Showing 1 - 10 of 436
We generate and analyze data pertinent to the role of caselaw in England's economic development during the Industrial Revolution. Applying topic modeling to a corpus of 67,455 reports on English court cases, we construct annual time series of caselaw developments between 1765 and 1865. We then...
Persistent link: https://www.econbiz.de/10013470346
We combine unsupervised machine-learning and econometric methods to examine cultural change in 16th- and 17th-century England. A machine-learning digest synthesizes the content of 57,863 texts comprising 83 million words into 110 topics. The topics include the expected, such as Natural...
Persistent link: https://www.econbiz.de/10014290235
We use machine-learning methods to study the features and origins of the Baconian program, a cultural and methodological paradigm viewed as providing the intellectual roots for modern economic growth. After building a machine-readable corpus of Bacon's works, we estimate a structural topic...
Persistent link: https://www.econbiz.de/10011657164
The history of England’s institutions has long informed research on comparative economic development. Yet to date there exists no quantitative evidence on a core aspect of England’s institutional evolution, that embodied in the accumulated decisions of English courts. Focusing on the two...
Persistent link: https://www.econbiz.de/10012425680
This is the second of two papers that generate and analyze quantitative estimates of the development of English caselaw and associated legal ideas before the Industrial Revolution. In the first paper, we estimated a 100-topic structural topic model, named the topics, and showed how to interpret...
Persistent link: https://www.econbiz.de/10012425681
Organized legal professions are typically viewed by economists as rent-seeking interest groups. Starting from the observation that the legal professions have been central in institutional development in countries with the highest quality institutions, we add a different perspective, developing a...
Persistent link: https://www.econbiz.de/10005823500
We revisit the ubiquitous claim that aiding civil society improves institutional outcomes. In our model, a vibrant civil society initiates public debate in a reform process that would otherwise be dominated by partisan interest groups and politicians. By altering the incentives of interest...
Persistent link: https://www.econbiz.de/10005823501
Although a common institutional arrangement, self-regulation as an alternative to direct government regulation has received relatively little attention from economists. This paper uses a framework inspired by property rights theory to analyze the allocation of regulatory authority. In a model of...
Persistent link: https://www.econbiz.de/10005823502
Organized legal professions often play a central role in successful institutional development. The paper’s model examines how legal professions affect institutional reform. Professional review of reform proposals solves a politician’s informational problem in a way that makes democracy,...
Persistent link: https://www.econbiz.de/10005698941
We revisit the ubiquitous claim that aiding civil society improves institutional outcomes. In our model, a vibrant civil society initiates public debate in a reform process otherwise dominated by partisan interest groups and politicians. Civil society involvement can alleviate or aggravate...
Persistent link: https://www.econbiz.de/10005142875