This study employs the dynamic panel threshold estimation technique to examine whether the influence of financial inclusion on stability varies across countries with different levels of institutional development. This study analyzes 11,209 observations of bank-level data from 78 developed and...

What defines the role of public savings banks("Sparkassen") in tackling the socio-ecological challenges related to planetary boundaries, such as climate change and loss of biodiversity? A clear answer to this question is still lacking, in spite of that fact that the German Sparkassen have...

The experimental literature on preferences for redistribution has established that individual perceptions of what earning distributions are fair depend greatly on context. In this paper, we study an important and novel dimension of context: whether the choice to redistribute occurs before...

The Blue Economy in Africa, with its extensive aquatic and marine resources, is expected to play a major role in the continent's climate adaptation. It presents distinct opportunities to generate jobs and encourage economic growth while addressing the concerns of food security and climate...

Purpose The study examines the impact of macroeconomic risk and volatility associated with key macroeconomic indicators on financial market uncertainty; and the extent to which governance and institutional structures moderate such relationships. Design/methodology/approach The study employs data...

This study investigates how institutional rules and fairness in enforcement affect cooperation and compliance in heterogenous groups. In a preregistered online experiment (n = 1, 254), we vary both the existence of a rule governing contributions to a public good as well as whether enforcement of...

Firms' success depends on their ability to deal with formal institutional quality. Specifically, firms exposed to a diversified set of institutional profiles can achieve institutional competitive advantage that provides firms with diverse knowledge and broader learning opportunities. While prior...

Taking inspiration from the work of Douglass North, much institutional research attempts a distinction between 'formal' and 'informal' institutions. North often associated 'formal institutions' with rules enforced through a legal system. It is suggested here that this lead should be followed and...

National innovation systems (NISs) have been important in the literature since the 1990s for highlighting the institutional performance of economies and promoting economic development. Inclusion in systemic innovation activities is an emerging area of research. However, the definition of...

Crises constitute a fascinating context in which to investigate the resilience of institutional arrangements, or their breakdown and change, and to shed light on the interplay between formal and informal institutions in this process. The papers in this symposium focus on crises from political...

We propose a framework for institutional change in the 'rules-in-equilibrium' tradition and introduce the term institutional incompleteness. Institutions are incomplete when their constituent rules fail to induce behavioural beliefs about the strategies of others and hence fail to achieve an...

Prominent scholars have complained of inadequate clarity and agreement on what transactions are, and how their costs are measured. This two-part article explores this topic and suggests an alternative approach. This part examines different meanings of transaction cost used by leading scholars in...

This paper examines the concept of decentralised autonomous organisations (DAOs), blockchain-based entities intended to operate without central authority or management hierarchy, through the lens of organisational economics. It compares DAOs with conventional organisational forms and explores...

Homeownership rates and holdings of housing wealth differ immensely across countries. Using micro data from five economies, we estimate a life-cycle model with illiquid housing in which households face a discrete-continuous choice between renting and owning a house. We use the model to decompose...

To what extent can anti-corruption measures serve to limit patronage and corrupt networks effectively and sustainably in clientelist societies with a prevailing norm of corruption? We develop a political agency model in which office holders are motivated to reduce rent seeking behavior through...

This paper investigates the growth impact of the EU's Structural, Cohesion and Pre-accession Funds. We look at a large sample of 27 EU countries and the UK, over a period of 1989 and 2020, essentially covering the full history of these funds. We show that the growth effect of the funds is...

Homeownership rates and holdings of housing wealth differ immensely across countries. We specify and estimate a life cycle model with risky labor income and house prices in which households face a discrete-continuous choice between renting and owning a house, whose sale is subject to transaction...

Müller (2023) presents evidence for electoral cycles in macroprudential policy in a sample of 58 countries from 2000 through 2014. Consistent with theoretical arguments, the pattern of looser regulation is larger when election outcomes are uncertain and institutions are weak. In this...

Homeownership rates and holdings of housing wealth differ immensely across countries. We specify and estimate a life cycle model with risky labor income and house prices in which households face a discrete–continuous choice between renting and owning a house, whose sale is subject to...

The geographic spread of nations would pose logistics challenges in production, distribution and servicing, impacting costs, with implications for entrepreneurship. Using panel data from 62 countries spanning the years 2006 to 2021, we find that of the different oceanic geographic dimensions...