Robust institutional change is difficult to achieve.  However, the growth paths of some countries are more likely to be affected by contemporaneous political turmoil than others.  This paper supports this claim using data on GDP growth during periods of extreme political turmoil for 69 countries between 1870 and 2000.  The authors argue that the robustness of a country’s growth path to political uncertainty depends on the degree to which individuals are invested in its current institutions. 

Under modern ideological conditions, a national emergency produces a virtual free-for-all of policies, programs, and plans that expand the government’s power. This expansion leaves the public with altered political and ideological sensibilities. Efforts to rein in the government’s crisis-driven overreaching must concentrate, first, on affecting the public’s thinking about how the government ought to act during an emergency and, second, on changing the machinery of government so that ill-considered or poorly justified measures cannot be adopted so easily.

Inspired by Berger and Luckmann’s work The Social Construction of Reality, this paper describes the social construction of the market, specifically focusing on the Austrian understanding of the market as a product of human action, acknowledging that knowledge is socially distributed, and focusing on the subjectively held though socially mediated meanings that actors ascribe to market activity.

Why is it that some countries adopted growth enhancing institutions earlier than others during the early-modern period? We address this question through a comparative study of the evolution of French and Ottoman fiscal institutions.

On November 7th, 2003, the Fund for the Study of Spontaneous Orders, the Atlas Economic Research Foundation, the Mercatus Center at George Mason University, and the Institute for Humane Studies honored Vincent and Elinor Ostrom with a Lifetime Achievement Award for their pioneering contributions to the field of political economy through their work on institutional reform, common pool resources, self-governance, and a variety of other topics. In honor of this award, Paul Dragos Aligica interviewed the scholars on their work in institutional analysis.

In this Country Brief, Enterprise Africa! lead researcher Karol Boudreaux and program associate Johan van der Walt focus on three domestic policy issues that they believe are important to expanding opportunities for South Africa’s poor: employment, education, and security. In addition, they also focus on three foreign policy issues that they believe are significant to leveraging South Africa’s unique position in international affairs: regional integration, good governance, and public and cultural diplomacy.