The Fundamental Coase of Development: Property Rights Foundations of the Effective State

Journal of Institutional Economics, forthcoming

38 Pages Posted: 20 Jun 2019 Last revised: 12 May 2020

See all articles by Ennio Emanuele Piano

Ennio Emanuele Piano

Middle Tennessee State University

Alexander William Salter

Texas Tech University - Rawls College of Business; American Institute for Economic Research

Date Written: May 11, 2020

Abstract

This paper identifies political property rights and jurisdictional rivalry as the fundamental dimensions to understand comparative economic and political development. After developing a general framework for the study of relative performance in the ‘market for governance’, we argue that Medieval western Europe was characterized by initial conditions conducive to the development of the effective state. Then, we extend the framework to the case of the development of public finance thought and practices in early modern Germany.

Suggested Citation

Piano, Ennio Emanuele and Salter, Alexander William, The Fundamental Coase of Development: Property Rights Foundations of the Effective State (May 11, 2020). Journal of Institutional Economics, forthcoming, Available at SSRN: https://ssrn.com/abstract=3403732 or http://dx.doi.org/10.2139/ssrn.3403732

Ennio Emanuele Piano (Contact Author)

Middle Tennessee State University ( email )

Murfreesboro, TN
United States

Alexander William Salter

Texas Tech University - Rawls College of Business ( email )

Lubbock, TX 79409
United States

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American Institute for Economic Research

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