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

  • Eduardo A. Cavallo

    ()

  • Alberto Cavallo

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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