We exploit the cross-country differences in economic freedom to examine the link between the quality of institutions and subjective well-being. Using Veenhoven's happiness dataset, the evidence suggests countries with better economic institutions and higher level of economic freedom, captured by...

In this paper, we revisit and examine the effect of political instability on institutional quality. To this end, we exploit the crackdown of government cabinet in 2008 that led to almost two decades of pervasive political instability using the unique case of Slovenia and estimate the average...

This article re-examines the relationship between constitutional monarchy and economic growth in Europe. We suggest that economic growth explains the survival of constitutional monarchy rather than vice versa. The empirical results are consistent with our hypothesis

This paper attempts a new way of identifying the impact of Bilateral Investment Treaties (BITs) on foreign direct investments (FDI) by taking advantage of the random timing of 44 unilateral BIT terminations in India between 2013 and 2019. Using quarterly bilateral FDI data of 138 investor...

This paper presents an attempt to quantify institutional changes and examine the respective effects of de jure and de facto political institutions on the path of long-run economic growth and development for a large panel of countries in the period 1810–2000. Using factor analysis, latent...