Peter Murrell, Professor in the Economics Department, received his B.Sc. (Econ) and M.Sc. (Econ) from the London School of Economics and his Ph.D. from the University of Pennsylvania. He joined the Maryland faculty in 1977 as an assistant professor. He served as chair of the department from 2005 to 2012.
From his Ph.D. dissertation days, his research interests have always been in comparative economic institutions, focusing first on the socialist economies of Eastern Europe and the Soviet Union and on the social democracies of post-war Western Europe, then on the institutional reforms in post-Soviet countries and China, and currently on the genesis of the first modern economic and political institutions, those of 17th century England. He has undertaken field research, surveying firms-in Mongolia, Russia, and Romania, an experience that led him to develop new methods of improving the accuracy of survey estimates of corrupt activities. He has published 77 peer-reviewed journal articles, 20 chapters in collected editions, two books, and one edited collection.
Areas of Interest
- Comparative Economic Institutions
- English History
- Transition Economies
Degree TypePh.D.Degree DetailsEconomics, University of Pennsylvania
Degree TypeM.Sc.Degree DetailsStatistics, London School of Economics
Degree TypeB.Sc.Degree DetailsEconomics and Statistics, London School of Economics
|Course Name||Course Title||Semester||Syllabus|
|ECON848||Workshop in International Development, and Comparative Economics||Spring 2023|
|ECON410||Comparative Economic Institutions||Spring 2023|
|ECON111||Thinking Like an Economist||Fall 2022|
|ECON848||Workshop in International Development, and Comparative Economics||Fall 2022|
|ECON410||Comparative Economic Institutions||Fall 2022|
|ECON848||Workshop in International Development, and Comparative Economics||Spring 2022|
|ECON410||Comparative Economic Institutions||Spring 2022|
|ECON111||Thinking Like an Economist||Fall 2021|
|ECON848||Workshop in International Development, and Comparative Economics||Fall 2021|
|ECON410||Comparative Economic Institutions||Fall 2021|
|ECON708||Advanced Topics in Applied and Theoretical Microeconomics||Spring 2021|
|ECON848||Workshop in International Development, and Comparative Economics||Spring 2021|
- Using Topic-Modeling in Legal History, with an Application to Pre-Industrial English Case Law on Finance, , Law and History Review 40(2 ), 189 - 228, June .
- Did the Independence of Judges Reduce Legal Development in England, 1600-1800?, , The Journal of Law and Economics 64(3 ), 539–565, August .
- A machine-learning history of English caselaw and legal ideas prior to the Industrial Revolution II: applications, , Journal of Institutional Economics 17(2 ), 201-216, April .
- Characterizing a legal–intellectual culture: Bacon, Coke, and seventeenth-century England, , Cliometrica 15(1 ), 43 - 88, February .
- A machine-learning history of English caselaw and legal ideas prior to the Industrial Revolution I: generating and interpreting the estimates, , Journal of Institutional Economics 17(1 ), 1-19, January .
- Memories of Colonial Law: The Inheritance of Human Capital and the Location of Joint Ventures in Early-Reform China, , China Economic Review 58(1 ), 1-32, December .
- Toward Understanding 17th Century English Culture: A Structural Topic Model of Francis Bacon's Ideas, , Journal of Comparative Economics, 111-135, March .
- Caveat venditor: The conditional effect of relationship-specific investment on contractual behavior, , Journal of Law, Economics, & Organization 33(1), 105-138, March .
- Design and evolution in institutional development: The insignificance of the English Bill of Rights, , Journal of Comparative Economics 45(1), 36-55, February .
- A Darwinian Theory of Institutional Development Two Centuries Before Darwin, , Journal of Economic Behavior & Organization 131(A ), 346-372, November .
- Misunderestimating Corruption, , The Review of Economics and Statistics 98(3 ), 455-466, July .
- Revisiting the Emergence of the Rule of Law in Russia, , Global Crime 16(1 ), 19-33, January .
- Spatial Spillovers in the Development of Institutions, , Journal of Development Economics 101, 297-315, March .
- The Way We Were: Reflections on the Comparative History of Comparative Economics, , Comparative Economic Studies 53, 489-505, December .
- Fostering Civil Society to Build Institutions: Why and When, , Economics of Transition 17(1 ), 1-41, January .
