Analyses that gauge the relationship of partisanship to economic outcomes nearly always focus on the level of partisanship, and changes to it, at a time concurrent to the outcomes. However, partisanship at the time an institution was established may correspond more strongly to modern economic outcomes than contemporary partisanship measures. To test this argument, I develop a measure of partisanship at the time that modern capitalist institutions were created. Tests reveal that this measure correlates more strongly to many modern economic outcomes than more contemporary measures of partisanship, suggesting that other economic outcomes may be usefully reexamined in light of the partisanship that existed when the initial institutional bargains were struck.
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
5147.
Find related papers by JEL classification: N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
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Rafael La Porta & Florencio Lopez-De-Silanes & Andrei Shleifer, 1999.
"Corporate Ownership Around the World,"
Journal of Finance,
American Finance Association, vol. 54(2), pages 471-517, 04.
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