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property rights, contracting, and competition institutions is positively related to an increase in the level of credit to the …
Persistent link: https://www.econbiz.de/10010712049
to initiate adequate investment incentives. Using a two-equation estimation approach, a direct competition effect (more … service competition increases the supply of infrastructure) can be disentangled from an indirect effect (more service … competition increases the demand for infrastructure quality and, as a consequence, increases the supply of infrastructure). While …
Persistent link: https://www.econbiz.de/10008701353
We develop a framework that examines the organizational challenges faced by central rulers governing large territories, where administrative power needs to be delegated to local elites. We describe how economic change can motivate rulers to empower different elites and emphasize the interaction...
Persistent link: https://www.econbiz.de/10014576570
We document empirical support for a key micro-level channel --- innovation by young, private firms --- through which financial sector deregulation affects economic growth. We find that intrastate banking deregulation, which increased the local market power of banks, decreased the level and risk...
Persistent link: https://www.econbiz.de/10013035909
President Donald Trump and members of his Administration repeatedly asserted that they had delivered substantial deregulation that fueled positive trends in the U.S. economy prior to the COVID pandemic. Drawing on an original analysis of data on federal regulation from across the Trump...
Persistent link: https://www.econbiz.de/10013244662
In models of political economy, institutionalization of free and open elections is presented as infusing competition … democratic regime and contributed to the demise of the country. I argue that nobles' democracy emerged from competition between …
Persistent link: https://www.econbiz.de/10013063731
market players fervently hoped for a bigger market. The regulatory competition between the US and the EU is more replica of …
Persistent link: https://www.econbiz.de/10014218900
This paper presents a survey of the literature on property rights and economic growth. It discusses different theoretical mechanisms that relate property rights to economic development. Lack of protection of property rights can result in slow economic growth through different channels:...
Persistent link: https://www.econbiz.de/10010320102
This paper investigates the determinants of economic growth emphasizing the role of institutional quality, social fragmentation, and increasing global integration on recent growth experience. Our longitudinal data consists of 103 countries covering the period 1992-2005. We find that democracies...
Persistent link: https://www.econbiz.de/10010282215
This paper presents an integrated overview of the literature linking institutions, financial development and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional...
Persistent link: https://www.econbiz.de/10011290078