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We measure risk attitudes in 30 different countries in a controlled, incentivized experiment (N = 3025). At the macroeconomic level, we find a strong and highly significant negative correlation between the risk tolerance of a country and income per capita. This gives rise to a paradox, seen that...
Persistent link: https://www.econbiz.de/10010955058
The paper examines the notion of a 'developmental state' and shows that China possesses the characteristics of a … developmental state.  It explains the political economy which generated such a state in China and in some other economies.  It … the question: can China's developmental state be sustained?  Conclusions are drawn for both China and other developing …
Persistent link: https://www.econbiz.de/10011004485
The paper examines the notion of a ‘developmental state’ and shows that China possesses the characteristics of a … developmental state. It explains the political economy which generated such a state in China and in some other economies. It … the question: can China’s developmental state be sustained? Conclusions are drawn for both China and other developing …
Persistent link: https://www.econbiz.de/10010570045
Persistent link: https://www.econbiz.de/10005037401
This paper provides a review and synthesis of the findings of the second phase of a research project on institutions and long-run economic performance. It discusses research findings in five areas, namely (1) the relationship between institutional characteristics and the duration of economic...
Persistent link: https://www.econbiz.de/10010856310
From Adam Smith’s perspective, the most prominent macroeconomic happening of the post-World War II period was not the Great Moderation, nor was it the recent Great Recession. Instead, it was the secular deceleration in economic growth occurring in the U.S., or the Great Deceleration. Smith’s...
Persistent link: https://www.econbiz.de/10011258534
China¡¯s economic growth since the reform and analyze the potential ones for China¡¯s future development. …
Persistent link: https://www.econbiz.de/10010929806
Corruption is a symptom and outcome of institutional deficiency, with potentially adverse effects on economic growth. This paper aims to provide a synthesis of the existing evidence on the relationship between corruption and economic growth - controlling for effect type, data sources, and...
Persistent link: https://www.econbiz.de/10009372561
This study attempts to analyse the impact of fiscal decentralisation on economic growth. It also examines the complementarity between fiscal decentralisation and democratic institutions in promoting growth. The modelling framework is the endogenous growth model augmented with the measures of...
Persistent link: https://www.econbiz.de/10010660298
Based on the various works on the relevance of the institutional arrangements for a country’s economic performance, this paper studies the role and the determinants of the reform policies for the development paths of the transition countries. Looking at the U.S.S.R breakdown as an extremely...
Persistent link: https://www.econbiz.de/10010819049