This paper examines one of the central hypotheses of the New Institutional Economics: that the reform of institutions--the rules and regulations enforced by the State that both permit and bound the operation of markets--is crucial for the process of economic growth. It examines this hypothesis...

Millions of immigrants chose Argentina as the land of opportunity during the era of mass migration. Two immigrant groups, Italians and Spaniards, dominated the immigration flows. Despite higher literacy and their linguistic advantages, in Buenos Aires Spaniards fared worse when compared to...