control group, I develop an empirical strategy that disentangles the partial effects of institutions and of endowments on … income. I find that institutions are the main determinant of development, but that endowments have a sizeable direct impact … mix up the effect of the historical determinants of institutions with the sizeable direct impact of access to trade and of …

I show how abundant land and scarce labor shaped African institutions before colonial rule. I present a model in which … suitable for agriculture, and in which population density was greatest. Next, I use the model to explain institutions among the … Egba of southwestern Nigeria from 1830 to 1914. While many Egba institutions were typical of a land-abundant environment …

intensifies. We find that the better the institutions and the more competitive the banking sector, the higher the bank's incentive …