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Why has the expansion of women's economic and political rights coincided with economic development? This paper investigates this question, focusing on a key economic right for women: property rights. The basic hypothesis is that the process of development (i.e., capital accumulation and...
Persistent link: https://www.econbiz.de/10008528542
In 1795 the British took control of the Cape colony (South Africa) from the Dutch; and in 1843 they exogenously changed the legal basis of landholding, giving more secure property rights to landholders. Since endowments and other factors were held constant, these changes offer clean tests of the...
Persistent link: https://www.econbiz.de/10005067510
We propose and investigate a new channel through which the resource curse - a stylized fact that countries rich in natural resources grow slower - operates. Predatory governments are more likely to expropriate corporate profits in natural-resource industries when the price of resources is...
Persistent link: https://www.econbiz.de/10005504390
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/10008784706
Institutions that serve the interests of an elite are often cited as an important reason for poor economic performance. This paper builds a model of institutions that allocate resources and power to maximize the payoff of an elite, but where any group that exerts sufficient fighting effort can...
Persistent link: https://www.econbiz.de/10011084465
change is needed. The rigid system is preferable at early stages of technological development, when (lack of) commitment …
Persistent link: https://www.econbiz.de/10009148877
This paper analyzes the decision of a group of specialized workers to form a guild and block the adoption of a new technology that does not require their specialized input. The theory predicts an inverted-U relation between guilds and market size: for small markets, firm profits are insufficient...
Persistent link: https://www.econbiz.de/10011083603
risk management through contracting, and designing markets and regulation to ensure effective and sustainable competition …. Restructuring is problematic, requiring forceful competition authorities with a clear agenda to achieve desirable structural reforms …. Finally, proactive competition policies will be necessary to resist the powerful forces for vertical and horizontal …
Persistent link: https://www.econbiz.de/10005661538
divided) states rationally dropped out of the competition. This mechanism leads to both increasing divergence between European …
Persistent link: https://www.econbiz.de/10009385769
Starting in Spain in the twelfth century, parliaments gradually spread over the Latin West. The paper quantifies the activity of medieval and early-modern parliaments, which also makes it possible to analyse the influence of this institutional innovation. In the early-modern period parliaments...
Persistent link: https://www.econbiz.de/10008530357