In this paper we employ the natural experiment of German Division and Reunification in order to study the effect of institutional reform on the decision to hold risky assets. We present empirical evidence indicating that even 16 years after German Reunification risky portfolios of East and West...

Transition to renewable energy leads to assumed economic diversification; however, the institutional risks for hydrocarbon-dependent economies remain high. This paper identifies the conditions under which transitioning economies enter a novel dependency during the renewable transition. Our...

In unserem Beitrag setzen wir uns mit institutionellen Veränderungen im österreichischen Wissenschafts- und Universitätssystem unter dem Einfluss von New Public Management und Exzellenzpolitik auseinander. Wir nehmen besonders zwei Maßnahmen in Augenschein, die Metrisierung und...

Kazakhstan is a major emitter of greenhouse gases and also highly vulnerable to climate change. This highlights the urgent need for coordinated efforts in climate mitigation and adaptation. In 2022, Kazakhstan's emissions reached 353.0 million tons of CO2 equivalent, with per capita emissions...

The crucial importance of institutions for economic and social development has become part of the conventional wisdom in economics. In recent years, economists have become particularly interested in the potential role of informal institutions but measuring them remains a serious challenge. This...

This article assesses the performance of the Economic and Social Council of Argentina (ESC-A) over its two years of activity (2021-22). Our analysis focuses on the implantation of this new forum in the hierarchical institutional framework of Argentina's economy and, following the notion of...

How does culture respond to institutional change? We study the collapse of the Holy Roman Empire (1789-1815), when half of Central Europe changed rulers. Using 44 million birth records from hundreds of cities between 1700 and 1850, we measure cultural traits in real time. Cities that experienced...

We adopt the theory of institutional change to investigate whether institutional review is instrumental or ceremonial, focusing on the role of institutional policy in horizontally integrating the enterprise. We conduct a qualitative multiple case study, examining a case at a United States...

The effects of initial institutions and change in institutions on the growth of ex-socialist countries is unsettled in the literature. This is due to difficulties in modeling the effects of institutions and their change. The objective of this paper is to contribute to this area. Ex-socialist...

This essay aims to address the existing theoretical gap regarding the in-depth study of institutional change and its relationship with the endogenous development potential of regions. The intersection of these two theoretical approaches offers an understanding of how changes in formal and...

This study examines how institutional quality and economic inequality influence parenting decisions across Latin America. Parenting is conceptualized as a strategic response to structural conditions, where families adapt both long-term approaches and short-term disciplinary tactics to local...

This paper analyzes the economic growth trajectories of post-communist countries that emerged following the collapse of the USSR. I treat the Soviet Union's sudden dissolution as a natural experiment that triggered rapid institutional changes, providing a unique opportunity to iso- late...

This paper investigates the growth impact of the EU's Structural, Cohesion and Pre-accession Funds. We look at a large sample of 27 EU countries and the UK, over a period of 1989 and 2020, essentially covering the full history of these funds. We show that the growth effect of the funds is...

Taking inspiration from the work of Douglass North, much institutional research attempts a distinction between 'formal' and 'informal' institutions. North often associated 'formal institutions' with rules enforced through a legal system. It is suggested here that this lead should be followed and...

National innovation systems (NISs) have been important in the literature since the 1990s for highlighting the institutional performance of economies and promoting economic development. Inclusion in systemic innovation activities is an emerging area of research. However, the definition of...

Crises constitute a fascinating context in which to investigate the resilience of institutional arrangements, or their breakdown and change, and to shed light on the interplay between formal and informal institutions in this process. The papers in this symposium focus on crises from political...

We propose a framework for institutional change in the 'rules-in-equilibrium' tradition and introduce the term institutional incompleteness. Institutions are incomplete when their constituent rules fail to induce behavioural beliefs about the strategies of others and hence fail to achieve an...

Understanding the consequences and recovery for countries hit by adverse national events such as political crises is central to understanding long-run development dynamics. Utilizing the Coleman boat framework, we develop a micro-foundation based theoretical framework grounded in public choice...

Economic inequality remains a persistent and widely studied issue in the social sciences. South Korea provides a striking example where the top 23 business groups, controlled by ultra-wealthy, family-owned conglomerates (chaebols), have maintained significant economic persistence and resisted...

This study investigates the evolution of sustainable palm oil policies in Indonesia through a historical institutionalism framework, tracing the influence of both domestic institutional developments and global dynamics on the sustainability trajectory of the palm oil sector, focusing on the...

Aim: This article explores the evolving role of social investments and regionalism as contemporary phases in the development of social policy, with a focus on Poland. The research aims to examine how shifting economic, demographic, and technological conditions - including labor market...