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Institutional reforms now and benefits tomorrow: How soon is tomorrow?

Author

Listed:
  • Pierre-Guillaume Méon
  • Khalid Sekkat
  • Laurent Weill

Abstract

This paper investigates the timing of the impact of changes in checks and balances on macroeconomic efficiency in a panel of countries. Using Battese and Coelli’s one-stage approach, we find that increasing checks and balances results in greater efficiency. Furthermore, the impact of institutional changes on efficiency is delayed, with a full effect showing after five to six years. This finding remains robust after distinguishing developed and developing countries, including country-fixed effects and using alternative functional forms of the production frontier and alternative measures of checks and balances. The relation is also robust to controlling for endogeneity.

Suggested Citation

  • Pierre-Guillaume Méon & Khalid Sekkat & Laurent Weill, 2009. "Institutional reforms now and benefits tomorrow: How soon is tomorrow?," ULB Institutional Repository 2013/92374, ULB -- Universite Libre de Bruxelles.
  • Handle: RePEc:ulb:ulbeco:2013/92374
    Note: This is a translation of: Institutional reforms now and benefits tomorrow: How soon is tomorrow?
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    Citations

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    Cited by:

    1. Axel Dreher & Pierre-Guillaume Méon & Friedrich Schneider, 2014. "The devil is in the shadow: Do institutions affect income and productivity or only official income and official productivity?," Post-Print CEB, ULB -- Universite Libre de Bruxelles, vol. 158(1-2), pages 121-141, January.
    2. Pierre-Guillaume Méon & Khalid Sekkat, 2016. "A time to throw stones, a time to reap: How long does it take for democratic transitions to improve institutional outcomes?," Working Papers CEB 16-016, ULB -- Universite Libre de Bruxelles.
    3. Christian Bjørnskov & Pierre-Guillaume Méon, 2015. "The productivity of trust," Post-Print CEB, ULB -- Universite Libre de Bruxelles, June.
    4. Jean Lacroix & Pierre-Guillaume Méon & Khalid Sekkat, 2017. "Do democratic transitions attract foreign investors and how fast?," Working Papers CEB 17-006, ULB -- Universite Libre de Bruxelles.

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