List of tables -- List of figures -- Comparative analysis -- The five phases of economic development and institutional evolution in China, Japan and Korea / M. Aoki -- Social organizations, risk sharing institutions and economic development / A. Greif, M. Iyugun & D. Sasson -- Before and beyond...

This paper studies the intangible costs of international trade by extending the basic gravity equation with measures of cultural and institutional distance, and institutional quality. Analyzing a sample of bilateral trade flows between 92 countries in 1999, we find that institutional distance...