Credit rationing and crowding out during the Industrial Revolution: Evidence from Hoare's Bank, 1702-1862

Crowding-out during the British Industrial Revolution has long been one of the leadingexplanations for slow growth during the Industrial Revolution, but little empirical evidence exists to support it. We argue that examinations of interest rates are fundamentally misguided, and that the eighteenth- and early nineteenth-century private loan market balanced through quantity rationing. Using a unique set of observations on lending volume at a London goldsmith bank, Hoare s, we document the impact of wartime financing on private credit markets. We conclude that there is considerable evidence that government borrowing, especially during wartime, crowded out private credit.

Notes on the holotype of Anopheles marajoara Galvão & Damasceno (Diptera, Culicidae)

During studies on the dynamics of malaria transmission in Marajó Island, State of Pará, Brazil, Galvão & Damasceno (1942) collected a single specimen of a new species that they named Anopheles (Nyssorhynchus) marajoara Galvão & Damasceno, 1942. Now, examining genitalia slide associated to the holotype, we observed that the ventral claspette of the male genitalia is distinct from those of all other species of the Argyritarsis Section and consequently from members of the complex Anopheles albitarsis Lynch Arribalzaga, 1878. The male genitalia of the slide belong to a specimen of Anopheles aquasalis Curry, 1932, nevertheless, it was originally labeled as Anopheles marajoara. To solve this problem, we are setting aside the male genitalia slide associated with the holotype of Anopheles marajoara and excluding it from the type material. Illustrations of the male genitalia and adult male are included.

Revisionary notes on the fungus-growing ant genus Mycetarotes Emery (Hymenoptera, Formicidae)

Mycetarotes is a small genus of the exclusively Neotropical fungus-growing ants, that includes M. parallelus (Emery), M. senticosus Kempf, M. acutus Mayhé-Nunes and M. carinatus Mayhé-Nunes. We hereby revise historical and recent information regarding Mycetarotes species for the first time, providing an identification key to workers, diagnoses, synoptic illustrated redescriptions of the species, including those of sexuals when known, updates of distributional records, and nest pictures of M. carinatus and M. parallelus. We comment the taxonomy and phylogenetic relationships among Mycetarotes and related genera, and on their geographical distribution. The available biological information on the genus is summarized.

Le siège de Paris par les Normands, en 885 et 886 / poème d'Abbon ; avec la trad. en regard, accompagné de notes explicatives et historiques, par N. R. Taranne,...

[Bella Parisiacae urbis (français-latin). 1834]

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A new species of Cervellus Szépligeti (Hymenoptera, Braconidae, Braconinae) with biological notes

A new Cervellus species is described from Brazil. The male to this genus is described for the first time as well its cocoon is illustrated. The specimens parasitize the papaya borer weevil Pseudopiazurus obesus (Boheman, 1838) (Coleoptera, Curculionidae) associated with Carica papaya Linnaeus, 1753 (Caricaceae) at Rio Grande do Norte and Bahia Brazilian States.

Species of Euglossa (Glossura) in the Brazilian Atlantic forest, with taxonomic notes on Euglossa stellfeldi Moure (Hymenoptera, Apidae, Euglossina)

The species of Euglossa (Glossura) occuring in the Brazilian Atlantic forest were revised and an identification key to males and females is provided. The status of Euglossa annectans Dressler and E. stellfeldi Moure is reevaluated and the latter species is transferred from E. (Glossura) to E. (Glossurella). Here we also synonymize E. carinilabris Dressler under E. stellfeldi. Taxonomic notes are provided and relevant morphological features are illustred. Latitudinal color variation along the Brazilian Atlantic forest, found in two of the species studied here, is also presented and discussed.

Financial liberalization, bank crises and growth: Assessing the links

This paper studies the effects of financial liberalization and banking crises on growth. It shows that financial liberalization spurs on average economic growth. Banking crises are harmful for growth, but to a lesser extent in countries with open financial systems and good institutions. The positive effect of financial liberalization is robust to different definitions. While the removal of capital account restrictions is effective by increasing financial depth, equity market liberalization affects growth directly. The empirical analysis is performed through GMM dynamic panel data estimations on a panel of 90 countries observed in the period 1975-1999.

Circulation of private notes during a currency shortage

This paper provides a search theoretical model that captures two phenomena that have characterized several episodes of monetary history: currency shortages and the circulation of privately issued notes. As usual in these models, the media of exchange are determined as part of the equilibrium. We characterize all the different equilibria and specify the conditions under which there is a currency shortage and/or privately issued notes are used as means of payment. There is multiplicity of equilibria for the entire parameter space, but there always exist an equilibrium in which notes circulate, either alone or together with coins. Hence, credit is a self-fulfilling phenomenon that depends on the beliefs of agents about the acceptability and future repayment of notes. The degree of circulation of coins depends on two crucial parameters, the intrinsic utility of holding coins and the extent with which it is possible to find exchange opportunities in the market.

A new species of the genus Pimelerodius Vanin from the Amazon Region, with notes on the geografic distribution of Pimelerodius motacilla (Boheman) (Coleoptera, Curculionidae, Otidocephalini)

Pimelerodius punctiventris sp. nov. (type locality Brazil, Amazonas, Itacoatiara) is described and illustrated. The new taxon is compared with similar species, being distinguished from the other 12 known species of the genus by the presence of punctures in ventrite I. The available published key for identification of species of Pimelerodius is adapted to include the new species. A modification of the generic description of the aedeagus of Pimelerodius is provided, a necessity due to the differences observed in the aedeagus of the new species. The occurrence of P. motacilla (Boheman, 1843) in the Amazon Region, recorded in sympatry with P. punctiventris in Itacoatiara, AM, is discussed and confirmed, based on the study of 41 available specimens.