Showing 1 - 10 of 3,785
Persistent link: https://www.econbiz.de/10009714652
This paper argues that openness to goods trade in combination with an unequal distribution of political power has been a major determinant of the comparatively slow development of resource- or land-abundant regions like South America and the Caribbean in the nineteenth century. We develop a...
Persistent link: https://www.econbiz.de/10011450834
Persistent link: https://www.econbiz.de/10012667790
(proxied by individual values) interacts with the stickiest formal institutions in development, which leads to a very special …-togetherness" of values and institutions. Besides establishing that both values and sticky formal institutions are strong determinants … of long-run income, I find that the "stuck-togetherness" of values and institutions acts as a separate factor in …
Persistent link: https://www.econbiz.de/10012259724
Persistent link: https://www.econbiz.de/10011667785
Persistent link: https://www.econbiz.de/10012203677
This study examines the critical interplay between institutional and cultural backgrounds and their collective impact on economic development, suggesting that their synchronized evolution-timing, pace, and direction-boosts economic development, while misalignment hinders it. It seeks to...
Persistent link: https://www.econbiz.de/10014635955
Persistent link: https://www.econbiz.de/10012225066
Persistent link: https://www.econbiz.de/10012177115
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