role of institutions and macroeconomic fundamentals on countries' adjustment to shocks. Our empirical analysis shows that … the associations of growth level, growth volatility, shocks, institutions, and macroeconomic fundamentals have changed in …

. This result persists even after controlling growth for the quality of institutions. We also find that higher volatility of … the self-financing ratios is associated with lower growth rates, and that better institutions are associated with lower …

role of institutions and macroeconomic fundamentals on countries' adjustment to shocks. Our empirical analysis shows that … the associations of growth level, growth volatility, shocks, institutions, and macroeconomic fundamentals have changed in …

perspective of the evolutionary approach to institutions, the formation of a new currency area is not unidirectional. The process … leading to the euro is an example of a common upbeat and optimistic attitude to the formation of new institutions. Such a …] and of the agents [consumers and households]. Next, the paper reviews the evolution of institutions buffering the …

the drop in regulations induced by a no-crisis, good luck run. The challenges facing the regulator are aggravated by … prudential regulations and information disclosure, enforced by the domestic regulator …