We examine existing results on the effect of speed of liberalization on growth during transition. We highlight methodological problems in existing studies, noting the existence of simultaneity and the use of variables that are not valid measures of the phenomena they supposedly represent. We...

This paper examines the characteristics of comparative economics during the period 1977–1992, using computational tools to collect data on the character of publications. These data depict the distinctive characteristics of comparative economics, for example, whether it was neoclassical or...

A fundamental question in economic development is how societies first acquire a successful set of institutions. To examine this question, the paper focuses on a paradigmatic example, England in the years surrounding the Glorious Revolution of 1688. North and Weingast (1989) view the...

A methodology is presented for transaction-cost measurement using reports from businesses. In Romania, transaction costs related to buying and selling are more than 20% of value added. The estimates correlate significantly with variables suggested by theory, indicating validity.

Most modernization or development theories that incorporate law emphasize a growth in the scope of individual choice as law becomes impartial, relevant to all. An early expression of this conceptualization was Henry Maine's (1822-1888) celebrated dictum that progressive societies move from...