There is a broad agreement that political and economic institutions matter for long-term development. Yet relatively … little is known as to how to adopt good quality institutions and reform weak or poor institutions, for which one needs to … know how institutions change. This paper provides a systematic econometric investigation of long-run patterns of …

Institutions, defined as "the rules of the game in society", drive economic growth and prosperity. Institutions often … financial systems, contract enforcement) and informal (traditions, taboos, codes of conduct) institutions. Church …-state relationships hundreds of years ago affect informal institutions like work ethic, preferences for rationality or spirituality, and …