Abstract: Business groups in emerging markets perform better than unaffiliated firms. We study how business groups can substitute some functions of missing institutions, for example, enforcing contracts. In a two period model, there is no contract enforcement in the first period. The firms...

In this paper the term ‘globalisation’ means the international integration of nationally organised markets in conjunction with increasing cross-country flows of factors of production. According to this globalisation has been under way for centuries. Globalisation is not a completely...

Intrinsically trustworthy agents never cheat. A society's willingness to trust and the quality of its institutions have their origins in the intrinsic trustworthiness of its citizens. Trustworthiness is the basis for maximizing output in economic exchange and in explaining differences in...

This paper evaluates some factors that affect longevity in Africa, with the aim of offering an insight on how government economic policy and consumption spending affect the lives of people in developing countries. Government economic policy was found to be contributing in a negative manner to...

As by product of economic growth, jobs are indeed transformational. In other words, efficiency increases as workers get better at what they do (as more productive jobs appear and less productive one disappear). In fact societies flourish as jobs bring together people from different ethnic and...

We study the role of institutional development as a causal mechanism of history affecting current economic performance. Several indicators capturing different dimensions of early development in 1500 AD are used to remove the endogenous component of the variations in institutions. These...

Several scholars have argued that abundant natural resources can be harmful to economic performance under bad institutions and helpful when institutions are good. These arguments have either been theoretical or based on naturally-occurring variation in natural resource wealth. We test this...

To overcome the socio-economic reality that harm society, the church needs to have a sensitivity and a strong commitment to encourage cooperation between the elements of the government, market forces, community institutions to empower people, especially poor and marginalized communities. The...

In an open economy with common property resources at the community level, marriage and migratory decisions crucially depend on inheritance rules on the commons. Motivated by the traditional management of the commons in the Italian Alps, we present a model that fits the evolution of property...

Institutions are the first collective resources accumulated in any society. In this case, every society is instituted. These resources must be taken in account to ameliorate the socioeconomic conditions of the members of it. Not only for economic growth, but over all for a sustainable economic...