Distinguished Guest Lecture: The Persistence and Change of Institutions in the Americas
AbstractThough many empirical and theoretical approaches to comparative development assume that institutions persist for long periods of time, specific institutions vary a lot over periods as long as a century. Therefore, a convincing theory of institutional persistence must explain how persistence of institutional equilibria and accompanying incentive environment is consistent with changes in specific institutions. In this paper, we propose a simple explanation of how economic institutions may persist even when political institutions change and illustrate it with the economic history of the U.S. South and some examples from Latin American history.
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Bibliographic InfoArticle provided by Southern Economic Association in its journal Southern Economic Journal.
Volume (Year): 75 (2008)
Issue (Month): 2 (October)
Find related papers by JEL classification:
- H2 - Public Economics - - Taxation, Subsidies, and Revenue
- N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
- N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
- P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
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