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Institutions and long-run growth performance: An analytic literature review of the institutional determinants of economic growth

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  • Bluhm, Richard

    ()
    (UNU-MERIT / MGSOG, Maastricht University)

  • Szirmai, Adam

    ()
    (UNU-MERIT / MGSOG, Maastricht University)

Abstract

This paper provides an analytic review of selected contributions to the study of institutions and economic growth. We review the contributions to the study of institutional determinants of long-run growth by Engerman and Sokoloff, and Acemoglu, Johnson and Robinson. We discuss the work of Rodrik and others who focus on institutions and institutional reform and take steps towards bridging the gap between the study of long-run and short-run growth performances. In addition, we review two new theoretical frameworks by North, Wallis and Weingast and Khan that relate the structure of institutions to short-run volatility and long-run growth trends. We survey a wide array of supplementary econometric evidence and criticisms relating to each of these key contributions. Special attention is given to identifying the underlying causal relationships, the empirical methods and the kind of data used to test theories and hypotheses found in the literature. Further, we compare the findings in different strands of the literature using a sources-of-growth framework which distinguishes between ultimate, intermediate and proximate causes of growth and development.

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File URL: http://www.merit.unu.edu/publications/wppdf/2012/wp2012-033.pdf
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Bibliographic Info

Paper provided by United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) in its series MERIT Working Papers with number 033.

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Date of creation: 2012
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Handle: RePEc:unm:unumer:2012033

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Related research

Keywords: growth; institutions; inequality; development;

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References

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  1. Bonnie Wilson & Dennis Coates & Jac Heckelman, 2007. "Determinants of Interest Group Formation," Working Papers 2007-03, Saint Louis University, Department of Economics.
  2. Guido Tabellini, 2007. "Culture and Institutions: Economic Development in the Regions of Europe," Levine's Working Paper Archive 321307000000000974, David K. Levine.
  3. Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output per Worker than Others?," NBER Working Papers 6564, National Bureau of Economic Research, Inc.
  4. Alessandro Nuvolari, 2001. "Collective Invention during the British Industrial Revolution The Case of the Cornish Pumping Engine," DRUID Working Papers 01-05, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
  5. Daron Acemoglu & María Angélica Bautista & Pablo Querubín & James A. Robinson, 2007. "Economic and Political Inequality in Development: The Case of Cundinamarca, Colombia," NBER Working Papers 13208, National Bureau of Economic Research, Inc.
  6. Szirmai,Adam, 2005. "The Dynamics of Socio-Economic Development," Cambridge Books, Cambridge University Press, number 9780521520843, October.
  7. Simon Johnson & William Larson & Chris Papageorgiou & Arvind Subramanian, 2009. "Is Newer Better? Penn World Table Revisions and Their Impact on Growth Estimates," NBER Working Papers 15455, National Bureau of Economic Research, Inc.
  8. Nuvolari, A., 2004. "Collective invention during the British Industrial Revolution: the case of the Cornish pumping engine," Working Papers 04.02, Eindhoven Center for Innovation Studies.
  9. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2004. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," Journal of Economic Growth, Springer, vol. 9(2), pages 131-165, 06.
  10. Daron Acemoglu & James A. Robinson, 2008. "Persistence of Power, Elites, and Institutions," American Economic Review, American Economic Association, vol. 98(1), pages 267-93, March.
  11. Diego Comin & William Easterly & Erick Gong, 2010. "Was the Wealth of Nations Determined in 1000 BC?," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(3), pages 65-97, July.
  12. Szirmai, Adam, 2008. "Explaining Success and Failure in Development," MERIT Working Papers 013, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  13. Sachs, Jeffrey D, 1992. "Privatization in Russia: Some Lessons from Eastern Europe," American Economic Review, American Economic Association, vol. 82(2), pages 43-48, May.
  14. Rodrik, Dani, 1998. "Where Did all the Growth Go? External Shocks, Social Conflict and Growth Collapses," CEPR Discussion Papers 1789, C.E.P.R. Discussion Papers.
  15. Easterly, W & Levine, R, 1996. "Africa's Growth Tragedy : Policies and Ethnic Divisions," Papers 536, Harvard - Institute for International Development.
  16. Torsten Persson & Guido Tabellini, 2005. "The Economic Effects of Constitutions," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262661926, December.
  17. Daron Acemoglu & James A. Robinson & Thierry Verdier, 2004. "Alfred Marshall Lecture: Kleptocracy and Divide-and-Rule: A Model of Personal Rule," Journal of the European Economic Association, MIT Press, vol. 2(2-3), pages 162-192, 04/05.
  18. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change
    [Understanding the Process of Economic Change]
    ," Introductory Chapters, Princeton University Press.
  19. anonymous, 2010. "2009 Ad Hoc Reviewers," Marketing Science, INFORMS, vol. 29(1), pages 195-198, 01-02.
  20. Szirmai, Adam, 2012. "Proximate, intermediate and ultimate causality: Theories and experiences of growth and development," MERIT Working Papers 032, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
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Citations

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Cited by:
  1. John Foster, 2013. "Energy, Knowledge and Economic Growth," Papers on Economics and Evolution 2013-01, Max Planck Institute of Economics, Evolutionary Economics Group.
  2. Szirmai, Adam, 2013. "Institutions and economic growth: Summary and synthesis," MERIT Working Papers 070, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  3. Bluhm, Richard & Crombrugghe, Denis de & Szirmai, Adam, 2012. "Explaining the dynamics of stagnation: An empirical examination of the North, Wallis and Weingast approach," MERIT Working Papers 040, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).

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