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The New Comparative Economics

  • Djankov, Simeon
  • Glaeser, Edward L
  • López-de-Silanes, Florencio
  • Shleifer, Andrei

In recent years, comparative economics experienced a revival, with a new focus on comparing capitalist economies. The theme of the new research is that institutions exert a profound influence on economic development. We argue that, to understand capitalist institutions, one needs to understand the basic trade-off between the costs of disorder and those of dictatorship. We then apply this logic to study the structure of efficient institutions, the consequences of colonial transplantation, and the politics of institutional choice.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3882.

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Date of creation: May 2003
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Handle: RePEc:cpr:ceprdp:3882
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