In this paper we revisit the relationship between institutions, human capital and development. We argue that empirical … models that treat institutions and human capital as exogenous are misspecified both because of the usual omitted variable … focus on historically-determined differences in human capital and control for the effect of institutions, the impact of …

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. …

enabled these groups to demand, obtain, and sustain changes in institutions to protect their property rights. Furthermore, the … existing institutions placed some checks on the monarchy and particularly limited its control of overseas trading activities … the result of capitalist development driven by the interaction of late medieval institutions and the economic …

political power. The distribution of political power in society is in turn determined by political institutions and the … distribution of resources. Political institutions allocate de jure political power, while groups with greater economic might … with political institutions and the distribution of resources as the state variables. These variables themselves change …