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This is Part 2 of a two-part paper which surveys the historical evidence on the role of institutions in economic growth … that private-order institutions have not historically substituted for public-order ones in enabling markets to function …, clarify the growth effects of other institutions, including contract-enforcement mechanisms, guilds, communities, serfdom, and …
Persistent link: https://www.econbiz.de/10010371915
This is Part 1 of a two-part paper which surveys the historical evidence on the role of institutions in economic growth … that private-order institutions have not historically substituted for public-order ones in enabling markets to function …, clarify the growth effects of other institutions, including contract-enforcement mechanisms, guilds, communities, serfdom, and …
Persistent link: https://www.econbiz.de/10010371916
This paper examines the effect of trade integration and comparative advantage on one of a country's institutions, which …
Persistent link: https://www.econbiz.de/10011615513
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/10012299758
What factors affect the diffusion of new economic institutions? This paper examines this question exploiting the … 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 …
Persistent link: https://www.econbiz.de/10011717162
regulation on the probability of a crisis. We test this relationship by applying a Probit model of a non-linear specification to …: it rises as regulation stringency moves from low to medium levels and falls from medium to high levels. Countries located …
Persistent link: https://www.econbiz.de/10012030889
. More competition-friendly regulations, as measured by the OECDs' Product Market Regulation (PMR) indicator improve economic … non-OECD countries. The findings suggest that the quality of institutions matters to a large extent for economic outcomes … businesses boost the capital stock and the employment rate. No robust link between labour market regulation and MFP and capital …
Persistent link: https://www.econbiz.de/10011800715
experiences in other areas suggesting that competition could provide large benefits to hitherto regulated utilities in local …
Persistent link: https://www.econbiz.de/10011402612
Regulators have long been aware of the social aspects of communication. In the past, regulated monopolists have provided Universal Service Obligations, typically funded via a system of cross-subsidies. In this paper, we first review the rationale for imposing Universal Service Obligations, based...
Persistent link: https://www.econbiz.de/10011409371
, private competition, and tracking have been found to be important sources of international differences in student achievement. …
Persistent link: https://www.econbiz.de/10011489307