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Capitalizing China
Fan, Joseph P. H. - 2011
Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist …
Persistent link: https://www.econbiz.de/10013117212
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The Right Amount of Trust
Butler, Jeffrey V. - 2009
We investigate the relationship between individual trust and individual economic performance. We find that individual income is hump-shaped in a measure of intensity of trust beliefs. Our interpretation is that highly trusting individuals tend to assume too much social risk and to be cheated...
Persistent link: https://www.econbiz.de/10013156416
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Is Poland at Risk of a Boom-and-Bust Cycle in the Run-Up to Euro Adoption?
Eichengreen, Barry - 2008
We ask whether Poland is at risk of the boom-bust problem that has afflicted economies around the time of euro adoption …. Our answer, inevitably, is mixed. On the one hand the fact that Poland is an outlier, credit-growth wise, accentuates the … Poland. And it is certainly conceivable that the same policies and country characteristics (not always visible to the …
Persistent link: https://www.econbiz.de/10012769529
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The Economic Consequences of Legal Origins
La Porta, Rafael - 2010
In the last decade, economists have produced a considerable body of research suggesting that the historical origin of a country's laws is highly correlated with a broad range of its legal rules and regulations, as well as with economic outcomes. We summarize this evidence and attempt a unified...
Persistent link: https://www.econbiz.de/10012759683
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Crime and Punishment in the "American Dream"
Di Tella, Rafael - 2010
We observe that countries where belief in the quot;American dreamquot; (i.e., effort pays) prevails also set harsher punishment for criminals. We know from previous work that beliefs are also correlated with several features of the economic system (taxation, social insurance, etc). Our objective...
Persistent link: https://www.econbiz.de/10012760591
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Agency Problems and the Fate of Capitalism
Morck, Randall - 2010
the mitigation of this internal contradiction in capitalism. Firms need charters, regulations and laws to restrain those …
Persistent link: https://www.econbiz.de/10013136737
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From Centrally-Planned to Market Economies : The Road from Cpe to Pcpe
Calvo, Guillermo A. - 2010
This paper deals with the early stages of transformation of centrally-planned economies (CBEs) into market economies during which expectations playa key role. It focuses on the transitional phase during which the economy is not any more a CPE but has not yet become a market economy. During this...
Persistent link: https://www.econbiz.de/10013139423
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Medieval Universities, Legal Institutions, and the Commercial Revolution
Cantoni, Davide - 2012
We present new data documenting medieval Europe's "Commercial Revolution'' using information on the establishment of markets in Germany. We use these data to test whether medieval universities played a causal role in expanding economic activity, examining the foundation of Germany's first...
Persistent link: https://www.econbiz.de/10013107997
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Repugnance as a Constraint on Markets
Roth, Alvin E. - 2010
This essay examines how repugnance sometimes constrains what transactions and markets we see. When my colleagues and I have helped design markets and allocation procedures, we have often found that distaste for certain kinds of transactions is a real constraint, every bit as real as the...
Persistent link: https://www.econbiz.de/10012760526
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Learning the Wealth of Nations
Buera, Francisco J. - 2009
We study the evolution of market-oriented policies over time and across countries. We consider a model in which own and neighbors' past experiences influence policy choices, through their effect on policymakers' beliefs. We estimate the model using a large panel of countries. We find that there...
Persistent link: https://www.econbiz.de/10012765566