Why do some societies fail to adopt more efficient political and economic institutions in response to changing economic … productivity, cultural beliefs and institutions. In our model, production shocks that benefit one sector of the economy may induce …

ventures. That is followed by three papers that focus on the institutions that (fail to) channel financial resources to such … ventures and two papers that analyze the relevance of labor market institutions. The special issue concludes with two papers … investigating how the interplay of institutions and productive entrepreneurship results in economic growth. …

Why do some societies fail to adopt more efficient institutions in response to changing economic conditions? And why do … institutions. When new technologies emerge, uncertainty results from a lack of understanding how the technology will fit with … prevailing ideologies and institutions. This uncertainty discourages investment in institutions and the cultural capital …

We propose a general theory that explains the extent of the state and accounts for related institutions as byproducts …

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 …

do is not simply introducing open access institutions, but reorganizing the incentives of the elites so that to limit …

institutions, namely formal rules (constitution, judiciary, political system) as well as “personality-based” informal rules … (tribalism, wasta) might explain the middle-income growth trap. More precisely, we highlight that informal institutions, as well … as the distorted use of formal institutions, are a by-product of the process of state formation. They play a part in the …

geography and these institutions, we posit, is via the effect of transparency on the state's extractive capacity. We apply our …