Institutional specialization
Guimarães, Bernardo de Vasconcellos; Sheedy, Kevin D.
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Resumo
This paper presents a theory of institutional specialization in which some countries uphold the rule of law while others choose extractive institutions, even though they are ex-ante identical.This is borne out of two key insights: for incumbents in each country, (i) the first steps to the rule of law are more costly; and (ii) the rule of law is more attractive when other countries have extractive institutions. The world equilibrium features a symbiotic relationship between countries with opposite institutions. Using the transition from sail to steam-powered vessels in the nineteenth century, we find empirical evidence consistent with the model.
Ficha do documento
- Tipo
- Outro
- Ano
- 2019
- Instituição
- Fundação Getulio Vargas
- Fonte
- Repositório da FGV
- Idioma
- Inglês
- Acesso
- Acesso aberto
- Identificador
- oai:repositorio.fgv.br:10438/27735
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