crucial for economic growth. Thus, investing in education, R&D and innovation is essential for a country's prospects for …

on both sides of the long-gone border of the Habsburg Empire have been sharing common formal institutions for 90 years … increases current social capital and trust and reduces corruption in several public services. Past formal institutions can leave …

literature focuses on individual contributions, many real-world problems involve the formation of institutions among subgroups … coalitions in different institutions and compares those to a voluntary contribution mechanism. The experiment confirms the rather … smallest common denominator being binding. The experiment thereby shows that the acceptance of institutions depends on how …

probabilistic voting model, we show that a lack of financial institutions can lead more corruption as more voters are part of the … corrupt system. Well-functioning financial institutions, in turn, can increase the political support for anti …

The number of firm bankruptcies is surprisingly low in economies with poor institutions. We study a model of bank …. We show that institutions must improve significantly in order to yield a stable equilibrium in which the optimal number … of firms is liquidated. There is also a range where improving institutions may decrease the number of bad firms …

agricultural development literature has begun exploring the appropriate structure of third-party facilitated institutions and …