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jul142008

Institutions rule

Tro det eller ej - jag har börjat förbereda höstens kurs i institutionell ekonomi.

"Institutions rule: The Primacy of Institutions Over Geography and Integration in Economic Development" av Rodrik m fl i Journal of Economic Growth är en utmärkt introduktionsartikel, av flera skäl:

  • den diskuterar magnituder och storlek på effekter - inte bara deras tecken
  • den har en pedagogisk diskussion kring endogent och exogent
  • den har kul och lite provocerande resultat
Abstract:
We estimate the respective contributions of institutions, geography, and trade in determining income levels around the world, using recently developed instrumental variables for institutions and trade. Our results indicate that the quality ofinstitutions "trumps" everything else.

Once institutions are controlled for, conventional measures of geography have at best weak direct effects on incomes, although they have a strong indirect effect by influencing the quality of institutions. Similarly, once institutions are controlled for, trade is almost always insignificant, and often enters the income equation with the "wrong" (i.e., negative) sign.

We relate our results to recent literature, and where differences exist, trace their origins to choices on samples, specification, and instrumentation.

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Reader Comments (2)

Kan man läsa den på distans från Medelhavet med sporadiska inlämningsuppgifter i s f tentor?
15 jul | Unregistered CommenterArvid
Nej!
9 aug | Registered Commenterbergh

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