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A dozen countries had weak institutions in 1960 and yet sustained high rates of growth subsequently. We use data on … their characteristics early in the growth process to create benchmarks with which to evaluate potential constraints on … sustained growth for sub-Saharan Africa. This analysis suggests that what are usually regarded as first-order problems …
Persistent link: https://www.econbiz.de/10014399978
We estimate the respective contributions of institutions, geography, and trade in determining cross-country income levels using recently developed instruments for institutions and trade. Our results indicate that the quality of institutions ""trumps"" everything else. Controlling for...
Persistent link: https://www.econbiz.de/10014401492