The NBER Reporter 2011 Number 4: Books
Economic Development in the Americas since 1500: Endowments and Institutions
Economic Development in the Americas since 1500: Endowments and Institutions, by Stanley L. Engerman and Kenneth L. Sokoloff, is now available from Cambridge University Press. The paperback price is $34.99 and the hard cover price is $99.00.
This book, which is the latest in the NBER's Series on Long-Term Factors in Economic Development, brings together a number of the co-authors' previously published articles. The essays deal with differences in the rates of economic growth in Latin American and mainland North America, specifically the United States and Canada. Relative differences in growth over time are found to be related to differences in the institutions that have evolved in different economies, including suffrage, education, tax policy, land and immigration policy, and banking and financial organizations. All of these institutions in turn are related to differences in endowments, climate, and natural resources.
Engerman is a Research Associate in the NBER's Program on the Development of the American Economy (DAE) and a professor of economics at the University of Rochester. Sokoloff, who passed away in 2007, was a Research Associate in DAE and a professor of economics at the University of California, Los Angeles.