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Institutions, property rights, and economic development in historical perspective

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  • Luis Angeles

Abstract

Institutions, and more specifically private property rights, have come to be seen as a major determinant of long-run economic develop- ment. We evaluate the case for property rights as an explanatory factor of the Industrial Revolution and derive some lessons for the analysis of developing countries today. We pay particular attention to the role of property rights in the accumulation of physical capital and the pro- duction of new ideas. The evidence that we review from the economic history literature does not support the institutional thesis.

Suggested Citation

  • Luis Angeles, 2011. "Institutions, property rights, and economic development in historical perspective," Working Papers 2011_03, Business School - Economics, University of Glasgow.
    • Handle: RePEc:gla:glaewp:2011_03
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    Cited by:

    1. Angeles, Luis, 2012. "On the causes of the African Slave Trade," SIRE Discussion Papers 2012-91, Scottish Institute for Research in Economics (SIRE).
    2. Kato, Atsushi & Sato, Takahiro, 2013. "Threats to property rights: Effects on economic performance of the manufacturing sector in Indian states," Journal of Asian Economics, Elsevier, vol. 26(C), pages 65-81.
    3. Luis Angeles, 2013. "On the Causes of the A frican Slave Trade," Kyklos, Wiley Blackwell, vol. 66(1), pages 1-26, February.
    4. Enrico Colombatto, 2012. "A theory of institutional legitimacy," ICER Working Papers 05-2012, ICER - International Centre for Economic Research.
    5. David Le Bris & William N. Goetzmann & Sébastien Pouget, 2015. "The Development of Corporate Governance in Toulouse: 1372-1946," NBER Working Papers 21335, National Bureau of Economic Research, Inc.
    6. Jiawen Chen & Linlin Liu, 2023. "A historical perspective on informal institutional and international entrepreneurship," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-12, December.
    7. Alexandra Grigorievna POLYAKOVA & Julia Nikolaevna NESTERENKO & Elena Albertovna SVERDLIKOVA, 2018. "A Philosophical Approach of the Modernization Process of Russian Economy and Economic Institutions," Postmodern Openings, Editura Lumen, Department of Economics, vol. 9(1), pages 109-128, March.
    8. Magdalena Owczarczuk, 2013. "Property Rights As A Factor Of Foreign Direct Investment. The Case Of Poland," Oeconomia Copernicana, Institute of Economic Research, vol. 4(2), pages 97-116, June.
    9. Magdalena Owczarczuk, 2020. "Institutional competitiveness of Central and Eastern European countries and the inflow of foreign direct investments," Catallaxy, Institute of Economic Research, vol. 5(2), pages 87-96, December.

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    More about this item

    Keywords

    Institutions and Economic Development; Property Rights; Industrial Revolution; long-run growth.;
    All these keywords.

    JEL classification:

    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • N33 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: Pre-1913

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