Braunfels, Elias - Institutt for samfunnsøkonomi, Norges Handelshøyskole … - 2014
This paper provides evidence for the mutually reinforcing relation of political and economic institutions. To overcome … instrument biases. My major findings are that (i) improving economic institutions has a large positive effect on future political … institutions, and (ii) political institutions have a positive but quantitatively smaller eect on current economic institutions. In …