still optimal if output stabilization mechanisms such as risk-sharing institutions, are in place to cope with asymmetric …

land. We show that: (i) lower discount rates and stronger institutions decrease deforestation; (ii) depreciations in the …) paradoxically, better institutions may exacerbate the deleterious impact of depreciations in developing countries. These hypotheses …

analyses of Williamson and Granovetter, North's definition of institutions as "rules of the game" allows him to conceive of … institutions as the institutional foundations of the market and therefore as explanatory principles of historical dynamics. …

rules and institutions they face. This allows to proxy the bailout expectations in both countries and their role in …

This article analyses through a rent seeking model, the relationship between institutions' quality and natural … resources. Depending on the institutions quality, each country has a specific structural capacity to stand natural resources … resources begin to have a negative impact on institutions. As the stock of natural resources increases, this improves the …