Showing 1 - 10 of 30
Judicial Independence (JI) as factually implemented varies considerably between countries. Since de iure JI is an imperfect predictor of de facto JI, a number of variables that might determine the factual level of judicial independence is theoretically discussed and empirically tested. A...
Persistent link: https://www.econbiz.de/10005561022
In this paper we explain the prevalence of explicit contracts of employment, particularly those that embody high- rather than low-powered incentives and clauses that supersede the common law defaults. Our analysis is based on an understanding of two fundamental problems that arise when agency...
Persistent link: https://www.econbiz.de/10005076642
Using a sample of fisheries managed under the Magnuson Act, a probit model of the probability of property rights adoption is estimated. The probability of adoption increases as ex–vessel revenue increases and as proxies for transaction costs decrease.
Persistent link: https://www.econbiz.de/10005076643
This study compares transition processes in countries of Central and Eastern Europe, the former Soviet Union (FSU) and sub-Saharan Africa. By widening the scope from most- to least-developed transition economies, the study establishes the importance of a strong state with evolved institutional...
Persistent link: https://www.econbiz.de/10005076830
The standard view that the absence of property rights is inefficient contradicts the Coasean proposition that the relative efficiency of different institutions depends on their ability to economize on transaction costs. Moreover, the comparative theory of open access and private property...
Persistent link: https://www.econbiz.de/10005135079
This paper examines why some transitions are more successful than others by focusing attention on the role of productive, protective and predatory behaviors from the perspective of the new institutional economics. Many transition economies are characterized by a fundamental inconsistency between...
Persistent link: https://www.econbiz.de/10005062456
The transition from a planned to a market oriented economy requires a complex amalgam of stabilization, liberalization and privatization policies. This paper outlines a combination of policies believed to be necessary, if not sufficient to enlist the efficiency of market mechanisms along with a...
Persistent link: https://www.econbiz.de/10005062463
This paper develops a proxy measure of the inequality of influence on the basis of survey evidence from 2002 Business Environment and Enterprise Performance Survey (BEEPS) conducted among 6,500 firms in 27 transition countries. We refer to the resulting inequality as crony bias in the political...
Persistent link: https://www.econbiz.de/10005407672
This paper develops a partial equilibrium model to account for stylized facts about the behavior of oligarchs, politically and economically strong conglomerates in transition and developing countries. The model predicts that oligarchs are more likely than other owners to invest in productivity...
Persistent link: https://www.econbiz.de/10005407700
We examine how globalization affects trade patterns and welfare when conflict prevails domestically. We do so in a simple model of trade, in which a natural resource like oil is contested by competing groups using real resources ('guns'). Thus, conflict is viewed as ultimately stemming from...
Persistent link: https://www.econbiz.de/10005408071