Differences in farm structures between Russia and western market economies can hardly be made consistent with the neoclassical textbook idea of a technologically determined farm size operating in a perfect market environment. The main aim of the paper is to identify embedded institutions that...

This paper creates a new database that covers all banks in the United States in the census years between 1870 and 1900 to test the interaction between inequality and financial development when the banking system was starting over from scratch. A fixed-effects panel regression shows that the...