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Measuring institutional quality in ancient Athens

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Author

Summary, in English

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.

Publishing year

2014

Language

English

Pages

279-310

Publication/Series

Journal of Institutional Economics

Volume

10

Issue

2

Document type

Journal article

Publisher

Cambridge University Press

Topic

  • Economics

Status

Published

Project

  • The Economics of Ancient Greece

ISBN/ISSN/Other

  • ISSN: 1744-1382