This paper seeks to quantify the impact of transaction costs on cross-country economic growth. Our evidence from a cross-country panel data regression analysis reveals a persistent and robust negative effect of increasing transaction costs on the path of economic growth. The growth-enhancing...

This paper examines the contribution of administrative and procedural transaction costs to economic growth under common legal system. We show that administrative and procedural costs vary quite a lot even within the institutional environment sharing the common legal system. States with...

This paper seeks to quantify the functioning costs of Mexican property and contract law system for the sub-national panel of Mexican States and Mexico City and examine the respective effects of such increasing costs on sub-national paths of economic growth. Paper identifies a persistent negative...

In 2003, Denmark was the first industrialized country to outlaw the use of trans fats to tackle the harmful effects on human health. In 2009, Austria and Switzerland followed suit with the substantial restrictions on the use of trans fats. Other industrialized countries disfavored the ban and...

Do different pharmaceutical product liability regimes in different countries induce innovation or can they lead to potentially socially undesirable outcomes? We exploit the variation in pharmaceutical liability and litigation rules across firms in pharmaceutical industry and countries to explain...