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Statement von Klaus Regling, Generaldirektor ECFIN, Europäische Kommission, zur Podiumsdiskussion zum Thema "Umbruch der Weltwirtschaft: Welche Chancen hat der Innovations- und Produktionsstandort Deutschland?" auf der 58. Jahresversammlung des ifo Instituts am 25. Juni 2007.
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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...
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