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equilibria. They also imply that factor distribution of income has an important impact on growth. Finally, the paper derives new …
Persistent link: https://www.econbiz.de/10005661582
. Economic institutions encouraging economic growth emerge when political institutions allocate power to groups with interests in …
Persistent link: https://www.econbiz.de/10014023781
Because of their more limited inequality and more comprehensive social welfare systems, many perceive average welfare … theoretical answers to this question, we develop a simple model of economic growth in a world in which all countries bene…t and … entrepreneurs (thus greater inequality) increases entrepreneurial e¤ort and hence a country’s contribution to the world technology …
Persistent link: https://www.econbiz.de/10011083861
We exploit differences in the mortality rates faced by European colonialists to estimate the effect of institutions on economic performance. Our argument is that Europeans adopted very different colonization policies in different colonies, with different associated institutions. The choice of...
Persistent link: https://www.econbiz.de/10014037165
We propose a model in which economic relations and institutions in advanced and less developed economies differ as these societies have access to different amounts of information. This lack of information makes it hard to give the right incentives to managers and entrepreneurs. We argue that...
Persistent link: https://www.econbiz.de/10014181298
curve in many Western economies during this period, with the fall in inequality following redistribution due to …
Persistent link: https://www.econbiz.de/10005791338
Persistent link: https://www.econbiz.de/10013485076
Persistent link: https://www.econbiz.de/10014006452
Is inequality harmful for economic growth? Is the underdevelopment of Latin America related to its unequal distribution … growth in general, but also that differences in economic inequality across the American continent during the 19th century are … of wealth? A recently emerging consensus claims not only that economic inequality has detrimental effects on economic …
Persistent link: https://www.econbiz.de/10005830802
We develop a dynamic theory of resource wars and study the conditions under which such wars can be prevented. The interaction between the scarcity of resources and the incentives for war in the presence of limited commitment is at the center of our theory. We show that a key parameter...
Persistent link: https://www.econbiz.de/10008788778