characteristics with rich countries. Good institutions such as strong property rights and rule-of-law are key amongst those … those institutions to developing countries. Worse, good informal institutions seem to be a necessary condition for formal … institutions to “stick”. However, to the extent that good institutions can arise as a “spontaneous order” from individuals …

sharing certain characteristics with rich countries or regions. Good institutions such as strong property rights and rule …

for a panel of 134 countries to identify the effect of institutions of economic freedom on the level of per capita income …