Historical Slave Trade and the Modern Business Environment

Event Date: Monday, March 2 at Noon

On Monday, March 2 at noon, Professor Lamar Pierce, Professor of Organization & Strategy and Associate Dean for Olin-Brookings Partnership at the Olin Business School, will deliver a lecture on his recent research findings highlighting how access to finance helps explain the link between the historical African slave trade and current gross domestic product.

By first presenting mistrust, weakened institutions, and ethnic fractionalization as plausible historical channels linking the slave trade to modern finance and development, Professor Pierce’s research shows that (i) the slave trade is consistently linked to reduced access to the formal and trade credit as well as equity financing, (ii) this shortage particularly reduces capital investment in smaller firms and those in manufacturing, and (iii) the slave trade cannot explain most other business obstacles, suggesting that long-term societal shocks are exceptionally important for finance.

Location: Goldfarb Hall – Goldfarb 132 | Free and open to the public.

Lunch provided | Kindly RSVP at Africa@wustl.edu.

Click here to read the Record story on the topic: Research finds slave trade’s effect on firm ownership persists today.