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Institutions and economic growth: Summary and synthesis

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  • Szirmai, Adam

    () (UNU-MERIT)

Abstract

This paper provides a review and synthesis of the findings of the second phase of a research project on institutions and long-run economic performance. It discusses research findings in five areas, namely (1) the relationship between institutional characteristics and the duration of economic slumps; (2) the relative importance for growth of institutions, trade openness and geography; (3) the determinants and consequences of state capacities; (4) the interactions between institutions, foreign direct investment and domestic investment; and (5) the relative contributions of growth and inequality to poverty reduction. The paper concludes with recommendations for future research in the field of institutions and economic development.

Suggested Citation

  • Szirmai, Adam, 2013. "Institutions and economic growth: Summary and synthesis," MERIT Working Papers 070, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    • Handle: RePEc:unm:unumer:2013070
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    References listed on IDEAS

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    More about this item

    Keywords

    Institutions; Economic Growth; State Capacity; Foreign Direct Investment; FDI; Poverty;

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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