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The Growth Effects of Institutional Instability

Berggren, Niclas; Bergh, Andreas; Bjørnskov, Christian - Ratioinstitutet - 2009

Both institutional quality and institutional stability have been argued to stimulate economic growth. But to improve institutional quality, a country must endure a period of institutional change, which implies at least a little and possibly a lot of institutional instability. We investigate the...

Persistent link: https://www.econbiz.de/10005245150

Markets vs. Government when Rationality Is Unequally Bounded: Some Consequences of Cognitive Inequalities for Theory and Policy

Pelikan, Pavel - Ratioinstitutet - 2006

Recognizing that human rationality has bounds that are unequal across individuals entails treating it as a special scarce resource, tied to individuals and used for deciding on its own uses. This causes a meta-mathematical difficulty to the axiomatic theories of human capital and resource...

Persistent link: https://www.econbiz.de/10005196904

Interconnecting Ecolutionary, Institutional and Cognitive Economics: Six Steps towards Understanding the Six Links

Pelikan, Pavel - Ratioinstitutet - 2004

Many students of evolutionary, institutional, and cognitive economics have been aware that important links among these fields exist, and several authors have worked on bringing these links to light. Nevertheless, large parts of these links still remain poorly understood. Low interest in...

Persistent link: https://www.econbiz.de/10005196905

The Institutions of Economic Freedom and Entrepreneurship: Evidence from Panel Data

Nyström, Kristina - Ratioinstitutet - 2008

This paper provides new evidence on the determinants of entrepreneurship across countries. The paper investigates the relationship between the institutional setting, in terms of economic freedom, and entrepreneurship, as measured by self-employment in a panel data setting covering 23 OECD...

Persistent link: https://www.econbiz.de/10005771027

Bringing Institutions Into Evolutionary Economics: Another View with Links to Changes in Physical and Social Technologies

Pelikan, Pavel - Ratioinstitutet - 2003

Like Nelson (2002), I make a case for bringing institutions into evolutionary economics. But unlike Nelson, who defines … institutions as social technologies consisting of rules-routines, I define them in agreement with North (1990) as humanly devised … communicating with modern institutional analysis, for clarifying how institutions can influence, and be influenced by, changes in …

Persistent link: https://www.econbiz.de/10005419159

Securing Constitutional Government: The Perpetual Challenge

Ratnapala, Suri - Ratioinstitutet - 2003

Constitutional government is an ideal and like all ideals can only be achieved as an approximation. Even those countries that appear to be near the ideal are revealed on examination to be not so near. Constitutional government, to the extent it is achieved reflects a state of affairs. It remains...

Persistent link: https://www.econbiz.de/10005419164

Property Rights and Economic Growth

Rosenberg, Nathan - Ratioinstitutet - 2003

My main purpose is to connect the issue of property rights to the set of questions concerning economic growth and the long-term determinants of the improvements in material well-being. To anticipate what will be my main conclusion, it is that property rights and economic growth are not...

Persistent link: https://www.econbiz.de/10005419171

The Determinants of Trust

Bjørnskov, Christian - Ratioinstitutet - 2006

During the last 15 years, the social capital literature has grown rapidly. In particular after Robert Putnam’s (1993) study of regional governments in Italy, the interest among economists and politologists exploded as Putnam showed that the concept could be used in quantitative explanations of...

Persistent link: https://www.econbiz.de/10005642413

Ulysses and the Rent-Seekers: The Benefits and Challenges of Constitutional Constraints on Leviathan

Kurrild-Klitgaard, Peter - Ratioinstitutet - 2005

. A constitutionally constrained government may be viewed as an attractive arrangement in that it may limit the rent-seeking behavior by narrowly motivated special interest groups and instead support policies of a Pareto-improving character. However, the introduction of constitutional...

Persistent link: https://www.econbiz.de/10005642440

Institutional Ownership and the Returns on Investment

Bjuggren, Per-Olof; Eklund, Johan; Wiberg, Daniel - Ratioinstitutet - 2008

By examining a large number of Swedish listed firms, we analyse how institutional and foreign owners affect investment performance. To measure investment performance Mueller and Reardon’s (1993) marginal q is used, although derived directly from Tobin’s average q. Marginal q measures the...

Persistent link: https://www.econbiz.de/10005642441