Infolge der Regionalisierung von Wirtschafts- und Strukturpolitik entstehen entweder vollkommen neue Institutionen (horizontale Regionalisierung) oder Institutionen mit neuen Kompetenzen (vertikale Regionalisierung). Der Erfolg einer Regionalisierungspolitik läßt sich am Grad der...

Institutions and their quality are central concepts in the recent development and institutional economics literatures. Our hypothesis is that inadequate contract enforcement has hindered investment and, in consequence, indirectly has had a negative effect on Uruguay's long-term growth...

Theodore Roosevelt used the US military to create what he called quot;civilized societies.quot; A growing literature focuses on the economic benefits of empires, benefits sometimes referred to as quot;global public goodsquot;. Some authors, such as Mitchener and Weidenmier (2005) and Ferguson...

This Article argues that the norms and legal practices of global finance in the arenas of sovereign debt and private wealth have led to a significant market failure, in particular the over-supply of sovereign borrowing and a related misallocation of global capital away from its most productive...

This article discusses and analyzes the sources and methods used by Leon Duguit in constructing the social-obligation or social-function norm of property as set out in an influential series of lectures in Buenos Aires published in 1912. The work of Henri Hayem has been underappreciated in the...

This paper attempts to characterize the optimal structure of indirect taxes for Brazil, that is, the indirect tax structure that would allow the government to achieve certain redistributional objectives and raise enough revenue to finance its expenditures at the least possible cost in terms of...

The literature on taxation of rents from nonrenewable resources uses different theoretical assumptions and methods and a variety of empirical observations to arrive at widely diverging conclusions. Many studies use models and methods which disregard uncertainty, investigating distortionary...

This paper examines the endogeneity (or lack thereof) of the rate of capacity utilization in the long run at the firm level. We provide economic justification for the adjustment of the desired rate of utilization toward the actual rate on behalf of a cost-minimizing firm after examining the...

In this essay, we argue that there is no scientific basis for the assumption that own well-being or command over resources is the exclusive and immutable concern of human individuals. The natural sciences, evolutionary biology in particular, and other social and behavioral sciences, especially...