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Joe is one a small group of influential economists who brought theorizing aboutdevelopment processes to a new level. In trying to understand the reasons why low pooreconomies remain so, he was among the first to appreciate the importance of informationand contracting issues. His seminal...
Persistent link: https://www.econbiz.de/10009248810
There is a well-known debate about the roles of geography versus institutions in explaining the long-term development … institutions and found that this supported their line of reasoning. We believe there is value-added to consider this debate at the … mechanisms from geography via institutions to economic development outcomes. In particular, we examine the determinants of …
Persistent link: https://www.econbiz.de/10010300161
An endogenous growth model with a financial sector is formulated, and empirical analyses are conducted. The model exhibits structural shifts and breaks caused by institutional change, suggesting that a linear approach is inadequate. To address this point empirically, we fit data for 90 countries...
Persistent link: https://www.econbiz.de/10010305439
We analyze the endogenous evolution of economic and political institutions and the interdependencies with the process … of economic development. Favorable economic institutions ensure the appropriability of rents in form of a state of law … necessary. Inequality in endowments and incomes prolongs the absence of good institutions and delays democratization. Conversely …
Persistent link: https://www.econbiz.de/10010262181
There is a well-known debate about the roles of geography versus institutions in explaining the long-term development … institutions and found that this supported their line of reasoning. We believe there is value-added to consider this debate at the … mechanisms from geography via institutions to economic development outcomes. In particular, we examine the determinants of …
Persistent link: https://www.econbiz.de/10010264330
There is a well-known debate about the roles of geography versus institutions in explaining the long-term development … institutions and found that this supported their line of reasoning. We believe there is value-added to consider this debate at the … mechanisms from geography via institutions to economic development outcomes. In particular, we examine the determinants of …
Persistent link: https://www.econbiz.de/10010265093
I reconsider the primacy of institutions over geography as an explanatory factor of cross-country differences in … specifications and samples. Unbiased estimates of the relative performance effects of institutions and malaria prevalence are … difficult to obtain due to a lack of independent instrumental variables. Conditional on a restricted effect of institutions, my …
Persistent link: https://www.econbiz.de/10010265632
Institutions are important for proper economic performance, but are replaceable by trust or other social norms. We show … that when proper institutions and trust are missing, integrity of the individuals can replace them. We construct a model of … a transactions-based economy with contracts preceding the transactions, and show that any one of (1) institutions, (2 …
Persistent link: https://www.econbiz.de/10010265978
entrepreneurial elite, resulting in economic policy and institutions which are more conducive to entrepreneurship and productivity …
Persistent link: https://www.econbiz.de/10010267484
sociopolitical institutions because they (a) involve a strong degree of increasing returns to scale and the natural monopoly powers …
Persistent link: https://www.econbiz.de/10010268511