We ran principal component regressions of growth and income on existing measures of institutions to assess which are … the most important for economic performance. We find that broadly defined institutions of checks and balances as well as a …

resource measure, using alternative measures of both resources and institutions, and by studying different time periods. While … institutions are good enough. …

We report evidence that trust is the missing root relating education, institutions, and economic development. We … observe that more trust both increases education and improves legal and bureaucratic institutions, which in turn spurs … economic development. We substantiate this intuition with a series of regressions that provide evidence that trust determines …

provide the impetus to establish institutions which seek to enforce property rights. Institutions are shown to implement …