Why do some societies fail to adopt more efficient institutions in response to changing economic conditions? And why do … institutions. When new technologies emerge, uncertainty results from a lack of understanding how the technology will fit with … prevailing ideologies and institutions. This uncertainty discourages investment in institutions and the cultural capital …

Why do some societies fail to adopt more efficient political and economic institutions in response to changing economic … productivity, cultural beliefs and institutions. In our model, production shocks that benefit one sector of the economy may induce …

Indonesia on local public spending across communities with different types of local institutions. Our results provide evidence … well as a convergence in spending across communities with different types of local institutions.We develop a theoretical …

impurity is very low as long as one party's investment is more important than the other party's. If the parties' investments … the lowvaluation party. If the importance of the parties' investments is similar but the degree of impurity is neither …

Using firm-level data from nine developing countries we demonstrate that (a) certain institutions like restrictive … from being over, and classification of institutions into "good" and "bad" might be premature …