Daron Acemoglu () (Massachusetts Institute of Technology, Department of Economics, E52-380, 50 Memorial Drive, Cambridge,MA 02142, USA) James A. Robinson () (Harvard University, Department of Government and IQSS, 1737 Cambridge Street N309, Cambridge MA 01238, USA)
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Though 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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Volume (Year): 75 (2008) Issue (Month): 2 (October) Pages: 282-299 Download reference. The following formats are available: HTML
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Find related papers by JEL classification: H2 - Public Economics - - Taxation, Subsidies, and Revenue N10 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations - - - General, International, or Comparative N40 - Economic History - - Government, War, Law, and Regulation - - - General, International, or Comparative P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism