This study aims to assess to what extent the institutional environment is responsible for worldwide differences in economic development. To answer this question, a new concept of the institutions-augmented Solow model is constructed. The analysis covers 153 countries and the period 1994-2009....

Dynamics of Balance of Payment developments are still barely researched. Chapter 1 tries to summarize empirical evidence between institutional determinants and BoP movements and proposes a framework for the role of institutions in a debt cycle. It is found that “good” institutions do help a...

Die Analyse von Institutionen und ihre Berücksichtigung in der ökonomischen Theorie war bisher überwiegend gesellschaftskritischen Ökonomen vorbehalten. Der Mainstream in der ökonomischen Forschung blendete institutionelle Arrangements weitgehend aus. Ausgehend von den vereinigten Staaten,...