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Institutions and growth - a ranking of OECD countries

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  • Wolfgang Ochel
  • Anja Rohwer
  • Anja Hülsewig

Abstract

It is useful to know whether the institutional rules of individual countries display characteristics with which a high per capita income can be achieved. Such an appraisal can be made with the institutional index that has been developed by the Ifo Institute together with Theo Eicher of the University of Washington, Seattle. The index provides a means of measuring the quality of a country's institutions. For 2009 the changes in the index run parallel to the changes in per-capita income in the OECD countries. This means that the mean of institutional indicators, with their time delays, are good predictors of economic growth in the OECD countries. Responsible for the rise in the institutional index and hence also for the growth of OECD countries as a whole were above all an increase in human capital, labour-market reforms and structural adjustments in government spending.

Suggested Citation

  • Wolfgang Ochel & Anja Rohwer & Anja Hülsewig, 2010. "Institutions and growth - a ranking of OECD countries," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 63(09), pages 25-31, May.
    • Handle: RePEc:ces:ifosdt:v:63:y:2010:i:09:p:25-31
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    1. repec:ces:ifodic:v:5:y:2007:i:1:p:14567286 is not listed on IDEAS
    2. Wolfgang Ochel & Oliver Röhn, 2008. "Indikatorenbasierte Länderrankings," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 9(2), pages 226-251, May.
    3. Wolfgang Ochel & Rigmar Osterkamp, 2007. "What Does the Institutions Climate Index for OECD Countries Tell us about Institutional Change and Economic Policy Reforms?," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 5(1), pages 50-62, 05.
    4. Theo Eicher & Wolfgang Ochel & Oliver Roehn & Anja Rohwer & Anja Hülsewig, 2008. "Institutions and economic growth in OECD countries," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 61(11), pages 28-36, June.
    5. Theo Eicher & Oliver Röhn, 2007. "Institutional Determinants of Economic Performance in OECD Countries – An Institutions Climate Index," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 5(1), pages 38-49, 05.
    6. Wolfgang Ochel & Rigmar Osterkamp, 2007. "What Does the Institutions Climate Index for OECD Countries Tell us about Institutional Change and Economic Policy Reforms?," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 5(01), pages 50-62, May.
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    More about this item

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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