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Economic development, growth, institutions and geography

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  • Bhupatiraju, Samyukta

    ()
    (UNU-MERIT / MGSoG)

  • Verspagen, Bart

    ()
    (UNU-MERIT / MGSoG)

Abstract

In this paper, we test the Rodrik et al (2004) framework to explain differences in development levels across countries by using a broader set of definitions for institutions, geography and economic variables. We use a multi-faceted database to measure institutions in an attempt to go beyond the single-dimension measures that are often employed. We find that institutions trump other factors (geography and trade) when we use GDP per capita as an independent variable. When we expand the dependent variable to include other aspects of development, such as growth and investment, we find that institutions, growth and geography are all important variables. In this case, institutions no longer trump the other factors. In this case, we also find that the same institutions variable that was positively associated to GDP per capita is now negatively correlated with the more dynamic development variable.

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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 056.

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Date of creation: 2013
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Handle: RePEc:unm:unumer:2013056

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Keywords: institutions; geography; openness; governance; economic development;

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  1. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2002. "Institutions Rule: The Primacy of Institutions over Geography and Integration in Economic Development," NBER Working Papers 9305, National Bureau of Economic Research, Inc.
  2. Andrei Shleifer & Robert W. Vishny, 1998. "The Quality of Government," Harvard Institute of Economic Research Working Papers 1847, Harvard - Institute of Economic Research.
  3. Flavio Vilela Vieira & Aderbal Oliveira Damasceno, 2011. "Is There a Primary Roleof Institutions on Explaining Cross Country Differences in IncomeLevels and Long-Run Economic Growth?," Anais do XXXVII Encontro Nacional de Economia [Proceedings of the 37th Brazilian Economics Meeting] 77, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
  4. Rubinstein, Yona & Helpman, Elhanan & Melitz, Marc, 2008. "Estimating Trade Flows: Trading Partners and Trading Volumes," Scholarly Articles 3228230, Harvard University Department of Economics.
  5. Dollar, David & Kraay, Aart, 2001. "Growth is good for the poor," Policy Research Working Paper Series 2587, The World Bank.
  6. Stephen Knack & Philip Keefer, 1995. "Institutions And Economic Performance: Cross-Country Tests Using Alternative Institutional Measures," Economics and Politics, Wiley Blackwell, vol. 7(3), pages 207-227, November.
  7. Francisco Rodriguez & Dani Rodrik, 1999. "Trade Policy and Economic Growth: a Skeptic's Guide to the Cross-National Evidence," Working Papers 9912, Economic Research Forum, revised Apr 1999.
  8. Bhupathiraju, Samyukta & Verspagen, Bart & Ziesemer, Thomas, 2013. "Summarizing large spatial datasets: Spatial principal components and spatial canonical correlation," MERIT Working Papers 011, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  9. Dollar, David & Kraay, Aart, 2003. "Institutions, trade, and growth : revisiting the evidence," Policy Research Working Paper Series 3004, The World Bank.
  10. Bhupathiraju, Samyukta & Verspagen, Bart & Ziesemer, Thomas, 2013. "Summarizing large spatial datasets: Spatial principal components and spatial canonical correlation," MERIT Working Papers 011, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  11. Noguer, Marta & Siscart, Marc, 2005. "Trade raises income: a precise and robust result," Journal of International Economics, Elsevier, vol. 65(2), pages 447-460, March.
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