Analysis of the economic effects of constitutional rules has made substantial progress over the last decade. This survey provides an overview of this rapidly growing research area and also discusses a number of methodological issues and identifies underresearched areas. It argues that the next...

I argue that the rule of law consists of many dimensions and that much information is lost when variables proxying for these dimensions are simply aggregated. I draw on the most important innovations from various legal traditions to propose a concept of the rule of law likely to find general...

This paper examines recent attempts to rehabilitate pre-modern craft guilds as efficient economic institutions. Contrary to rehabilitation views, craft guilds adversely affected quality, skills, and innovation. Guild rent-seeking imposed deadweight losses on the economy and generated no...

The collapse of the communist system during the late 1980’s redefined the hierarchy among Central and Eastern European Countries (CEECs) and the former USSR. Some of these countries joined the EU ; some did not ; others formed the CIS . In particular, institutions, mainly market and political...

The role of institutions in the social and economic development is widely recognized in recent literature on economics of institutions. Economic history provides many examples of bad and good institutional structures, environments, and ways of organizing the social life and relationships between...

Although, the need for an efficient Roma integration policy is growing in Europe, surprisingly little robust scientific evidence regarding potential policy costs and expected benefits of alternative policy options has supported the policy design and implementation so far. The present study...

Institutions play a critical role in the economic development of a country. The correlation between these two variables has been acknowledged in economic literature. However, the causal relationship is still under debate although there is a tendency towards the notion that institutions influence...

This article explains the peculiarities of institutional effects on growth rates in post-communist countries. By proposing a certain dependence of the institution-growth nexus on the nature of institutional emergence, the distinction between revolutionary and evolutionary processes of...

The article presents a study of the corruption perception and the involvement of SMEs in corruption practices. The main goal of the paper is to provide an analysis of corruption perception of the SMEs representatives, its parts and research methodology to provide an adequate picture and analysis...

This paper is the first attempt to directly explore the long-run nonlinearity of the shadow economy. Using a dataset of 158 countries over the period from 1996 to 2015, our results reveal a robust U-shaped relationship between the shadow economy size and GDP per capita. Our results imply that...