, as well as studies of inequality and economic growth. The main conclusion is that there is little, if any, Swedish … exceptionalism: Sweden became rich because of well-functioning capitalist institutions, and inequality was low before the expansion … of the welfare state. The recent favorable growth record of Sweden, including the period of financial stress (2008 …

We present a growth model where agents divide time between rent seeking in the form of resource competition; and … incomes and high levels of rent seeking, interrupted by small failed growth spurts; this is eventually followed by a permanent … transition to a sustained growth path where rent seeking vanishes in the limit. We illustrate the workings of the model with …

political institutions and industry characteristics of the US, while the features of the second equilibrium better describe …

This is a game-theoretic analysis of the link between regime type and international conflict. The democratic electorate … can credibly punish the leader for bad conflict outcomes, whereas the autocratic selectorate cannot. For the fear of being …

We survey the literature on venture capital and institutions and present a case study comparing the development of the …

is enormous: billionaires. We explore the relationship between economic development, institutions, and these contrasting … kinds of entrepreneurs. We find that the institutions consistent with self-employed entrepreneurs di¤er markedly from the … ones consistent with billionaires. Further, only the latter are consistent with the institutions that underlie economic …

Previous research, notably Baumol (1990), has highlighted the role of insti-tutions in channeling entrepreneurial … institutions—entrepreneurs often help shape institutions themselves. The bilateral causal relation between entrepreneurs and … institutions is examined in this paper. Entrepreneurs affect institutions in at least three ways. Entrepreneurship abiding by …