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Contract enforcement, institutions and social capital: the Maghribi traders reappraised

Edwards, Jeremy S. S.; Ogilvie, Sheilagh - 2008

Economists draw important lessons for modern development from the medieval Maghribi traders who, according to Greif, enforced contracts multilaterally through a closed, private-order coalition'. We show that this view is untenable. The Maghribis used formal legal mechanisms and entered business...

Persistent link: https://www.econbiz.de/10010273774

Justice delayed is growth denied : the effect of slow courts on relationship-specific industries in India

Amirapu, Amrit - 2017

Are well-functioning formal judicial institutions important for economic development, or can informal contracting arrangements provide adequate substitutes? This paper aims to answer this question using variation across industries in their reliance on contracts along with variation across Indian...

Persistent link: https://www.econbiz.de/10011638414

Reputations, relationships and the enforcement of incomplete contracts

MacLeod, W. Bentley - 2006

This paper discusses the literature on the enforcement of incomplete contracts. It compares legal enforcement to enforcement via relationships and reputations. A number of mechanisms, such as the repeat purchase mechanism (Klein and Leffler (1981)) and efficiency wages (Shapiro and Stiglitz...

Persistent link: https://www.econbiz.de/10010267674

Reputations, Relationships and the Enforcement of Incomplete Contracts

MacLeod, W. Bentley - Institute for the Study of Labor (IZA) - 2006

Persistent link: https://www.econbiz.de/10005233793

Contract enforcement and institutions among the Maghribi traders : refuting Edwards and Ogilvie

Greif, Avner (contributor) - 2008

reputation mechanism mitigated agency problems among the eleventh-century Maghribi traders. They assert that the relations among … agency relations were law-based. The quantitative analysis reveals that empirical basis for the multilateral reputation view … is stronger than originally perceived. This paper also sheds light on the roles of the legal system and reputation …

Persistent link: https://www.econbiz.de/10003730316

Contract enforcement, institutions and social capital : the Maghribi traders reappraised

Edwards, Jeremy S. S. (contributor); … - 2008

Persistent link: https://www.econbiz.de/10003662786

Contract Enforcement, Institutions and Social Capital : The Maghribi Traders Reappraised

Edwards, Jeremy; Ogilvie, Sheilagh - 2021

Economists draw important lessons for modern development from the medieval Maghribi traders who, according to Greif, enforced contracts multilaterally through a closed, private-order 'coalition'. We show that this view is untenable. The Maghribis used formal legal mechanisms and entered business...

Persistent link: https://www.econbiz.de/10013316556

Institutions and Economic Growth in Historical Perspective: Part 2

Ogilvie, Sheilagh; Carus, A. W. - 2014

This is Part 2 of a two-part paper which surveys the historical evidence on the role of institutions in economic growth. The paper provides a critical scrutiny of a number of stylized facts widely accepted in the growth literature. It shows that private-order institutions have not historically...

Persistent link: https://www.econbiz.de/10010398551

Institutions and Economic Growth in Historical Perspective: Part 1

Ogilvie, Sheilagh; Carus, A. W. - 2014

This is Part 1 of a two-part paper which surveys the historical evidence on the role of institutions in economic growth. The paper provides a critical scrutiny of a number of stylized facts widely accepted in the growth literature. It shows that private-order institutions have not historically...

Persistent link: https://www.econbiz.de/10010398594

Justice delayed is growth denied: The effect of slow courts on relationship-specific industries in India

Amirapu, Amrit - 2017

Persistent link: https://www.econbiz.de/10011801405

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