nber.org/papers/w9378.pdf N1 - Author contact info: Daron Acemoglu Department of Economics MIT, E52-380B 50 Memorial Drive Cambridge, MA 02142-1347 Tel: 617/253-1927 Fax: 617/253-1330 E-Mail: daron@mit.edu Simon Johnson MIT Sloan School of Management 100 Main Street, E52-562 Cambridge, MA 02142 Tel: 617/290-9618 Fax: 617/253-2660 E-Mail: sjohnson@mit.edu James A. Robinson Harvard University Department of Government N309, 1737 Cambridge Street Cambridge, MA 02138 Tel: 617/496-2839 Fax: 617/495-0438 E-Mail: jrobinson@gov.harvard.edu AB - This paper documents that the Rise of (Western) Europe between 1500 and 1850 is largely accounted for by the growth of European nations with access to the Atlantic, and especially by those nations that engaged in colonialism and long distance oceanic trade. Moreover, Atlantic ports grew much faster than other West European cities, including Mediterranean ports. Atlantic trade and colonialism affected Europe both directly, and indirectly by inducing institutional changes. In particular, the growth of New World, African, and Asian trade after 1500 strengthened new segments of the commercial bourgeoisie, and enabled these groups to demand, obtain, and sustain changes in institutions to protect their property rights. Furthermore, the most significant institutional changes and consequently the most substantial economic gains occurred in nations where existing institutions placed some checks on the monarchy and particularly limited its control of overseas trading activities, thus enabling new merchants in these countries to benefit from Atlantic trade. Therefore, the Rise of Europe was largely the result of capitalist development driven by the interaction of late medieval institutions and the economic opportunities offered by Atlantic trade.' ER -