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States and Markets: The Advantage of an Early Start

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  • Bockstette, Valerie
  • Chanda, Areendam
  • Putterman, Louis

Abstract

In this paper, an index of the depth of experience with state-level institutions, or state antiquity, is derived for a large set of countries. We show that state antiquity is significantly correlated with measures of political stability and institutional quality, with income per capita, and with the rate of economic growth between 1960 and 1995. State antiquity contributes significantly to the explanation of differences in growth rates, explaining half of the differences in growth rates between countries like China and Mauritania, which are located at the two ends of the spectrum. It is also a good instrument for "social infrastructure," which explains cross-country differences in worker productivity. Copyright 2002 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Journal of Economic Growth.

Volume (Year): 7 (2002)
Issue (Month): 4 (December)
Pages: 347-69

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Handle: RePEc:kap:jecgro:v:7:y:2002:i:4:p:347-69

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Roots of Political Centralization in Africa
    by Daron Acemoglu and James Robinson in Why Nations Fail on 2012-06-25 21:04:00
  2. Political Centralization in Africa
    by Mark Thoma in Economist's View on 2012-06-26 00:24:00
  3. Political Centralization in Africa
    by Economists View in FavStocks on 2012-06-26 07:38:59
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