Flags, Constitutions, and the well-being of nations
This exploratory paper estimates the effects on well-being of two very important institutional symbols of 59 countries in 2007: national flags and constitutions. The results indicate that well-being responds positively to investment in material things as well as the existence of flags. However, nationalwell-being is highly inelastic with respect to measures of constitutions and national flag colors. In fact, nations with fewer flag colors, infrequent constitutional changes, and small constitutions tend to have higher well-being than others. I resist comment on what this all means, but it would seem GDP per capita, despite its obvious limitations, is still the most important influence on national well-being.
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- Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998.
"Law and Finance,"
Journal of Political Economy,
University of Chicago Press, vol. 106(6), pages 1113-1155, December.
- Rafael LaPorta & Florencio Lopez de-Silanes & Andrei Shleifer & Robert W. Vishny, 1996. "Law and Finance," Harvard Institute of Economic Research Working Papers 1768, Harvard - Institute of Economic Research.
- La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert W., 1998. "Law and Finance," Scholarly Articles 3451310, Harvard University Department of Economics.
- Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Robert W. Vishny, 1996. "Law and Finance," NBER Working Papers 5661, National Bureau of Economic Research, Inc.
- Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, . "Law and Finance," Working Paper 19451, Harvard University OpenScholar.
- repec:cup:cbooks:9780521586399 is not listed on IDEAS
- Cordeiro, Jose Luis, 2008. "Constitutions around the world : A View from Latin America," IDE Discussion Papers 164, Institute of Developing Economies, Japan External Trade Organization(JETRO).
- Torsten Persson & Guido Tabellini, 2004. "Constitutions and Economic Policy," Journal of Economic Perspectives, American Economic Association, vol. 18(1), pages 75-98, Winter.
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