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This paper investigates the determinants of economic growth emphasizing the role of institutional quality, social fragmentation, and increasing global integration on recent growth experience. Our longitudinal data consists of 103 countries covering the period 1992-2005. We find that democracies...
Persistent link: https://www.econbiz.de/10011279247
Legal institutions are critical for the development of market-based economies. This paper defines legal institutions and discusses different indicators to measure their quality and efficiency. It surveys a large historical and empirical literature showing the importance of legal institutions in...
Persistent link: https://www.econbiz.de/10011091987
. Registries are essential not only to make the chosen rules public but to ensure rightholders commitment and avoid rule …
Persistent link: https://www.econbiz.de/10010547199
Most economic interactions happen in a context of sequential exchange in which innocent third parties suffer information asymmetry with respect to previous originative contracts. The law reduces transaction costs by protecting these third parties but preserves some element of consent by property...
Persistent link: https://www.econbiz.de/10010547216
The Ottoman Empire had a profound impact in Europe, the Middle East and North Africa at the apogee of its power, covering the era between 1453 C. E. and 1699 C. E. In this paper, I exploit the empire’s unique culture and institutions to examine the roles of ethnicity and religion in conflict...
Persistent link: https://www.econbiz.de/10005763535
Ethnic and religious fractionalization have important effects on economic growth and development, but their role in internal violent conflicts has been found to be negligible and statistically insignificant. These findings have been invoked in refutation of the Huntington hypothesis, according...
Persistent link: https://www.econbiz.de/10005566684
Impersonal exchange has been a major driver of economic development. But transactors with no stake in maintaining an ongoing relationship have little incentive to honor deals. Therefore, all economies have developed institutions to support honest trade and realize the gains of impersonal...
Persistent link: https://www.econbiz.de/10011090830
divided) states rationally dropped out of the competition. This mechanism leads to both increasing divergence between European …
Persistent link: https://www.econbiz.de/10010701797
The Axial Age, which lasted between 800 B. C. E. and 200 B. C. E., covers an era in which the spiritual foundations of humanity were laid simultaneously and independently in various geographic areas, and all three major monotheisms of Judaism, Christianity and Islam were born between 1200 B. C....
Persistent link: https://www.econbiz.de/10005762170
This paper emphasizes that the evolution of religious institutions in Europe was influenced by the expansionary threat posed by the Ottoman Empire five centuries ago. This threat intensified in the second half of the 15th century and peaked in the first half of the 16th century with the Ottoman...
Persistent link: https://www.econbiz.de/10005762252