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A Review of Avner Greif's Institutions and the Path to the Modern Economy: Lessons from Medieval Trade

Gregory Clark

University of California, Davis

Journal of Economic Literature 2007

Avner Greif's Institutions and the Path to the Modern Economy: Lessons from Medieval Trade (Cambridge University Press, 2006) is a major work in the ongoing project of many economists and economic historians to show that institutions are the fundamental driver of all economic history and of all contemporary differences in economic performance. This review outlines the contribution of this book to the project and the general status of this long standing ambition.

DOI
10.1257/jel.45.3.725
Volume
45 (3)
Pages
725-741
Language
en
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