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results suggest that (particularly state) institutions aresignificant for growth and, especially, foreign direct investment …
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We present a model of wage contract violation that implies a possibility of multiple equilibria in the level of arrears. Positive feedback arises because each employer's arrears affect the costs of late payment faced by other employers operating in the same labor market, resulting in a network...
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Until recently, theorists considering the evolution of human cooperation have paid little attention to institutional punishment, a defining feature of large-scale human societies. Compared to individually-administered punishment, institutional punishment offers a unique potential advantage: the...
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third section of the paper will address studies that take institutions to be endogenous and aims to explain why particular … institutions emerge. Finally, the question of whether Political Economy has been a success or a failure will be tackled. While the …
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