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Institutions, Property Rights, and Economic Development in Historical Perspective

Luis Angeles ()

No 2011-08, SIRE Discussion Papers from Scottish Institute for Research in Economics (SIRE)

Abstract: Institutions, and more speci cally private property rights, have come to be seen as a major determinant of long-run economic development. 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 production of new ideas. The evidence that we review from the economic history literature does not support the institutional thesis.

Keywords: Institutions and Economic Development; Property Rights; Industrial Revolution; long-run growth (search for similar items in EconPapers)
Date: 2011
New Economics Papers: this item is included in nep-his
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Journal Article: Institutions, Property Rights, and Economic Development in Historical Perspective (2011) Downloads
Working Paper: Institutions, property rights, and economic development in historical perspective (2011) Downloads
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