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This is an attempt to derive broad, strategic lessons from the diverse experience with economic growth in last fifty years. The paper revolves around two key arguments. One is that neoclassical economic analysis is a lot more flexible than its practitioners in the policy domain have generally...
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slow growth, rampant protectionism, and rising inflation plagued Latin America for years, where corrupt institutions and …
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We estimate the respective contributions of institutions, geography, and trade in determining income levels around the … world, using recently developed instruments for institutions and trade. Our results indicate that the quality of … institutions trumps' everything else. Once institutions are controlled for, measures of geography have at best weak direct effects …
Persistent link: https://www.econbiz.de/10013224849
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 institutions, geography have at best weak direct effects on incomes, although it has …
Persistent link: https://www.econbiz.de/10013317779