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Publications (2)
Working Paper
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– Lessons from 19th-century America and 21st-century China
How do modern fiscal states arise? Perhaps the most dominant explanation, based on the European experience, is that democratic institutions that limited the extractive power of states—exemplified by the 1688 Glorious Revolution in England—paved the way for the rise of fiscal capacity and subsequent...
Blog
– Some Lessons for Developing Countries
William Lazonick Defined as the act of forming a new business, entrepreneurship is viewed as a prime way in which individualism can contribute to economic development. Recently The Economist depicted entrepreneurs as “global heroes” who can lead us out of the current economic crisis.[1] Nevertheless...
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