Grimm, Michael; Klasen, Stephan - Ibero-Amerika Institut für Wirtschaftsforschung (IAI), … - 2008
There is a well-known debate about the roles of geography versus institutions in explaining the long-term development … heterogeneity, unobserved heterogeneity, and endogeneity cannot easily be controlled for. The innovation of Acemoglu, Johnson and … institutions and found that this supported their line of reasoning. We believe there is value-added to consider this debate at the …