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Institutions - the structures of rules and norms governing economic transactions - are widely assigned a central role in economic development. Yet economic history is still dominated by the belief that institutions arise and survive because they are economically efficient. This paper shows that...
Persistent link: https://www.econbiz.de/10010264182
This study exploits the confiscation and auctioning off of Church property that occurred during the French Revolution to assess the role played by transaction costs in delaying the reallocation of property rights in the aftermath of fundamental institutional reform. French districts with a...
Persistent link: https://www.econbiz.de/10012314909
change is needed. The rigid system is preferable at early stages of technological development, when (lack of) commitment …
Persistent link: https://www.econbiz.de/10010274865
that are more effective at preventing outsider’s entry and at mitigating price competition lead to less patenting. We test … restrict entry and price competition. We show that guilds which originated from medieval religious confraternities were more … likely to regulate entry and competition, and that the effect on patenting is robust to instrumenting guild statutes with …
Persistent link: https://www.econbiz.de/10011744918
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It is generally argued that, in the context of Imperial Germany, public primary education was used to form “loyal citizens” and to build a nation. In this paper we analyze to what extent central spending on primary education affected participation at general elections and votes for...
Persistent link: https://www.econbiz.de/10011555545
was affected by the action of some interest groups that pursued both state protection from competition and specific public …
Persistent link: https://www.econbiz.de/10010273796
The medieval Champagne fairs are widely used to draw lessons about the institutional basis for long-distance impersonal exchange. This paper re-examines the causes of the outstanding success of the Champagne fairs in mediating international trade, the timing and causes of the fairs' decline, and...
Persistent link: https://www.econbiz.de/10010274973