Institutional Change: Abolishing the Guild System in the Grand Duchy of Hesse-Darmstadt
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Institutional Change: Abolishing the Guild System in the Grand Duchy of Hesse-Darmstadt
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. (2025), Online First : pp. 1–12
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Volker Caspari, Goethe University Frankfurt, Frankfurt am Main, Germany
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Abstract
The present article outlines a 15-year body of research in institutional economics investigating the influence of institutions on economic growth and development processes. The study explores whether institutional changes act as a catalyst for significant economic and social developments, using the abolition of the guild system in two neighbouring states of the Confederation of the Rhine and since 1815 of the German Confederation – Hesse-Darmstadt and Hesse-Nassau – as a case study.