David Bencek, Dipl. Econ.
Phone: +49 431 8814 470
Fax: +49 431 85853
The Political Economy of Institutional Change
Political and economic institutions are essential determinants of development and growth. But analyzing the comparative statics of different institutional frameworks cannot help us understand why in some countries more beneficial sets of institutions emerge over the course of time. For this purpose we need a theory that captures the dynamics of competing agents shaping their institutional environment while simultaneously being constrained by it. Eventually, this will help us comprehend gradual shifts of institutional settings and explain the variation we observe today.