institutions. We bolster these baseline findings using an instrumental-variables strategy exploiting regional democratization waves …

this change to the reversal in the nature of economic institutions, which eat underwent a series of growth …

institutions. We bolster these baseline findings using an instrumental-variables strategy exploiting regional democratization waves …

This paper develops the empirical and theoretical case that differences in economic institutions are the fundamental … cause of differences in economic development. We first document the empirical importance of institutions by focusing on two … “quasi-natural experiments” in history, the division of Korea into two parts with very different economic institutions and …

the answer may be no is that countries pursuing poor macroeconomic policies also have weak ‘institutions’, including … political institutions that do not constrain politicians and political elites, ineffective enforcement of property rights for … more ‘extractive’ institutions from their colonial past were more likely to experience high volatility and economic crises …