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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/10013316895
change is needed. The rigid system is preferable at early stages of technological development, when (lack of) commitment …
Persistent link: https://www.econbiz.de/10009150639
We estimate the effect of broadband infrastructure, which enables high-speed internet, on economic growth in the panel of OECD countries in 1996-2007. Our instrumental-variable model derives its non-linear first stage from a logistic diffusion model where pre-existing voice-telephony and...
Persistent link: https://www.econbiz.de/10013116573
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/10012947993
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Persistent link: https://www.econbiz.de/10011617101
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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/10013125358
The economic impact of an institutional transplant depends on the underlying cultural environment of the receiving country. This paper provides the first evidence that the positive effect of importing good institutions cancels out when the receiving territories are characterized by cultural...
Persistent link: https://www.econbiz.de/10013000827
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/10013157657