| 1. |
- Berggren, Niclas, et al.
(författare)
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Does social trust speed up reforms? : The case of central-bank independence
- 2016
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Ingår i: Journal of Institutional Economics. - : Cambridge University Press. - 1744-1374 .- 1744-1382. ; 12:2, s. 395-415
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Tidskriftsartikel (refereegranskat)abstract
- Many countries have undertaken central-bank independence reforms, but the years of implementation differ. What explains such differences in timing? This is of interest more broadly, as it sheds light on factors that matter for the speed at which economic reforms come about. We study a rich set of potential determinants, both economic and political, but put special focus on a cultural factor, i.e. social trust. We find empirical support for an inverse u-shape: Countries with low and high social trust implemented their reforms earlier than countries with intermediate levels. We make use of two factors to explain this pattern: the need to undertake reform (which is more urgent in countries with low social trust) and the ability to undertake reform (which is greater in countries with high social trust). Overall, our findings imply that culture matters for institutional change.
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| 2. |
- Cordes, Christian, et al.
(författare)
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How does opportunistic behavior influence firm size? : An evolutionary approach to organizational behavior
- 2011
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Ingår i: Journal of Institutional Economics. - 1744-1374 .- 1744-1382. ; :7, s. 1-21
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Tidskriftsartikel (refereegranskat)abstract
- This paper relates firm size and opportunism by showing that, given certain behavioural dispositions of humans, the size of a profit-maximizing firm can be determined by cognitive aspects underlying firm-internal cultural transmission processes. We argue that what firms do better than markets – besides economizing on transaction costs – is to establish a cooperative regime among its employees that keeps in check opportunism. A model depicts the outstanding role of the entrepreneur or business leader in firm-internal socialization processes and the evolution of corporate cultures. We show that high opportunism-related costs are a reason for keeping firms’ size small.
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| 3. |
- Erixon, Lennart, 1947-
(författare)
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Development Blocks, Malinvestment and Structural Tensions – the Åkerman-Dahmén Theory of the Business Cycle
- 2011
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Ingår i: Journal of Institutional Economics. - 1744-1374 .- 1744-1382. ; 7:1, s. 105-129
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Tidskriftsartikel (refereegranskat)abstract
- Johan Åkerman and Erik Dahmén's institutional theory of economic fluctuations is a constructive alternative to traditional macroeconomic approaches and also to modern business-cycle analysis based on microeconomic optimization models. By its integration of a business-cycle and growth perspective, Åkerman and Dahmén's analysis was similar to that of Schumpeter in Business Cycles. But their notions of malinvestment, structural tensions, and development blocks provided an original explanation of the turning points in the business cycle. The Åkerman–Dahmén approach is more valid for innovation-driven cycles such as the ICT boom in the late 1990s and the subsequent crisis than for cycles with an independent role of financial-market conditions.
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| 4. |
- Lipari, Francesca, et al.
(författare)
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The change in social norms in the Mafia's territories : the anti-racket movement of Addiopizzo
- 2021
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Ingår i: Journal of Institutional Economics. - : CAMBRIDGE UNIV PRESS. - 1744-1374 .- 1744-1382. ; 17:2, s. 227-242
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Tidskriftsartikel (refereegranskat)abstract
- Social norms pervade society and when they conflict with legal norms, the former undermine the latter making them ineffective. In this study, we propose that the extortion racket in Sicily has turned into a social norm and this is why recent top-down interventions have failed in stalling this socially undesirable activity. One exception is represented by Addiopizzo, a grass root movement that uses non-legal means to fight the racket phenomenon in Sicily. During the last 15 years, Addiopizzo was able to produce an effective reduction in the payment of protection money in the Sicilian city of Palermo by triggering, we suggest, among other things, a process of change in social norms. Acknowledging the importance of a change in social norms to achieve social change allows us to link the theory of institutions as 'rules' with the theory of institutions as 'equilibria'.
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| 5. |
- Mutarindwa, Samuel, et al.
(författare)
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Differences in African banking systems : causes and consequences
- 2021
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Ingår i: Journal of Institutional Economics. - : Cambridge University Press. - 1744-1374 .- 1744-1382. ; 17:4, s. 561-581
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Tidskriftsartikel (refereegranskat)abstract
- This paper links banking system development to the colonial and legal history of African countries. Based on a sample of 40 African countries from 2000 to 2018, our empirical findings show a significant dependence of current financial institutions on the inherited legal origin and the colonization type. Findings also reveal that current financial legal institutions are not major determinants of banking system development, and that institutional development and governance quality are more important. A high share of government spending relative to GDP also positively affects banking system development in African countries.
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| 6. |
- Rothstein, Bo, 1954, et al.
