Rodrik, Dani; Subramanian, Arvind; Trebbi, Francesco - C.E.P.R. Discussion Papers - 2002
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 are controlled for, trade is almost always insignificant, and often enters the income equation with the 'wrong' (i …