This article provides a survey of a growing body of empirical evidence that points towards the important long-term effects that historic events can have on current economic development.The most recent studies, using micro-level data and more sophisticated identification techniques, have moved beyond testing whether history matters, and attempt to identify exactly why history matters.The most commonly examined channels include: institutions, culture, knowledge and technology, and movements between multiple equilibria.The article concludes with a discussion of the questions that remain and the direct of current research in the literature.
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