The medieval Republic of Ragusa (now Dubrovnik) was a prosperous small open economy, rivalling bigger competitors. This study collects together evidence on how Ragusa compared to other economies of the region, and addresses the difficult question of why it outperformed its Dalmatian rivals (Kotor, Split and Zadar).
Author(s): O. Havrylyshyn, Nora Srzentiæ
Series: Palgrave Studies in Economic History
Publisher: Palgrave Macmillan
Year: 2014
Language: English
Pages: 263
Cover
Half-Title
Title
Copyright
Dedication
Contents
List of Figures
List of Tables
Acknowledgements
Part I Motivation and Overview
1 Introduction: Why Ragusa?
2 Key Aspects of the New Institutional Economics (NIE)
Part II Economic History of Ragusa/Dubrovnik
3 The History of Ragusa in an Eastern Mediterranean Context
4 Economic Evolution and Rise to Prosperity
5 Quantifying Ragusan Prosperity and Disproportionate East Mediterranean Role
6 The Relative Decline after Vasco da Gama Circumnavigation
Part III Prudent Macroeconomic Policies
7 The System of Governance, Wise Policies, and Market-Friendly Institutions
8 Macro Policies 1: Fiscal Probity: The Starting Point for Good Institutions (and the Other Way Around?)
9 Macro Policies 2: Monetary and Financial Prudence,Minimal Public Debt
Part IV Growth-Promoting Institutions
10 Institutions Friendly to Commerce: In Today’s Jargon, “Ease of Doing Business”
11 An Open Legal System with Effective Rule-of-Law
12 “Sufficient” Social Fairness Provides Stability
13 Maximal Diplomacy with Minimal Military
Part V Conclusions
14 How Unique Was Ragusa? Some Comparisons with Venice and Others
15 A Successful Case of Institutional Optimality before Its Time: What Lessons for the 21st Century?
Data Appendix
Notes
Bibliography
Index
