Abstract
How much growth do (economic and legal) institutions cause? To quantify this effect, we adapted the baseline regression in Acemoglu, Johnson and Robinson's (2002, Quarterly Journal of Economics, 117(4), pp. 1231-1294) seminal work on the causal relationship between the quality of institutions and differences in modern-day income levels was adapted. We found that improving institutional quality by one standard deviation increased a country's average annual growth rate by only 0.4% from 1820 to 1995.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 272-281 |
| Number of pages | 10 |
| Journal | Oxford Development Studies |
| Volume | 40 |
| Issue number | 2 |
| DOIs | |
| State | Published - Jan 1 2012 |
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ASJC Scopus subject areas
- Geography, Planning and Development
- Development
Cite this
Why not adopt better institutions? / Richter, Brian Kelleher; Timmons, Jeffrey.
In: Oxford Development Studies, Vol. 40, No. 2, 01.01.2012, p. 272-281.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Why not adopt better institutions?
AU - Richter, Brian Kelleher
AU - Timmons, Jeffrey
PY - 2012/1/1
Y1 - 2012/1/1
N2 - How much growth do (economic and legal) institutions cause? To quantify this effect, we adapted the baseline regression in Acemoglu, Johnson and Robinson's (2002, Quarterly Journal of Economics, 117(4), pp. 1231-1294) seminal work on the causal relationship between the quality of institutions and differences in modern-day income levels was adapted. We found that improving institutional quality by one standard deviation increased a country's average annual growth rate by only 0.4% from 1820 to 1995.
AB - How much growth do (economic and legal) institutions cause? To quantify this effect, we adapted the baseline regression in Acemoglu, Johnson and Robinson's (2002, Quarterly Journal of Economics, 117(4), pp. 1231-1294) seminal work on the causal relationship between the quality of institutions and differences in modern-day income levels was adapted. We found that improving institutional quality by one standard deviation increased a country's average annual growth rate by only 0.4% from 1820 to 1995.
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UR - http://www.scopus.com/inward/citedby.url?scp=84866845558&partnerID=8YFLogxK
U2 - 10.1080/13600818.2012.677819
DO - 10.1080/13600818.2012.677819
M3 - Article
AN - SCOPUS:84866845558
VL - 40
SP - 272
EP - 281
JO - Oxford Development Studies
JF - Oxford Development Studies
SN - 1360-0818
IS - 2
ER -