This paper argues that openness to goods trade in combination with an unequal distribution of political power has been … provision of schooling are typically lower in an open than in a closed economy. Moreover, we find that, under openness to trade …, development is faster in a democratic system. We also endogenize the trade regime and demonstrate that, in political equilibrium …

entrepreneurial elite, resulting in economic policy and institutions which are more conducive to entrepreneurship and productivity … evidence on transition economies. -- credit constraints ; distribution ; economic development ; entrepreneurship ; institutions …

presence of international trade and find evidence that both regulation and trade have a significant positive influence on …

We build and estimate a structural dynamic general equilibrium model of growth and trade. Trade affects growth through …, growth affects trade, directly through changes in country size and indirectly through altering the incidence of trade costs …. Theory translates into an intuitive econometric system that identifies the causal impact of trade on income and growth, and …

Although social institutions permeate the world in which we live, they are all but absent from our analyses of economic … institutions for growth and development. -- institutions ; economic development …

We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual …-level, idiosyncratic risk implies that distinct risk-sharing institutions - even those providing the same level of insurance - can lead to … different growth trajectories if they differently motivate risk-taking. Historically, risk sharing institutions were selected …

) or countries&' formal institutions (e.g., political regime, electoral system), the variables in this database reflect the … workings of political institutions, using a logic emphasizing intertemporal political compromise. The paper also contrasts this …. -- Political institutions ; Public policies ; Government capabilities ; Veto players ; Intertemporal cooperation ; Development …