We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual …-level, idiosyncratic risk implies that distinct risk-sharing institutions - even those providing the same level of insurance - can lead to … different growth trajectories if they differently motivate risk-taking. Historically, risk sharing institutions were selected …

. In doing so, it considers the main channels of transmission, to focus on international trade, investment, finance and …

overview of Chinas economic development from 1949 to present. Section III analyses the economic reform in the early 1980s. The … institutions are supportive to the reform or not and how to find a potential institution which can act as a facilitator and …

constraints on its development. Among the problems identified in this paper, we point to an impending demographic shift that will …

importance of knowledge of history for economic development. While the quality of the existing research on developing countries … contributes to our understanding of how institutions, path dependency, technological change and evolutionary processes shape … development, the factors behind economic disasters and the dynamics driving emerging success stories. …