Economists generally assume the existence of sufficient institutions to sustain a market economy and tax the citizens … "economic institutions", which in turn reflect past investments in legal and fiscal state capacity. We study the economic and … wars, as well as political stability and inclusive political institutions, are conducive to building state capacity …

geography and these institutions, we posit, is via the effect of transparency on the state's extractive capacity. We apply our … the relevance of our theory to analyses of the deep rooted factors affecting economic development and the growth of …

, where due to population mixing and the salience of national institutions ethnic traits play a lesser role. Overall, our …

Institutions that serve the interests of an elite are often cited as an important reason for poor economic performance …. This paper builds a model of institutions that allocate resources and power to maximize the payoff of an elite, but where … any group that exerts sufficient fighting effort can launch a rebellion that destroys the existing institutions. The …

risky firms located in countries with strong institutions, and this penalty appeared to be costly in terms of future growth … thus identify the capital market as a channel through which strong institutions promote growth. … estimate the country-specific cost of capital. We find a negative relationship between institutions that protect property …

Several recent papers suggest that the negative association between natural resource intensity and economic growth can … resource measure, using alternative measures of both resources and institutions, and by studying different time periods. While … institutional quality consistently have a negative growth effect but a positive interaction that turns the curse around when …

This paper introduces the notion of surprising institutions. Because we often carry incorrect beliefs about the world …

distribution and growth, as well as the relevant empirical evidence. The first model integrates the political-economy and imperfect … capital markets theories. It allows for departures from perfect democracy and embodies the trade-off between the growth costs … savings incentives and ameliorate the wealth constraints that impede investment by the poor. The second model is a growth …