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The New Comparative EconomicsAndrei ShleiferHarvard University - Department of Economics; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI) Edward L. GlaeserHarvard University - John F. Kennedy School of Government, Department of Economics; Brookings Institution; National Bureau of Economic Research (NBER) Florencio Lopez de SilanesEDHEC Business School; National Bureau of Economic Research (NBER); Tinbergen Institute Rafael La PortaDartmouth College - Tuck School of Business; National Bureau of Economic Research (NBER) Simeon DjankovMinistry of Finance; World Bank July 2003 Harvard Institute of Economic Research Discussion Paper No. 2002; Yale SOM Working Paper No. ES-24; World Bank Policy Research Working Paper No. 3054 Abstract: In recent years, comparative economics experienced a revival, with a new focus on comparing capitalist economies. The theme of the new research is that institutions exert a profound influence on economic development. The authors argue that, to understand capitalist institutions, one needs to understand the basic tradeoff between the costs of disorder and those of dictatorship. They then apply this logic to study the structure of efficient institutions, the consequences of colonial transplantation, and the politics of institutional choice. This paper - a product of the Private Sector Advisory Department, Private Sector Development Vice Presidency - is part of a larger effort to understand institutional differences in the regulation of business.
Number of Pages in PDF File: 31 JEL Classification: H1, K1, P1, P14, P16, P37, P5, P51 working papers seriesDate posted: December 21, 2004Suggested CitationContact Information
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