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Investment, institutions, and governance in Asia

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  • Emmanuel S. de Dios

    (School of Economics, University of the Philippines Diliman)

  • Geoffrey M. Ducanes

    (School of Economics, University of the Philippines Diliman)

Abstract

We investigate the extent to which the investment slowdown in many Asian countries since the Asian Financial Crisis is attributable to changes in governance institutions. In the process we test the more general hypothesis that different aspects of governance will become relevant constraints to investment and growth at differing levels of countries’ development. This hypothesis is validated and explains a standing paradox that finds certain governance aspects – notably voice and accountability and control of corruption – do not apparently figure as explanations in the average growth record. We show that in fact they do, though only at certain levels of development.

Suggested Citation

  • Emmanuel S. de Dios & Geoffrey M. Ducanes, 2011. "Investment, institutions, and governance in Asia," UP School of Economics Discussion Papers 201107, University of the Philippines School of Economics.
  • Handle: RePEc:phs:dpaper:201107
    as

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    File URL: http://www.econ.upd.edu.ph/dp/index.php/dp/article/viewFile/675/140
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