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¿Son Buenas las Crisis para el Crecimiento a Largo Plazo? El Papel de las Instituciones Políticas

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  • Eduardo A. Cavallo

    ()

  • Alberto Cavallo

Abstract

Este artículo ofrece evidencia empírica de la importancia que tienen las instituciones en determinar el resultado de las crisis sobre el crecimiento a largo plazo. Una vez que se explican los efectos no observados específicos del país y otras fuentes de endogeneidad, las instituciones políticas afectan el crecimiento mediante su interacción con las crisis. Los resultados sugieren que sólo los países con una democracia sólida, altos niveles de competencia política yrestricciones externassobre elgobierno pueden potencialmente beneficiarse con las crisis y utilizarlas como una oportunidad para mejorarsu producción per capita a largo plazo y el crecimiento productivo.

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Paper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 4590.

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Date of creation: Sep 2008
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Handle: RePEc:idb:wpaper:4590

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Cited by:
  1. Abdilahi Ali & Katsushi S. Imai, 2013. "Crises, Economic Integration and Growth Collapses in African Countries," The School of Economics Discussion Paper Series, Economics, The University of Manchester 1302, Economics, The University of Manchester.
  2. Yamamura, Eiji, 2011. "Institution and decomposition of natural-disaster impact on growth," MPRA Paper 35537, University Library of Munich, Germany.
  3. Andreas Assiotis & Kevin Sylwester, 2013. "Do the effects of corruption upon growth differ between democracies and autocracies?," University of Cyprus Working Papers in Economics, University of Cyprus Department of Economics 06-2013, University of Cyprus Department of Economics.
  4. Fidrmuc, Jan & Tichit, Ariane, 2013. "How I learned to stop worrying and love the crisis," Economic Systems, Elsevier, vol. 37(4), pages 542-554.
  5. Barry Eichengreen, 2011. "Crisis and Growth in the Advanced Economies: What We Know, What We Do not, and What We Can Learn from the 1930s," Comparative Economic Studies, Palgrave Macmillan, vol. 53(3), pages 383-406, September.
  6. Benarroch, Michael & Pandey, Manish, 2012. "The relationship between trade openness and government size: Does disaggregating government expenditure matter?," Journal of Macroeconomics, Elsevier, Elsevier, vol. 34(1), pages 239-252.
  7. Markus Jorra, 2011. "The Heterogeneity of Default Costs: Evidence from Recent Sovereign Debt Crises," MAGKS Papers on Economics, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung) 201151, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  8. ATI Abdessatar & BEN JAZIA Rachida, 2013. "Institutional Quality And Financial Stress: Experience From Emerging Country," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 8(3), pages 5-20, December.
  9. Doner, Richard, 2012. "Success as Trap? Crisis Response And Challenges To Economic Upgrading in Export-Oriented Southeast Asia," Working Papers, JICA Research Institute 45, JICA Research Institute.
  10. Yamamura, Eiji, 2011. "The changing effect of legal origin on death tolls in natural disasters from 1960 to 2008," MPRA Paper 33112, University Library of Munich, Germany.

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