Institutions, property rights, and economic development in historical perspective

Luis Angeles ()

Working Papers from Business School - Economics, University of Glasgow

Abstract: Institutions, and more specifically private property rights, have come to be seen as a major determinant of long-run economic develop- ment. 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 pro- duction 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)
JEL-codes: N33 O34 O43 (search for similar items in EconPapers)
Date: 2011-02
New Economics Papers: this item is included in nep-his
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Related works:
Journal Article: Institutions, Property Rights, and Economic Development in Historical Perspective (2011)
Working Paper: Institutions, Property Rights, and Economic Development in Historical Perspective (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:gla:glaewp:2011_03

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