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The Spanish Origins of Extractive Institutions in the Philippines

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  • Prince Christian Cruz

Abstract

type="main"> Why did the Spanish colonisers of the Philippines establish extractive institutions? Using an explicit rational choice framework, the article examines the demand for institutions of Spanish settlers during the conquest period. It provides a framework for analysing the incentive structure faced by individuals that lead them to demand, create, and preserve certain types of institutions. The article argues that extractive institutions were demanded and supplied to minimise the uncertainty brought by high mortality and the relatively low wealth in the Philippines.

Suggested Citation

  • Prince Christian Cruz, 2014. "The Spanish Origins of Extractive Institutions in the Philippines," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 54(1), pages 62-82, March.
  • Handle: RePEc:bla:ozechr:v:54:y:2014:i:1:p:62-82
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    File URL: http://hdl.handle.net/10.1111/aehr.12035
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    References listed on IDEAS

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    1. Lakshmi Iyer & Noel Maurer, 2008. "The Cost of Property Rights: Establishing Institutions on the Philippine Frontier Under American Rule, 1898-1918," Harvard Business School Working Papers 09-023, Harvard Business School, revised Apr 2009.
    2. Daron Acemoglu & James A. Robinson, 2008. "Persistence of Power, Elites, and Institutions," American Economic Review, American Economic Association, vol. 98(1), pages 267-293, March.
    3. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
    4. Raul V. Fabella, 2003. "The comprehensive agrarian reform program and Coase theorem," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 40(1), pages 109-200, June.
    5. Greif, Avner, 1994. "Cultural Beliefs and the Organization of Society: A Historical and Theoretical Reflection on Collectivist and Individualist Societies," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 912-950, October.
    6. Daron Acemoglu & Simon Johnson & James A. Robinson, 2012. "The Colonial Origins of Comparative Development: An Empirical Investigation: Reply," American Economic Review, American Economic Association, vol. 102(6), pages 3077-3110, October.
    7. Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution," The Quarterly Journal of Economics, Oxford University Press, vol. 117(4), pages 1231-1294.
    8. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," NBER Chapters, in: Investment in Human Beings, pages 9-49, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Michael Batu, 2017. "Poverty and the Colonial Origins of Elite Capture: Evidence from Philippine Provinces," Working Papers 1708, University of Windsor, Department of Economics.

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