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This paper shows the relationships between the mechanisms of decision in politics (harmony versus conflict) and the mechanisms of allocation in economics (hierarchy versus market) by means of ideal types. Under this approach one concludes that the market mechanism in economics and the conflict...
Persistent link: https://www.econbiz.de/10005005743
This article analyzes the monetary and institutional impacts of the domestic public debt in 19th century Colombia. It shows the nature of this debt and its evolution so as to ultimately sketch one side of the institutional matrix of that century. The article draws upon the New Economic...
Persistent link: https://www.econbiz.de/10005464612
This paper discusses how the theory on the role of institutions in development can be improved, by critically examining … the current orthodox discourse on institutions. To understand the relationship between institutions and economic …
Persistent link: https://www.econbiz.de/10005747230
perception of the legitimacy of the institutions. Market and the democracy are both equally essential for the existence of a Rule …
Persistent link: https://www.econbiz.de/10005747242
In 1980, Venezuelan income per capita in dollars was 1.4 times higher than that of Colombia, but in 2007, this ratio was reversed and the Colombian income was 1.1 higher than that of Venezuela. This result deserves an explanation, as both countries made similar structural reforms to allow a free...
Persistent link: https://www.econbiz.de/10005747271
program that emphasizes the historical studies of institutions and enriches economic analysis. Economic history should not be …
Persistent link: https://www.econbiz.de/10005697821
There has recently been a resurgence of interest in how institutions affect economic performance. A review of this … across the social sciences. This paper discusses what factors unify the different definitions of institutions, and develops a … concept of institutions useful for the analysis of economic performance, and economic growth in particular. Specifically, it …
Persistent link: https://www.econbiz.de/10005697829
During the twentieth century Uruguay showed marked cyclical fluctuations. In particular, in the last decades Uruguay exhibited periods of significant growth which turned out not to be sustainable and ended in deep crises. In this paper we intend to help explain Uruguay’s cyclical volatility by...
Persistent link: https://www.econbiz.de/10009131189
after economic openness, through two periods: 1960-1990 and 1991-2007. It shows that quality of state´s institutions and …
Persistent link: https://www.econbiz.de/10009131570
This article uses the different mortality rates of European colonialists to estimate the effect of institutions on … rates were high they did not settle, but set up extractive institutions that exist to the present day. By exploring the … able to estimate the long-term effect of colonial institutions on per capita income. …
Persistent link: https://www.econbiz.de/10005557789