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Race v. Suffrage: The Determinants of Development in Mississippi

Bertocchi, Graziella; Dimico, Arcangelo - C.E.P.R. Discussion Papers - 2011

1950s. Finally, we turn to the determinants of a broad array of development indicators for the year 1960 and for the 1960 …

Persistent link: https://www.econbiz.de/10009321839

The Evolution of the Racial Gap in Education and the Legacy of Slavery

Bertocchi, Graziella; Dimico, Arcangelo - C.E.P.R. Discussion Papers - 2011

We study the evolution of racial educational inequality across US states from 1940 to 2000. We show that throughout …

Persistent link: https://www.econbiz.de/10009399722

Was Prometheus Unbound by Chance? Risk, Diversification and Growth

Acemoglu, Daron; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 1996

This paper offers a theory of development which links the degree of market incompleteness to capital accumulation and … growth. At early stages of development, the presence of indivisible projects limits the degree of risk … inability to diversify idiosyncratic risks introduces high uncertainty in the growth process. The typical development pattern …

Persistent link: https://www.econbiz.de/10005124312

Agency Costs in the Process of Development

Acemoglu, Daron; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 1996

early stages of development, the range of projects and the amount of information are limited and agency costs are high … investigation of the development of financial institutions. We contrast the information aggregation role of stock markets and … information production role of banks. Because the amount of available information increases with development, our model predicts …

Persistent link: https://www.econbiz.de/10005136536

Slavery, Education, and Inequality

Bertocchi, Graziella; Dimico, Arcangelo - C.E.P.R. Discussion Papers - 2010

We investigate the impact of slavery on the current performances of the US economy. Over a cross section of counties, we find that the legacy of slavery does not affect current income per capita, but does affect current income inequality. In other words, those counties that displayed a higher...

Persistent link: https://www.econbiz.de/10008680759

Productivity Differences

Acemoglu, Daron; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2000

Many technologies used by the LDCs are developed in the OECD economies and are designed to make optimal use of the skills of these richer countries' workforces. Differences in the supply of skills create a mismatch between the requirements of these technologies and the skills of LDC workers, and...

Persistent link: https://www.econbiz.de/10005114308

Setting Standards: Information Accumulation in Development

Acemoglu, Daron; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 1997

This paper proposes a model in which economic relations and institutions in advanced and less-developed economies differ as these societies have access to different amounts of information. This lack of information makes it hard to give the right incentives to managers and entrepreneurs. We argue...

Persistent link: https://www.econbiz.de/10005667121