机构名称：
¥ 5.0
1 Another important piece of evidence is the Atlantic trade, as shown by Acemoglu et al. ( 2005 ). Even though they emphasize the role of the differential medieval institutions among Atlantic traders (England and the Netherlands vs. France, Portugal, and Spain) in their subsequent institutional reforms, the rise of Atlantic trade due to the breakthrough in navigation is the precondition for these institutional reforms. Namely, when the economic benefits of institutional reforms were higher for Atlantic traders than for the rest of Europe, the reforms were more likely to occur there. The fact that non-Atlantic-trader European nations also made their reforms much earlier than the rest of the world may also be due to the growing neighboring markets, in addition to competition and the spread of knowledge.
Market Size and Institutions in a Global Economy∗
主要关键词
相关文件推荐
