This paper evaluates the role of technical change as a mediating channel through which the effects of institutions trickle down to affect growth volatility. Using different samples, estimation procedures and indicators of institutions and technical change, the results show that technical change...

This paper evaluates the role of technical change as a mediating channel through which the effects of institutions trickle down to affect macroeconomic volatility, crises and growth. Using different samples, estimation procedures and indicators of institutions and technical change, we find a...