Disentangling institutions: a challenge

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2022

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info:eu-repo/semantics/altIdentifier/doi/10.1186/s40100-022-00223-w

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That “institutions matter” has become a mantra among economists. It has not always been so. For a long time, the conventional wisdom considered institutions as exogenous parameters, the study of which should be delegated to ‘soft’ social sciences, mainly sociology and political sciences. And many contemporary economists still disregard the analysis of institutions in their research agenda, mainly because of the difficulty in quantifying and modeling their role

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