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Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England
The article studies the evolution of the constitutional arrangements in seventeenth-century England following the Glorious Revolution of 1688. It focuses on the relationship between institutions andExpand
The Economic Role of Political Institutions: Market-Preserving Federalism and Economic Development
Thriving markets require not only an appropriately designed economic system, but a secure political foundation that limits the ability of the state to confiscate wealth. This requires a form ofExpand
A Conceptual Framework for Interpreting Recorded Human History
Preface 1. The conceptual framework 2. The natural state 3. The natural state applied: English land law 4. Open access orders 5. Explaining the transition from limited to open access orders: theExpand
Regional decentralization and fiscal incentives: Federalism, Chinese style
March 1999 Second generation theories of federalism extend traditional approaches by systematically studying the role of government incentives in economic performance. Providing government with theExpand
Federalism, Chinese Style: The Political Basis for Economic Success in China
China's remarkable economic success rests on a foundation of political reform providing a considerable degree of credible commitment to markets. This reform reflects a special type ofExpand
The role of institutions in the revival of trade: the law merchant
A good reputation can be an effective bond for honest behavior in a community of traders if members of the community know how others have behaved in the past – even if any particular pair of tradersExpand
Second generation fiscal federalism: The implications of fiscal incentives
First generation fiscal federalism (FGFF) studies the performance of decentralized systems under the assumption of benevolent social planners. Second generation fiscal federalism (SGFF) studiesExpand
The Political Foundations of Democracy and the Rule of the Law
This paper develops a game-theoretic approach to the problem of political officials' respect for political and economic rights of citizens. It models the policing of rights as a coordination problemExpand
Federalism as a Commitment to Reserving Market Incentives
Fall, 1997 Journal of Economic Perspectives, Volume 11, Number 4, pp.83-92, Fall 1997 We advance a new perspective in the study of federalism. Our approach views federalism as a governance solutionExpand