Recommended readings (Machine generated): Henry Hansmann (1988), 'Ownership of the Firm', Journal of Law, Economics, and Organization, IV (2), Fall, 267-304 -- Paul H. Rubin (1978), 'The Theory of the Firm and the Structure of the Franchise Contract', Journal of Law and Economics, 21 (1), April,...

"Mo and Weingast study three critical turning points in South Korea's remarkable transformation and offer a new view of how Korea was able to maintain pro-development policies with sustained growth by resolving repeated crises in favor of rebalancing and greater political and economic...

Italy is a country of recent decline and long-standing idiosyncratic traits. A rich society served by an advanced manufacturing economy, where the rule of law is weak and political accountability low, it has long been in downward spiral alimented by corruption and clientelism. From this spiral...

"There have been two global financial crises in the past century: the Great Depression of the 1930s and the Great Recession that began in 2008. Both featured loose credit, precarious real estate and stock market bubbles, suspicious banking practices, an inflexible monetary system, and global...