idea that governments use public investment as a vehicle for rent seeking. We also find that lower quality of governance …

estimations suggest that national governance factors, such as democratic accountability, press freedom, and rule of law, are …

, characterized by a non-monotonic pattern. The results are robust to two measurements of institutions and governance indicators, as …

We test the relationship between governance and macroeconomic technical efficiency on a sample of 62 countries, both … governance, measured by six complementary indices each devoted to a different dimension of governance, is always associated with … greater efficiency. However, when governance variables are tested against each other, we observe that government efficiency is …