Robert Fritzsch provides an institutional economic analysis of the Great Recession. The author shows that institutions matter as determinants of crisis resilience - however in a different way than predicted by the prominent theories of Olson (1982) and North, Wallis, Weingast (2009), as the crisis was most severe in developed countries with democratic political institutions, rule of law and restrained regulations. The empirical results support theoretical predictions only within the sub-group of developed countries, where rule of law and restrained regulations show a positive association with crisis resilience.
Robert Fritzsch provides an institutional economic analysis of the Great Recession. The author shows that institutions matter as determinants of crisis resilience - however in a different way than predicted by the prominent theories of Olson (1982) and North, Wallis, Weingast (2009), as the crisis was most severe in developed countries with democratic political institutions, rule of law and restrained regulations. The empirical results support theoretical predictions only within the sub-group of developed countries, where rule of law and restrained regulations show a positive association with crisis resilience.
By using a unique combination of methods and tools, including sentiment analysis and usage fluctuation analysis, this book sheds light on the interplay between language and socio-economic dynamics,...
The International Papers in Political Economy (IPPE) series explores the latest developments in political economy. This twelfth volume presents a collection of eight papers, analysing the emergence...
Many books on the 2008 financial crisis and the current recession focus on the financial sector. Unlike them, this book takes the real economy as the starting point and it situates the downturn...
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and...
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