"Different economies at different times use different institutional arrangements to constrain the people entrusted with allocating the economy's capital and other resources. Comparative financial histories show these corporate governance regimes to be largely stable through time, but capable of...

"Although institutions are believed to be key determinants of economic performance, there is limited evidence on how they can be successfully reformed. The most popular strategy to improve local institutions in developing countries is "community driven development" (CDD). This paper estimates...