Using different cross-country data sets and simple econometric techniques we study public attitudes towards the police. More positive attitudes are more likely to emerge in the countries that have better functioning democratic institutions, less prone to corruption but enjoy more transparent and...

Abstract: This article explores the inter-relationship of collective action within the business community, the nature of the political regime and the security of firms’ property rights. Drawing on a pair of surveys recently administered in Russia, we present evidence that post-communist...

Among the causes of differences in financial development, “institutions†have received considerable attention in recent years. In this context, the question of which institutions promote financial development seems particularly important. Therefore, the theories that explain the...

This is the first paper to investigate whether the number of high courts in a country has systematic effects both on the quality of its legal system and on its level of economic development more generally. It is theorized that due to the division of labor and a higher degree of specialization,...

The emergence of new communication methods that allow transfer of information in real time and with great precision resulted in their use and trade. Expanding market - which has become an international - did these modern means of communication to be included in trade, by increasing their speed...

Property rights institutions significantly hinder firm productivity but not contracting institutions in China. Weakening property rights institutions by a standard deviation lowers firm productivity by 34.4% of its corresponding standard deviation. Small firms find weak property rights...

Traditional political-economy wisdom implies that independent judicial review is a commitment device, used by politicians to credibly validate policies they sell to special-interest groups. This study suggests a somewhat opposite thesis, whereby independent judicial review allows politicians to...

This paper analyzes Spanish companies’ growing need for funding in a crisis context, focusing on one of the most relevant sectors in the Spanish economy: the Spanish tourism sector. Specifically, we will be looking at the twelve main hotel chains. We also provide a brief overview of the main...

This paper examines recent attempts to rehabilitate pre-modern craft guilds as efficient economic institutions. Contrary to rehabilitation views, craft guilds adversely affected quality, skills, and innovation. Guild rent-seeking imposed deadweight losses on the economy and generated no...