Institutions and their Measures: A Black Box of Goodies
AbstractThe use of institutional measures in empirical work is widespread, but the question of what these measures actually capture and how they are constructed is something that is not given enough attention. Institutions and their measures are therefore like a “black box of goodies”: Something that we do not know much about but at the same time is given a very prominent role in explaining economic development. This paper is an attempt to deepen our understanding of institutional measures by critically examining four measures that have been given a prominent role in the recent literature on economic development.
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Bibliographic InfoPaper provided by University of Gothenburg, Department of Economics in its series Working Papers in Economics with number 206.
Length: 38 pages
Date of creation: 06 Apr 2006
Date of revision:
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Postal: Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden
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Institutions; Measurement; Methodology;
Find related papers by JEL classification:
- B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
- C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
- P48 - Economic Systems - - Other Economic Systems - - - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-05-20 (All new papers)
- NEP-PKE-2006-05-20 (Post Keynesian Economics)
- NEP-SOC-2006-05-20 (Social Norms & Social Capital)
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