growth, development policy, market/government failure, institutions, spillovers, stylised facts. …

investigate how patterns of bilateral trade are affected by variation in the quality of institutions across countries. JEL codes …: F14, F15 Keywords: institutions, bilateral trade, gravity model, sectoral analysis, markets …

literature focuses on individual contributions, many real-world problems involve the formation of institutions among subgroups … coalitions in different institutions and compares those to a voluntary contribution mechanism. The experiment confirms the rather … smallest common denominator being binding. The experiment thereby shows that the acceptance of institutions depends on how …

examine the role of institutions in the reconstruction and we find that corruption and fraudulent behaviors flourish when … local institutions are weak and amount of public transfers is huge. …

(in terms of market access to Mediterranean and European countries) and institutions (presence of Mafia-type crime … statistical, economic and political institutions) and were elaborated in order to create specific indices. All together, they …

'). The more generalized trust is, it is expected that there will be more cooperation. Furthermore strong institutions that … role of institutions; since it is difficult to evaluate the effective contribution of formal institutions to economic … performance. The simple existence of institutions, understood as formal 'rules of the game', does not guarantee that they are …

The number of firm bankruptcies is surprisingly low in economies with poor institutions. We study a model of bank …. We show that institutions must improve significantly in order to yield a stable equilibrium in which the optimal number … of firms is liquidated. There is also a range where improving institutions may decrease the number of bad firms …