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Measuring institutional quality in ancient Athens

Published online by Cambridge University Press:  24 January 2014

ANDREAS BERGH  and
CARL HAMPUS LYTTKENS
ANDREAS BERGH*
Affiliation:
Department of Economics, Lund University, Lund, Sweden, and The Research Institute of Industrial Economics, Stockholm
CARL HAMPUS LYTTKENS*
Affiliation:
Department of Economics, Lund University, Lund, Sweden
*
*Email: [email protected]
**Email: [email protected]
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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.

Type
Research Article
Information
Journal of Institutional Economics , Volume 10 , Issue 2 , June 2014 , pp. 279 - 310
Copyright
Copyright © Millennium Economics Ltd 2014 

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