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Institutions can affect individual behavior both via their efficiency impact and via their risk reducing mechanisms … simultaneously extant institutions. This paper presents a simple model of institutional choice in a labor market when there is a risk …
Persistent link: https://www.econbiz.de/10005118909
Both institutional quality and institutional stability have been argued to stimulate economic growth. But to improve institutional quality, a country must endure a period of institutional change, which implies at least a little and possibly a lot of institutional instability. We investigate the...
Persistent link: https://www.econbiz.de/10005245150
Many students of evolutionary, institutional, and cognitive economics have been aware that important links among these fields exist, and several authors have worked on bringing these links to light. Nevertheless, large parts of these links still remain poorly understood. Low interest in...
Persistent link: https://www.econbiz.de/10005196905
associated with inequality adversely affected the emergence of institutions that promote human capital accumulation. The research …
Persistent link: https://www.econbiz.de/10005125614
Natural resources in sub-Saharan Africa suffer from a bad reputation. Oil and diamonds, particularly, have been blamed for a number of Africa’s illnesses such as poverty, corruption, dictatorship and war. This paper outlines the different areas and transmission channels of how this so-called...
Persistent link: https://www.econbiz.de/10005125845
from institutions, and to some extent, geography, on long-run prosperity and TFP, may be thus explained. …
Persistent link: https://www.econbiz.de/10005126217
distribution of land ownership, adversely affected the implementation of human capital promoting institutions (e.g., public …
Persistent link: https://www.econbiz.de/10005062436
institutions. The study conducts a literature review on the theoretical and empirical works of economic growth, with emphasis in …
Persistent link: https://www.econbiz.de/10005062522
We use a set of established growth models, which simultaneously include human capital and R&D, to show that the effect of mortality rate in human capital accumulation is quantitatively more important than the effect of perfectly guaranteed patents on research. First, we show that the effect of...
Persistent link: https://www.econbiz.de/10005407750
institutions. The study conducts a literature review on the theoretical and empirical works of economic growth, with emphasis in …
Persistent link: https://www.econbiz.de/10005407867