- Identifying Reticent Respondents: Assessing the Quality of Survey Data on Corruption and Values, , Economic Development and Cultural Change 57(2 ), 387-411, January .
- Allocating Law-Making Powers: Self-Regulation vs. Government Regulation, , Journal of Comparative Economics 35(3 ), 520-545, September .
- Lawyers and Politicians: The Impact of Organized Legal Professions on Institutional Reforms, , Constitutional Political Economy 17(4 ), 251-276, December .
- Firms Facing New Institutions: Transactional Governance in Romania, , Journal of Comparative Economics 31(4 ), 695-714, December .
- Glamour and Value in the Land of Chingis Khan, , Journal of Comparative Economics 31(1 ), 34-57, March .
- Which Mechanisms Support the Fulfillment of Sales Agreements? Asking Decision-makers in Firms, , Economics Letters 78(1 ), 49-54, January .
- Enterprise Restructuring in Transition: A Quantitative Survey, , Journal of Economic Literature 40(3 ), 739-792, September .
- Agents of Change or Unchanging Agents? The Role of Lawyers within Russian Industrial Enterprises, , Law and Social Inquiry 26(3 ), 685-715, July .
- Punitive Damages for Contractual Breaches in Comparative Perspective: The Use of Penalties by Russian Enterprises, , Wisconsin Law Review 3, 639-679, January .
- Competition and Privatization Amidst Weak Institutions: Evidence from Mongolia, , Economic Inquiry 38(4 ), 527-549, October .
- Law, Relationships, and Private Enforcement: Transactional Strategies of Russian Enterprises, , Europe-Asia Studies 52(4 ), 627-656, June .
- Which Enterprises (Believe They) Have Soft Budgets? Evidence on the Effects of Ownership and Decentralization in Mongolia, , Journal of Comparative Economics 28(2 ), 219-246, June .
- A Regional Analysis of Transactional Strategies of Russian Enterprises, , McGill Law Journal 44, 433-472, January .
- Do Repeat Players Behave Differently in Russia? An Evaluation of Contractual and Litigation Behavior of Russian Enterprises, , Law & Society Review 33(4 ), 833-867, December .
- Ownership, Exit, and Voice after Mass Privatization: Evidence from Mongolia, , Economics of Transition 7(1 ), 215-243, March .
- The Relationship between Economic Growth and the Speed of Liberalization During Transition, , Journal of Policy Reform 3(2 ), 121-137, January .
- End of the Tunnel? The Effects of Financial Stabilization in Russia, , Post-Soviet Affairs 13(2 ), 105-133, May .
- Enterprise-State Relations after Mass Privatization: Their Character in Mongolia, , MOCT-MOST 7(4 ), 81-99, December .
- Observations on the Use of Law by Russian Enterprises, , Post-Soviet Affairs 13(1 ), 19-41, February .
- The Effects of Government Decentralization During Transition: Evidence on Enterprise-State Relations in Mongolia, , Post-Soviet Geography and Economics 38(4 ), 230-246, April .
- How far has the transition progressed?, , Journal of Economic Perspectives 10(2 ), 25-44, April .
- The Culture of Policy-Making in the Transition from Socialism: Price Policy in Mongolia, , Economic Development and Cultural Change 45(1 ), 175-194, October .
- The Politics and Economics of Mongolia's Privatization Program, , Asian Survey 35(5 ), 472-486, May .
- The Transition According to Cambridge, Mass., , Journal of Economic Literature 33(1 ), 164-178, March .
- Playing Political Economy: The Goals and Outcomes of Russia's Economic Reforms of 1992, , International Journal of Political Economy 24(1 ), 34-51, April .
- What is Shock Therapy? What Did it Do in Poland and Russia, , Post-Soviet Affairs 9(2 ), 111-140, April .
- When Privatization Should Be Delayed: The Effects of Communist Legacies on Organizational and Institutional Development, , Journal of Comparative Economics 17(2 ), 385-406, June .
- Conservative Political Philosophy and the Strategy of Economic Transition, , East European Politics and Societies 6(1 ), 3-16, December .
- Evolutionary and Radical Approaches to Economic Reform, , Economics of Planning 25(1 ), 79-95, January .
