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Three important aspects of development—per capita income, state capabilities, and (the absence of) political violence—are correlated with each other at the country level. This article discusses the causes of such development clusters and highlights two explanations: common economic,...
Persistent link: https://www.econbiz.de/10011004693
country’s institutions are reflected in the costs of increasing tariffs, it can be shown that countries with strong … institutions gain more (in terms of growth) from trade than countries with weak institutions, due to the effect of institutions on … trade policy. It is also possible to show that the quality of institutions in one country can spill over into another by …
Persistent link: https://www.econbiz.de/10010555923
The present economic and financial crisis is taking place at the climax of a period in which mainstream economic theory, on the one hand, and global financial liberalization on the other, had given credit once again to the self-regulatory ability of markets, which also seemed to find...
Persistent link: https://www.econbiz.de/10010968842
Twelve years into transition process, Serbia doesn’t have consistent, if any, let alone coherent economic development policy. This review is therefore aimed at Serbian (and alike transition countries’) policy-makers and stake-holders in an effort to distill the ever-green lessons available...
Persistent link: https://www.econbiz.de/10010969068
We study economic growth in four emerging economies – Brazil, Russia, India, and China (BRIC). Questions addressed are: (a) How do mediumterm growth determinants differ from short term determinants? (b) What are differences between growth effects of aggregate versus disaggregated exports? (c)...
Persistent link: https://www.econbiz.de/10010991473
This paper provides a review and synthesis of the findings of the second phase of a research project on institutions … institutional characteristics and the duration of economic slumps; (2) the relative importance for growth of institutions, trade … openness and geography; (3) the determinants and consequences of state capacities; (4) the interactions between institutions …
Persistent link: https://www.econbiz.de/10010856310
This volume was prepared by Erik Hornung while he was working in the Department Human Capital and Innovation of the Ifo Institute. It was completed in December 2012 and accepted as a doctoral thesis by the Economics Department of the University of Munich (LMU). The thesis consists of four core...
Persistent link: https://www.econbiz.de/10010877516
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/10010877698
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/10010877727
contingent on a country's level of financial development and the quality of its institutions. …
Persistent link: https://www.econbiz.de/10010882976