I reconsider the primacy of institutions over geography as an explanatory factor of cross-country differences in economic performance, which has recently been postulated by Acemoglu et al. (2001) and others. My estimates show that the reported missing direct performance effects of a measure of...

This paper examines the post-War Summer and Winter Olympic Games in order to determine the economic and political determinants of national participation, of female participation in particular, and of success at the Games (i.e., medal counts). Compared to the Summer Games, Winter participation...

Lack of transparency in securitization transactions significantly contributed to the severe financial crisis of 20072009. To increase transparency we propose a new mechanism: financial claims with fingerprints. They would allow market participants at each stage of the securitization process to...

A high degree of de facto judicial Independence (JI) functions as a crucial precondition of governments to credibly commit to legislative decisions, such as respecting private property rights. Thus, de facto JI should improve the allocative efficiency and may therefore contribute positively to...

It is argued that an independent judiciary is a necessary condition for both individual liberty and economic prosperity. After having surveyed the literature dealing with how to arrange for an independent judiciary, the authors derive some additional policy implications by drawing on two...

Contrary to some contemporary arguing, competition economics are characterized by a considerable pluralism of theories and policy paradigms. This includes deviating views on core concepts like the nature of competition, the meaning of efficiency, or the goal of antitrust. The paper demonstrates...

The distribution of competencies between the different levels of a federal system may have remarkable effects on economic growth, because mainly the regions of a country contribute to national economic development. Thus, a government's economic policy is reasonably shaped along regional lines....