TY - JOUR
T1 - Why not adopt better institutions?
AU - Richter, Brian Kelleher
AU - Timmons, Jeffrey F.
N1 - Funding Information:
Brian Kelleher Richter (corresponding author), Assistant Professor of Business, Economics, and Public Policy, Richard Ivey Business School, University of Western Ontario, 1151 Richmond Street North, London, ON N6A 3K7, Canada. Email: [email protected]. Jeffrey F. Timmons, Assistant Professor of Strategy, IE Business School, IE University, Calle Álvarez de Baena 4,1, Madrid 28006, Spain. Email: [email protected] This paper has benefited from conversations with Romain Wacziarg and Krislert Samphantharak along with comments from David Meyer and participants in a seminar at UCLA Anderson. Richter also acknowledges the support of the Center for International Business Education and Research (CIBER) at UCLA Anderson. Timmons thanks the UCLA International Institute for financial support. Any errors in this draft, however, are our own.
PY - 2012
Y1 - 2012
N2 - How much growth do (economic and legal) institutions cause? To quantify this effect, we adapted the baseline regression in Acemoglu, Johnson and Robinson's (2002, Quarterly Journal of Economics, 117(4), pp. 1231-1294) seminal work on the causal relationship between the quality of institutions and differences in modern-day income levels was adapted. We found that improving institutional quality by one standard deviation increased a country's average annual growth rate by only 0.4% from 1820 to 1995.
AB - How much growth do (economic and legal) institutions cause? To quantify this effect, we adapted the baseline regression in Acemoglu, Johnson and Robinson's (2002, Quarterly Journal of Economics, 117(4), pp. 1231-1294) seminal work on the causal relationship between the quality of institutions and differences in modern-day income levels was adapted. We found that improving institutional quality by one standard deviation increased a country's average annual growth rate by only 0.4% from 1820 to 1995.
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U2 - 10.1080/13600818.2012.677819
DO - 10.1080/13600818.2012.677819
M3 - Article
AN - SCOPUS:84866845558
SN - 1360-0818
VL - 40
SP - 272
EP - 281
JO - Oxford Development Studies
JF - Oxford Development Studies
IS - 2
ER -