Abstract: This paper estimates the relationship between various sub-indicators of economic freedom and life satisfaction for 122 countries. The estimation results show that life satisfaction is positively related to the quality of the legal system and protection of property rights. For poor...

A new line of theoretical and empirical literature emphasizes the pivotal role of fair institutions for growth.We present a model, a laboratory experiment, and a simple cross-country regression supporting this view.We model an economy with an unequal distribution of property rights, in which...

Abstract: Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the...

Abstract: We investigate the roles of legal origins and political institutions – believed to be the fundamental determinants of economic outcomes – in corporate social responsibility (CSR). We argue that CSR is an essential path to economic sustainability, and document strong correlations...

Purpose – Provide insight into the determinants or constructs that enable informally networked supply chains to operate in order to achieve improved operational performance. Design/methodology/approach – The research is based on a wide literature review, focused on the identification of...

This paper develops extensive new data on the legal independence of new central banks in 26 former socialist economies (FSE).This data is constructed using the codification system for measuring legal independence developed in Cukierman, Webb and Neyapti (1992) and in chapter 19 of Cukierman...

This paper analyzes the relations between social capital, institutions and trust.These concepts are full of ambiguity and confusion.This paper attempts to dissolve some of the confusion, by distinguishing trust and control, and analyzing institutional and relational conditions of trust.It...

In this paper we examine the impact of information on individual contributions in a public-bad experiment. We compare two experimental treatments. In the partial information treatment, subjects are only informed about the total contributions by their group, whereas in the full information...

Limit core allocations are the ones that remain in the core of a replicated economy.An equivalent notion for economies with public goods is Schweizer s concept of club e ciency under a variable number of economic agents.We extend this notion to economies with goods that have a semi-public...