Institutions and Economic Performance: Cross-Country Tests Using Alternative Institutional Indicators

MPRA Paper from University Library of Munich, Germany

Abstract: This paper compares more direct measures of the institutional environment with both the instability proxies used by Barro (1991) and the Gastil indices, by comparing their effects both on growth and private investment. The results provide substantial support for the position that the institutional roots of growth and convergence are significant. The marked improvement that these new variables represent over existing proxies also suggests that there are substantial returns to future research into variables that reflect the security of property rights and the efficiency with which states determine economic policies and allocate public goods.

Keywords: governance; institutions; growth; property rights (search for similar items in EconPapers)
JEL-codes: O11 O17 O43 (search for similar items in EconPapers)
Date: 1995-11-01
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Citations: View citations in EconPapers (778)

Published in Economics and Politics 3.7(1995): pp. 207-228

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:23118

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