Institutional Effect over Economic Growth: New Evidence for Latin America
AbstractIn lieu of the institutional hypothesis of economic growth, an economic model and an econometric model are proposed to explore how important institutional settings were for economic performance during the first ten years of the new millennium in Latin America. According to instrumental variables models, institutional quality explains 1.13 and 1.09 of income differences for the decade 2000 – 2010, holding formal and informal structural characteristics constant. The highest average income was greater in a factor of 5,6 than the lowest average income so that, giving econometric results, institutional quality accounts for 20% of such income gap. Compared with short term gains, only Argentina, Chile and Uruguay seem to have been implemented changes in technical efficiency during the decade relevant for Total Factor Productivity levels.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by UNIVERSIDAD CATOLICA DE COLOMBIA in its series DOCUMENTOS DE TRABAJO with number 009591.
Date of creation: 25 Apr 2012
Date of revision:
Contact details of provider:
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Afonso, António & Schuknecht, Ludger & Tanzi, Vito, 2003.
"Public sector efficiency: an international comparison,"
Working Paper Series
0242, European Central Bank.
- António Afonso & Ludger Schuknecht & Vito Tanzi, 2005. "Public sector efficiency: An international comparison," Public Choice, Springer, vol. 123(3), pages 321-347, June.
- Antonio Afonso & Ludger Schuknecht & Vito Tanzi, 2010.
"Public sector efficiency: evidence for new EU member states and emerging markets,"
Taylor & Francis Journals, vol. 42(17), pages 2147-2164.
- Afonso, António & Schuknecht, Ludger & Tanzi, Vito, 2006. "Public sector efficiency: evidence for new EU member states and emerging markets," Working Paper Series 0581, European Central Bank.
- António Afonso & Ludger Schuknecht & Vito Tanzi, 2006. "Public Sector Efficiency: Evidence for New EU Member States and Emerging Markets," Working Papers Department of Economics 2006/01, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
- James A. Robinson & Daron Acemoglu, 2000. "Political Losers as a Barrier to Economic Development," American Economic Review, American Economic Association, vol. 90(2), pages 126-130, May.
- Aron, Janine, 2000. "Growth and Institutions: A Review of the Evidence," World Bank Research Observer, World Bank Group, vol. 15(1), pages 99-135, February.
- Chang, Ha-Joon, 2006. "Understanding the Relationship between Institutions and Economic Development: Some Key Theoretical Issues," Working Paper Series DP2006/05, World Institute for Development Economic Research (UNU-WIDER).
- Langlois,Richard, 1989. "Economics as a Process," Cambridge Books, Cambridge University Press, number 9780521378598, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JOAN M. TEJEDOR E.).
If references are entirely missing, you can add them using this form.