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institutions, natural resource rents cease to have a negative impact on long-term growth. Institutions in resource-based economies …
Persistent link: https://www.econbiz.de/10011472013
This paper develops the empirical and theoretical case that differences in economic institutions are the fundamental … cause of differences in economic development. We first document the empirical importance of institutions by focusing on two … “quasi-natural experiments” in history, the division of Korea into two parts with very different economic institutions and …
Persistent link: https://www.econbiz.de/10014023781
constraints on productive entrepreneurship would require that the decline in level-two institutions, such as democracy and science …We review Baumol's typology of productive, unproductive and destructive entrepreneurship. We argue that the typology is … the thesis that entrepreneurship has become less productive, due to the unintended effects of entrepreneurship policies …
Persistent link: https://www.econbiz.de/10014335837
as main agents of entrepreneurship in the BiH. …
Persistent link: https://www.econbiz.de/10012012467
In his recent paper in JET, Gonzalez (2007) issues a warning that gradual improvement in property rights enforcement may sometimes backfire and hurt social welfare through its unintended instigation of appropriative activities. By introducing a new property-rights parameter within the...
Persistent link: https://www.econbiz.de/10009778507
The present paper analyzes the impacts of total labor productivity and efficiency in Oman State. As a Gulf state it has depended on oil production for its economic life for the past decades. However, it was typically known for traditional industries and trade, helped by her long sea shores and...
Persistent link: https://www.econbiz.de/10014172608
This paper shows how the interaction between conflict and growth can give rise to a nonmonotone relationship between property rights and social welfare. This interaction is illustrated in a model of endogenous growth in which equilibrium diversion of resources is the cost of securing effective...
Persistent link: https://www.econbiz.de/10014199843
Persistent link: https://www.econbiz.de/10010191026
A central argument for increased protections of property rights (PR) is the role they play in encouraging economic transactions, investment and economic growth. Likewise, the utilitarian justification of intellectual property laws is that such rights promote creative inventions and innovation,...
Persistent link: https://www.econbiz.de/10013205118
A fundamental requirement of market economies is the security of ownership claims to property. Yet history is littered with cases of challenges to these claims. A large literature has found contradictory evidence for the effect of income and income inequality on revolt, possibly due to omitted...
Persistent link: https://www.econbiz.de/10010519062