1 option
Institutions Rule : the primacy of institutions over geography and integration in economic development / Dani Rodrik, Arvind Subramanian, Francesco Trebbi.
- Format:
- Book
- Author/Creator:
- Rodrik, Dani, author.
- Trebbi, Francesco, author.
- Subramanian, Arvind, author.
- Series:
- Working paper series (National Bureau of Economic Research) ; Number 9305.
- Working paper series (National Bureau of Economic Research) ; Number 9305
- Language:
- English
- Subjects (All):
- Associations, institutions, etc.
- Economic development--Econometric models.
- Economic development.
- Institutional economics.
- Physical Description:
- 1 online resource (23, 21 unnumbered pages) : illustrations.
- Place of Publication:
- Cambridge, MA : National Bureau of Economic Research, 2002.
- Summary:
- We estimate the respective contributions of institutions, geography, and trade in determining income levels around the world, using recently developed instruments for institutions and trade. Our results indicate that the quality of institutions trumps' everything else. Once institutions are controlled for, measures of geography have at best weak direct effects on incomes, although they have a strong indirect effect by influencing the quality of institutions. Similarly, once institutions are controlled for, trade is almost always insignificant, and often enters the income equation with the wrong' (i.e., negative) sign, although trade too has a positive effect on institutional quality. We relate our results to recent literature, and where differences exist, trace their origins to choices on samples, specification, and instrumentation.
- Notes:
- Description based on publisher supplied metadata and other sources.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.