(författare)
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Governing religion: the long-term effects of sacred financing
- 2013
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Ingår i: Journal of Institutional Economics. - : Cambridge University Press (CUP). - 1744-1374 .- 1744-1382. ; 9:4, s. 469-490
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Tidskriftsartikel (refereegranskat)abstract
- The absence of democracy in the Arab-Muslim world is a 'striking anomaly' for democratization scholars. This cannot be seen as caused by religion as such, as there are now several democratic Muslim-majority states. Popular explanations such as values, culture, economic development, natural resources, or colonial legacy have been refuted. Based on Ostrom's approach regarding local groups' ability to establish institutions for 'governing the commons', we present a novel explanation for this puzzle, based on historical variations in institutions for financing religion. In Northwestern Europe, religion and secular services managed by local religious institutions have been financed 'from below', creating local systems for semi-democratic representation, transparency, and accountability. In the Arab-Muslim region, religion and local secular services have been financed 'from above', by private foundations lacking systems for representation and accountability. It is thus not religion, but how religion has been financed, that explains lacking successful democratization in the Arab-Muslim world.
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| 7. |
- Andersson, Martin, et al.
(författare)
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Divergence before the Division: The colonial origins of separate development paths in Korea
- 2023
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Ingår i: Journal of Institutional Economics. - 1744-1382. ; 19:6, s. 802-819
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Tidskriftsartikel (refereegranskat)abstract
- This study revisits the question of what impact Japanese colonialism had on the long-term economic development of North and South Korea. Factor endowments, economic activity and economic performance are compared between the regions that later became parts of North and South Korea, respectively. The study finds that important elements of the economic history of the peninsula have not been sufficiently acknowledged in much of the influential literature that uses Korea as an illustration of theoretical claims of the root causes of development. In particular, the fact that the economic divergence of northern and southern regions could be traced back to different colonial treatments – especially after mid-1920s – has often been overlooked when analysing the divergent post-partition development trajectories. The study suggests, based on a sectoral similarities analysis, that the initial dissimilar economic performance of North and South can at least partially be found in differences in political economy and economic trajectories preceding the partition.
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| 8. |
- Andersson, Martin, et al.
(författare)
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Resilience to economic shrinking in an emerging economy – the role of social capabilities in Indonesia 1950-2015
- 2021
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Ingår i: Journal of Institutional Economics. - 1744-1382. ; 17:3, s. 509-526
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Tidskriftsartikel (refereegranskat)abstract
- Economic history has recently emphasised the impact of economic shrinking on long-term economic growth, but economic theories do not provide explanations for how and why some countries avoid economic shrinking. In this case study of institutional change in post-independence Indonesia, we examine how the country managed to reduce the frequency of shrinking during the authoritarian regime and beyond. Weargue that the state’s autonomy, measured by macroeconomic policymaking, and accountability, measured by food security, were two key social capabilities that enabled Indonesia to reduce the frequency of economic shrinking. During this period, the ‘doorstep conditions’ for the transition into a democracy and stable economicgrowth emerged. More specifically, Indonesia managed to diversify its revenue base and make public resources more available for the broader common good. Loosening the connection between macroeconomic policymaking and elites opened up greater opportunities for the emergence of private enterprises. However, to date, the country is still far from a full-fledged open access society.
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| 9. |
- André-Petersson, Lena, et al.
(författare)
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Cognitive abnormalities and cerebral perfusion defects in a community-dwelling cohort of elderly men with MMSE within the normal range
- 2018
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Ingår i: Aging, Neuropsychology, and Cognition. - : Informa UK Limited. - 1382-5585 .- 1744-4128. ; 25:2, s. 200-212
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Tidskriftsartikel (refereegranskat)abstract
- Objectives: Mini Mental State Examination’s (MMSE’s) sensitivity in its upper level is questioned, hence we investigated cognitive abnormalities and defects in regional cerebral blood flow (rCBF) in elderly with MMSE scores ≥24. Methods: One hundred and four men at age 81 with MMSE scores ≥24 (mean 28.4 ± 1.7), no dementia or stroke, were examined with neuropsychological test battery, and their rCBF was estimated using 99mTc-HMPAO SPECT. Results: MMSE was very sparsely correlated with rCBF. Instead, visuo-spatial tests were correlated with rCBF in parietal and occipital lobe, verbal tests with rCBF in frontal and temporal-parietal lobes, and most of all between Digit Symbol and all rCBF regions, especially in subcortical gray and white matter. In a cluster of low achievers, test of Synonyms, followed by Digit Symbol and Benton test, had highest discriminatory importance. Low achievers had generalized rCBF changes especially in subcortical areas. Only lower scores on two MMSE items, figure drawing and calculation, could discriminate the clusters. Conclusion: A substantial number of octogenarian men with MMSE ≥ 24p have widespread rCBF changes corresponding to a decreased speeded performance and verbal capacity.
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| 10. |
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