relatively stable democracy to autocracy and 6 episodes of small improvements in representative institutions. We also classify …, trade openness and proxies of early institutions. …

This survey reviews the recent research on trust, institutions and economic development. It discusses the various … institutions and policies can affect trust and promote pro-social behaviors. …

This paper challenges cross-sectional findings that democratic institutions have a negligible direct effect on economic … institutions. We study democratization in a before-after event study approach that enables us to control for time-invariant country … representative institutions on economic activity. They also favour Friedrich Hayek (1960)’s idea that the merits of democracy appear …