Schumpeterian growth theory has "operationalized" Schumpeter''s notion of creative destruction by developing models based on this concept. These models shed light on several aspects of the growth process which could not be properly addressed by alternative theories. In this survey, we focus on...

Schumpeterian growth theory has operationalized Schumpeter’s notion of creative destruction by developing models based on this concept. These models shed light on several aspects of the growth process that could not be properly addressed by alternative theories. In this survey, we focus on...

Schumpeterian growth theory has operationalized Schumpeter’s notion of creative destruction by developing models based on this concept. These models shed light on several aspects of the growth process that could not be properly addressed by alternative theories. In this survey, we focus on...

Productivity growth has slowed across most OECD economies since the mid-2000s. While important aspects of New Zealand’s economic performance have improved over this period, productivity growth is still comparatively low. This continues a long-run trend of poor productivity in New Zealand,...

A partire dallo studio di Edward Banfield del 1958 diverse ricerche hanno esaminato il nesso tra aspetti fiduciari, istituzioni e sviluppo economico a livello regionale. Minore è stata l’attenzione sul ruolo dell’imprenditorialità sui processi fiduciari e le relazioni con il sistema...

We design an experiment to explore how geography shapes exchange between spatially distant markets and hypothesize that geographical isolation of traveling intermediaries from stationary sources of production creates social isolation that hinders trade. We characterize our economies with a...

In this paper, we provide a new framework for analyzing corruption in public bureaucracies. The standard way to model corruption is as an example of moral hazard, which then leads to a focus on better monitoring and stricter penalties with the eradication of corruption as the final goal. We...

This paper develops a simple dynamic framework of holdout in land acquisition (both with and without political intervention), where holdout arises because of the landowners’ inability to manage large sums of money (and consequent lack of inter-temporal consumption smoothing in case of sale)...

This study addresses the apparent puzzle that China achieved spectacular economic performance despite weak institutions. Using a World Bank survey of 1566 manufacturing enterprises in 18 Chinese cities, we investigated whether property rights protection mattered for enterprise performance. We...

This paper presents an experimental test of a 2-player, one-shot game of conflict in which we vary the strength of property rights and the return on investment. Our results suggest that stronger property rights reduce conflict and increase investment. Contrary to intuition, we find increasing...