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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

Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development

Rodrik, Dani; Subramanian, Arvind; Trebbi, Francesco - C.E.P.R. Discussion Papers - 2002

We estimate the respective contributions of institutions, geography, and trade in determining income levels around the world, using recently developed instruments for institutions and trade. Our results indicate that the quality of institutions 'trumps' everything else. Once institutions are...

Persistent link: https://www.econbiz.de/10005667122

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

Economic Development as Self Discovery

Hausmann, Ricardo; Rodrik, Dani - C.E.P.R. Discussion Papers - 2002

In the presence of uncertainty about what a country can be good at producing, there can be great social value to discovering costs of domestic activities because such discoveries can be easily imitated. We develop a general-equilibrium framework for a small open economy to clarify the analytical...

Persistent link: https://www.econbiz.de/10005136685

What's So Special About China's Exports?

Rodrik, Dani - C.E.P.R. Discussion Papers - 2006

Much more than comparative advantage and free markets have been at play in shaping China's export success. Government policies have helped nurture domestic capabilities in consumer electronics and other advanced areas that would most likely not have developed in their absence. As a result, China...

Persistent link: https://www.econbiz.de/10005114180

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