- A Methodology for Testing Comparative Economic Theories: Theory and Application to East-West Environmental Policies, , Journal of Comparative Economics 15(4 ), 582-601, December .
- Can Neoclassical Economics Underpin the Economic Reform of the Centrally-Planned Economies?, , Journal of Economic Perspectives 5(4 ), 59-76, September .
- Industry Characteristics And Interest Group Formation: An Empirical Study, , Public Choice 70(1 ), 21-40, April .
- Public Choice and the Transformation of Socialism: An Introduction, , Journal of Comparative Economics 15(2 ), 203-210, June .
- Symposium on Economic Transition in the Soviet Union and Eastern Europe, , Journal of Economic Perspectives 5(4 ), 3-9, September .
- The Devolution of Centrally Planned Economies, , Journal of Comparative Economics 15(2 ), 239-265, June .
- Electoral Politics, Interest Groups, and the Size of Government, , Economic Inquiry 28(4 ), 682-705, October .
- Result-Oriented and Process-Oriented Evaluations of Indicative Planning, , Journal of Comparative Economics 14(4 ), 555-559, December .
- How to Haggle and Stay Firm: Barter as Mutual Price Discrimination, , Economic Inquiry 26(3 ), 449-459, July .
- A Note on Variables and Observations in Factor Analysis, , Journal of Development Economics 21(2 ), 319-325, May .
- Interest Groups and the Size of Government, , Public Choice 48(2 ), 125-145, January .
- The Size of Public Employment: An Empirical Study, , Journal of Comparative Economics 9(4 ), 424-437, December .
- An Examination of the Factors Affecting the Formation of Interest Groups in OECD Countries, , Public Choice 43(2 ), 151-171, January .
- Incentives and Income Under Market Socialism, , Journal of Comparative Economics 8(3 ), 261-276, September .
- The Applicability of Information-Revealing Incentive Schemes in Economic Organizations, , Journal of Comparative Economics 8(3 ), 277-289, September .
- Did the Theory of Market Socialism Answer the Challenge of Ludwig von Mises? A Reinterpretation of the Socialist Controversy, , History of Political Economy 15(1 ), 92-105, April .
- The Economics of Sharing: A Transactions Cost Analysis of Contractual Choice in Farming, , The Bell Journal of Economics 14(1 ), 283-293, April .
- Comparative Growth and Comparative Advantage: Tests of the Effects of Interest Group Behavior on Foreign Trade Patterns, , Public Choice 38(1 ), 35-53, March .
- Product Quality, Market Signaling, and the Development of East-West Trade, , Economic Inquiry 20(4 ), 589-603, October .
- The Comparative Structure of Growth in the Major Developed Capitalist Nations, , Southern Economic Journal 48(4 ), 985-995, April .
- An Evaluation of the Success of the Hungarian Economic Reform: An Analysis Using International Trade Data, , Journal of Comparative Economics 5(4 ), 352-366, December .
- Endogenous Technological Change and Optimal Growth, , Eastern Economic Journal 7(2 ), 97-109, April .
- Limitations on the Use of Information Revealing Incentive Schemes in Economic Organizations, , Journal of Comparative Economics 5(3 ), 251-271, September .
- National Economic Planning in the West: An Interpretation, , Jahrbuch der Wirtschaft Osteuropas 9(2 ), 245-265, January .
- The Microeconomic Efficiency Argument for Socialism Re-Revisited, , Journal of Economic Issues 15(1 ), 211-219, March .
- Optimal Growth Models as Economic Planning Tools, , Economics of Planning 16(2 ), 92-101, January .
- The Use of the Maximin Principle as a Criterion for Just Savings, , The Scandinavian Journal of Economics 82(1 ), 15-24, January .
- Planning and Coordination of Economic Policy in Market Economies, , Journal of Comparative Economics 3(2 ), 145-166, June .
- Representation of Choice in Long-Term Planning, , American Economist 23(2 ), 24-30, September .
- The Performance of Multiperiod Managerial Incentive Schemes, , American Economic Review 69(5 ), 934-940, December .
- The Problem of Equity in Determining Managerial Rewards in Public Enterprises, , Journal of Comparative Economics 3(4 ), 407-415, December .
- Non-Price Rationing of Intermediate Goods in Centrally Planned Economies: A Comment, , Econometrica 45(1 ), 175-180, January .