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Measuring institutional quality in ancient Athens

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  • BERGH, ANDREAS
  • LYTTKENS, CARL HAMPUS

Abstract

We use the Economic Freedom Index to characterize the institutions of the Athenian city-state in the fourth century BCE. It has been shown that ancient Greece witnessed improved living conditions for an extended period of time. Athens in the fourth century appears to have fared particularly well. We find that economic freedom in ancient Athens is on level with the highest ranked modern economies such as Hong Kong and Singapore. With the exception of the position of women and slaves, Athens scores high in almost every dimension of economic freedom. Trade is probably highly important even by current standards. As studies of contemporary societies suggest that institutional quality is probably an important determinant of economic growth, it may also have been one factor in the relative material success of the Athenians.

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  • Bergh, Andreas & Lyttkens, Carl Hampus, 2014. "Measuring institutional quality in ancient Athens," Journal of Institutional Economics, Cambridge University Press, vol. 10(2), pages 279-310, June.
    • Handle: RePEc:cup:jinsec:v:10:y:2014:i:02:p:279-310_00
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    Cited by:

    1. Lyttkens, Carl Hampus & Gerding, Henrik, 2015. "Understanding the Politics of Perikles Around 450 BC. The Benefits of an Economic Perspective," Working Papers 2015:13, Lund University, Department of Economics.
    2. Bryan C. McCannon, 2018. "Arbitration in classical Athens," Constitutional Political Economy, Springer, vol. 29(4), pages 413-423, December.
    3. Economou, Emmanouel/Marios/Lazaros & Kyriazis, Nicholas & Zachilas, Loukas, 2016. "Interpreting sociopolitical change by using Chaos Theory: A lesson from Sparta and Athens," MPRA Paper 76117, University Library of Munich, Germany.
    4. Federica Carugati & Josiah Ober & Barry R. Weingast, 2019. "Is development uniquely modern? Ancient Athens on the doorstep," Public Choice, Springer, vol. 181(1), pages 29-47, October.
    5. Pál Czeglédi, 2017. "Productivity, institutions, and market beliefs: three entrepreneurial interpretations," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 6(2), pages 164-180, August.
    6. Dilli, Selin & Elert, Niklas, 2016. "The Diversity of Entrepreneurial Regimes in Europe," Working Paper Series 1118, Research Institute of Industrial Economics.
    7. Emmanouil M. L. Economou & Nikolaos A. Kyriazis & Nicholas C. Kyriazis, 2021. "Managing Financial Risks while Performing International Commercial Transactions. Intertemporal Lessons from Athens in Classical Times," JRFM, MDPI, vol. 14(11), pages 1-14, October.
    8. Emmanouil-Marios L. Economou & Nicholas C. Kyriazis & Nikolaos A. Kyriazis, 2021. "Money Decentralization under Direct Democracy Procedures. The Case of Classical Athens," JRFM, MDPI, vol. 14(1), pages 1-17, January.

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    More about this item

    JEL classification:

    • N43 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: Pre-1913
    • N93 - Economic History - - Regional and Urban History - - - Europe: Pre-1913
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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