In recent years, institutions and institutional structure have become some of the most popular concepts analyzed by economics theory. New growth theories have especially focused on the effects of institutions and institutional structure on a macro level. Property rights are one of the most...

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...

We analyze the effects of different regimes of control rights over critical resources on the total domestic income of open economies. We consider home control, foreign control, and international partnerships in a theoretical model where contracts are incomplete, resource exploitation requires...