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Stefan Voigt

The crucial role of institutions for economic development is not challenged by anybody in the New Institutional Economics. Yet, to be empirically convincing – and to keep the NIE on its growth path – reliable measures for both external and internal institutions are needed. Internal institutions are those rules whose non-compliance is sanctioned by members of society – not by representatives of the state. This chapter argues that some important questions in the NIE can only be answered if good measures for institutions are made available. This is true in particular for internal institutions. These questions include: (1) What role do internal institutions play for economic development? (2) What are the fundamental determinants of internal institutions? (3) What are the effects for economic development when external and internal institutions are in conflict? (4) Under what conditions will internal institutions be replaced by external ones? (5) Are conflicts between internal and external institutions an important reason for the incomplete implementation of external ones? (6) Are internal institutions likely to change if two groups following different sets of internal institutions interact frequently?

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Stefan Voigt

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Stefan Voigt

Almost anywhere in the world, new constitutions are written and passed at almost any time. Over the last couple of years, an increasing number of economists have analysed constitutions based on an economic approach with an emphasis firstly on the (economic) effects of constitutions and followed by the factors determining their content. The contributions assembled in this research review go one step further: they ask how the knowledge gained over the last number of years can usefully be applied to constitutional design. This new branch could also be termed applied constitutional economics.
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Stefan Voigt

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Stefan Voigt

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Stefan Voigt

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Eli M. Salzberger and Stefan Voigt