Drawing on the recent literature on economic institutions and the origins of economic development, we offer a political economy explanation of why institution building has varied so much across transition economies. We identify dependence on natural resources and the historical experience of...

In this paper we develop a new empirical approach to uncovering the impact of social attitudes on economic development. We first show that trust of second-generation Americans is significantly influenced by the country of origin of their forebears. In the spirit of the epidemiology literature,...

Throughout the post-war period Greece has faced a unique, and unfavourable, situation consisting of: (i) a perimetric location away from major European markets; and (ii) distorted economic relations as its northern borders were designed to be real barriers to communication and trade with...

There is controversy about whether geography matters mainly because of its contemporaneous impact on economic outcomes or because of its interaction with historical events. Looking at terrain ruggedness, we are able to estimate the importance of these two channels. Because rugged terrain hinders...

The stalemate reached on launching negotiations on most of the Singapore Issues at Cancún provides an opportunity to revisit the knowledge base upon which proposals for international collective action may be drawn. This Paper examines the available evidence on public procurement practices in...

This Paper empirically investigates the impact of distortions in the banking sector on the structure and dynamics of product markets as well as on firm level outcomes. Our analysis suggests that an increase in the efficiency of the banking industry can have first-order effects not only on the...

The purpose of this paper is to try to shed some new light on the current industrial policy crisis. This paper proposes that the industrial policy debate is shaped by knowledge about the functioning of the underlying industrial structure, which in turn is the Gegenstand of scholars in the field...

This paper discusses the problems the Dutch economy has experienced during the last seven years, pinpoints problems for future developments of the Dutch economy, and surveys the political-economic debate in the Netherlands. The focus is on the unemployment problem, still unsolved and therefore...

The industrialization of labour is the main engine of growth during the early stages of economic development. In less developed countries, equipment investment has played a less important role than non-equipment investment; and it has only proved growth enhancing when it either encountered a...

In the late 1980s many developing countries experienced something of a paradigm shift, in that governments began to pursue more market oriented domestic policies. There was increasingly a perception that liberalizing access to service markets was a potentially low cost and effective method of...