Market-Mobilized Capital

Theory suggests that capital is more likelyto be efficiently allocated via marketmechanisms, such as bank lending and stockissuance, than via non-market allocation. Consequently, we conjecture that increasedmarket allocation of capital will enhanceeconomic growth. We also posit that goodcollateral and corporate law will increasethe allocation of capital via debt andequity markets, respectively. Usingmeasures of statutory law as instrumentsfor market-mobilized capital, to controlfor its endogeneity in a cross-countrygrowth regression, we demonstrate a clearcausal link between financial marketdevelopment and economic performance.     

Electro-acupuncture to prevent prolonged postoperative ileus:A randomized clinical trial

AIM:To examine whether acupuncture can prevent prolonged postoperative ileus(PPOI)after intraperitoneal surgery for colon cancer. METHODS:Ninety patients were recruited from the Fudan University Cancer Hospital,Shanghai,China. After surgery,patients were randomized to receive acupuncture(once daily,starting on postoperative day 1, for up to six consecutive days)or usual care.PPOI was defined as an inability to pass flatus or have a bowel movement by 96 h after surgery.The main outcomes were time to first fl...     

Desperation votes and private interests: an analysis of Confederate trade legislation

The Confederate Congress passed draconian trade legislation in February 1864 to regulate the blockade running business in contrast to their free trade agenda. This legislation created higher prices and deadweight costs except in areas under Union control. We examine the series of votes and proposed amendments relating to the passage of this legislation and find that representatives were more likely to vote for trade regulations if their districts would be largely unaffected by the legislation, such as those districts under Union occupation. This private interest explanation provides a heretofore unexplored historical example of public choice theory under extreme conditions.