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In this paper, I explore the politically contested association between the degree of capitalism, captured by measures of economic freedom, and the risk and characteristics of economic crisis. After offering some brief theoretical considerations, I estimate the effects of economic freedom on...
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that strong rule of law institutions may ameliorate the possible adverse effects of political and economic crises on … heterogeneous effects depending on the type of crisis and how we measure it. We find that rule of law institutions can control …
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