in former European colonies. Where European colonizers settled, they replicated the investment-conducive institutions … the formation of institutions. We find the presence of precious metals, gold and silver, to imply an increase in …

This paper discusses a framework for analyzing robust institutions for water markets drawn on the new institutional … highest priority is given to the role of legal and political institutions and second priority to environmental, economic and …

institutions is important for growth. Yet our results strongly suggest that the weight of tourism in an economy is an independent …Is tourism an opportunity for lagging countries in the elusive quest for growth (Easterly, 2002)? Recent empirical … evidence suggests that the answer is a cautious yes. Aggregate cross-country data show that tourism specialization is likely to …

I study the coexistence of formal and informal finance in underdeveloped credit markets. While weak institutions …

. Finally, and more optimistically, when we consider our results in the context of institutions and growth, we conclude that …

of institutions. In this paper, I consider the case of firm concentration in Italy and its impact on local development. A … large and growing literature has argued in favour of persisting effects of past institutions on current outcomes. Hence, in …