Two hundred years ago, during the Napoleonic Wars, the Luddite movement rocked the English industrial landscape. Dissatisfied with falling wages and increased competition from mills employing cheap rural labour, the Luddites broke into factories at night, smashing spinning frames and power looms.
Unleashing growth: The decline of innovation-blocking institutions
Klaus Desmet, Stephen L. Parente, 18 May 2013
What explains political institutions? Evidence from colonial British America
Elena Nikolova, 17 August 2012
Under what circumstances do democratic as opposed to authoritarian institutions emerge? Although a large literature has tackled this question (see Acemoglu et al. 2001, Acemoglu and Robinson 2012, Engerman and Sokoloff 2000), we still have an imperfect knowledge of how representative institutions originate and change.
De Jure and de Facto Determinants of Power: Evidence from Mississippi
Graziella Bertocchi, Arcangelo Dimico, 22 July 2012
Vox readers can download CEPR Discussion Paper 9064 for free here.
Power sharing and institutional stability
Bernardo Guimaraes, Kevin D Sheedy, 5 July 2012
Economic activity is influenced by institutions that determine the rules prevailing in a society. Examples include how much income is taxed; what firms can and cannot do; whether contracts are enforced and disputes quickly and correctly resolved; and limits on the arbitrary exercise of government power.
Interest groups and government capabilities matter for financial development
Eduardo Cavallo, Carlos Scartascini, 12 May 2012
The debate on the benefits and limits of financial development has come to the fore with the global financial crisis. The fact that the epicentre of the global financial crisis was in countries with developed credit markets has led some commentators to argue that financial development may have gone too far.
Public-debt crises and bad equilibria: Lessons from the GIIPS Countries
Maurizio Bovi, 2 December 2011
All the GIIPS countries (Greece, Italy, Ireland, Portugal and Spain) have been hit by the current government debt crisis (see eg Manasse and Trigilia 2011).
Completing the Doha Round and developing countries
Sübidey Togan, 28 April 2011
The aim of economic activity is to generate wealth through high but sustainable growth in real income per-capita. Views on market-oriented policies to achieve this aim have converged recently into a set of policy principles known as the “Washington Consensus” and later revised as the “Post-Washington Consensus.”
Divide and rule or the rule of the divided? The effect of national and ethnic institutions on African under-development
Elias Papaioannou, Stelios Michalopoulos, 15 November 2010
The conventional wisdom on the deep determinants of African development places colonisation at the centre of any explanation. An influential body of research suggests that the extractive colonial institutions that Europeans established in the late 19th century, crucially contributed to African underdevelopment.
“Mother, can I trust the government?” Stable democracies are more likely to enjoy sustained financial development
Marc Quintyn , Geneviève Verdier, 23 September 2010
The epicentre of the global crisis can be traced to the world’s most developed financial systems, but few would consider this enough to challenge the broad consensus that financial development is good for economic growth.
Does culture affect long-run growth?
Yuriy Gorodnichenko, Gérard Roland, 21 September 2010
The idea that culture is a central ingredient of economic development goes back to at least Max Weber who, in his classical work “The Protestant Ethic and the Spirit of Capitalism” (Weber 1905), argued that the protestant ethic of Calvinism was a very powerful force behind the development of capitalism in its early phases.
- Fiscal consolidation: At what speed?Blanchard, Leigh
- Public debt and economic growth, one more timePanizza, Presbitero
- Escaping liquidity traps: Lessons from the UK’s 1930s escapeCrafts
- The lessons of the North Atlantic crisis for economic theory and policyStiglitz
- Rethinking macroeconomic policyBlanchard
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Reichlin, Baldwin, 14 April 2013
Reichlin, Turner, Woodford
CEPR Policy Research
- The "Greatest" Carry Trade Ever? Understanding Eurozone Bank RisksAcharya, Steffen
- Political Credit Cycles: The Case of the Euro ZoneFernández-Villaverde, Garicano, Santos
- Winning by Losing: Incentive Incompatibility in Multiple QualifiersDagaev, Sonin
- Income and schoolingBrückner, Gradstein
- Monetary Policy and Rational Asset Price BubblesGalí