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40 records from EconBiz based on author Name
1. Long-term effects of deep institutional shocks : historical evidence from Mexico
abstractThis paper examines the potential impact of institutional shocks on long-term development of property rights and on institutions regulating contracting. The paper seeks to demonstrate that the external institutional shocks might have an uncontemplated side-effect on the institutional development of Mexico. The analysis exploits the within-country variation in the presence of US administrative authorities during the Mexican-American conflict across Mexican states and cities. Using propensity score and nearest neighbour matching technique, we present some evidence of the potential long-term institutional implications of the presence of US administrative authorities. We show that the presence of US administrative authority generated an unexpected positive effect which could influence long-term property rights and contracting institutions of Mexican states. The positive impact of US administrative authorities' presence are robust to a variety of specification checks and are particularly large for smaller cities.
Dothan, Shai; Kovač, Mitja; Spruk, Rok;2024
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link Link
2. The boulevard of broken dreams? : long-run effects of labor-managed socialism
abstractThis study investigates the long-term impact of socialism on economic growth, focusing on the unique case of labor-managed socialism in former Yugoslavia. By comparing Slovenia with OECD and East Asian donor countries that did not undergo postwar socialist transitions, we estimate counterfactual scenarios using synthetic control methods. Our findings show that labor-managed socialism led to a temporary growth deviation, followed by a structural collapse in the 1980s. Our estimates suggest that Slovenia's per capita GDP would be 22 percent higher today had there been postwar economic and political liberalization in place. By contrast, if socialist policies had continued after 1990, Slovenia's per capita GDP would be 63 percent lower today. These results remain robust across various robustness checks.
Spruk, Rok; Kovač, Mitja; Garoupa, Nuno;2024
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link 3. Estimating the effects of political instability in nascent democracies
abstractIn this paper, we revisit and examine the effect of political instability on institutional quality. To this end, we exploit the crackdown of government cabinet in 2008 that led to almost two decades of pervasive political instability using the unique case of Slovenia and estimate the average treatment effect of political instability and the missing counterfactual scenario for the period 1996-2020. Based on large-scale Bayesian analysis with Metropolis-Hastings algorithm, we extract the residual component of institutional quality from the variation in predetermined unobserved characteristics. Across more than 1.5 million sequenced random samples, we construct novel time-varying estimates of institutional quality at the local and regional level. Our difference-in-differences and synthetic control estimates emphasize a rampant deterioration of institutional quality in response to political instability with evidence of weakened rule of law, less effective public sector, decreased political accountability, and more widespread prevalence of power abuses. The estimated negative effects of political instability are robust to a variety of placebo checks across more than 12 billion placebo averages for institutional quality outcome variable using random sampling method of treatment permutation.
Emery, Thomas J.; Kovač, Mitja; Spruk, Rok;2023
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link Link
4. Generative artificial intelligence : a law and economics approach to optimal regulation and governance
abstractCHAPTER 1: Introduction -- Part I. Conceptual framework -- CHAPTER 2. Economic Analysis of Law -- CHAPTER 3. The Case for Regulatory Intervention and its Limits -- CHAPTER 4. Introduction to the Generative Artificial Intelligence Systems -- Part II. Generative Artificial Intelligence and Key Regulatory Questions -- CHAPTER 5. What can get wrong? -- CHAPTER 6. Key Regulatory Principles and Current Regulatory Approaches -- CHAPTER 7. Towards an Optimal Regulator: Critical Assessment of the EU Artificial Intelligence Act -- Epilogue.
Kovač, Mitja;2024
Availability: Link
5. Diversification of procedural and administrative costs and innovation : some firm-level evidence
abstractWe examine the diversification of administrative and procedural costs on patent stock using a large dataset from the European Patent Office with 15,000 firms for the period between 1995 and 2015. The results reveal that administrative and procedural costs are significant for firm-level patenting activity. However, not all administrative and procedural costs have equal effects. Higher administrative costs often encourage patent application and validation by solving the adverse selection problem and short-run opportunism, as well as other sources of asymmetric information. The effective administration of intellectual property law and low-cost enforcement are found to considerably foster patenting activity. The effects are robust for various mis-specification checks and do not disappear once country-level research and development infrastructure proxies are controlled for. The extreme bounds of administrative and procedural costs are computed across more than 5 billion regressions, and the sizeable impact of administration on patent application and validation outcomes is confirmed.
Kovač, Mitja; Spruk, Rok;2021
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link Citations: 3 (based on OpenCitations)
6. Ethnolinguistic diversity, quality of local public institutions, and firm-level innovation
Focacci, Chiara Natalie; Kovač, Mitja; Spruk, Rok;2023
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link
7. Does a ban on trans fats improve public health : synthetic control evidence from Denmark
abstractWe examine the impact of the trans fat ban on a variety of public health outcomes. To this end, we consider a de facto trans fat ban that was introduced by Denmark in 2001. Using the synthetic control method, parallel trends between Denmark and countries in a control group in the years prior to the ban are used to construct a "synthetic Denmark" without any such trans fat ban. Our synthetic control estimates suggest the ban led to substantial improvements in public health. Following the ban, cardiovascular mortality dropped considerably, while the trends of adolescent and child obesity came to a halt and decreased significantly compared to the synthetic control group. Our findings provide new insights into the benefits for public health arising from the banning of trans fats.
Spruk, Rok; Kovač, Mitja;2020
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link Link Citations: 6 (based on OpenCitations)
8. Ljubljana talks in law and economics
Buiten, Miriam; Kovač, Mitja;2018
Type: Graue Literatur; Non-commercial literature; Sammelwerk; Collection of articles of several authors;
Availability:
9. Carrots and sticks as incentive mechanisms for the optimal initiation of insolvency proceedings
abstractThe pursuit of ex-ante efficiency in bankruptcy law has been widely discussed in recent law and economics literature. However, the exact incentive mechanisms inducing the optimal commencement of bankruptcy proceedings have generally been exempted from the current scholarly debate. Using the law and economics tools and comparative analysis, this paper seeks to identify insolvency-specific optimal incentive mechanisms, while using the general theory on carrots and sticks in legal regulations. The paper suggests the employment of mixed-sticks-and-carrots incentive mechanisms for managers’ prompt proposals of insolvency proceedings as an optimal regulatory response. Moreover, the article provides comparative evidence that exclusive use of sticks or carrots in French, German, US, English, and Slovenian legal systems results in sub-optimal initiation of insolvency proceedings and may also induce adverse effects on prompt initiation.
Cepec, Jaka; Kovač, Mitja;2016
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link Link Link
Citations: 3 (based on OpenCitations)
10. Judgement-proof robots and artificial intelligence : a comparative law and economics approach
Kovač, Mitja;2020
Availability: Link
Citations: 1 (based on OpenCitations)