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Can I read Do Institutions Matter for Economic Growth? on EtoBox?
Do Institutions Matter for Economic Growth? by Mingyang Li; Subal C. Kumbhakar is a Economics, Econometrics and Finance article available to read on EtoBox.
What is Do Institutions Matter for Economic Growth? about?
Using a unique dataset assembled from several sources, we examine the effects of democracy, corruption, and economic freedom on economic growth for over one hundred countries. To allow for heterogeneous effects, we use a quantile regression approach. Our results support some findings in the literature, but also provide some new conclusions. In many cases, quantile regression estimates are quite different from those from GMM. We find that the positive effect of democracy is lower for the countries with a higher growth rate of GDP per capita, which may sound counter-intuitive to conventional wisdom. Likewise, we find that corruption "sands the wheels" ("greases the wheels") for the lowest (highest) GDP per capita growth countries. Economic freedom shows a positive effect on GDP per capita growth rate. Our results suggest that since democratic status is hard to change in the short run, certain current corruption control measures as well as economic freedom adjustment policies may be reconsidered, especially among the fastest and slowest growing countries. Keywords Economic growth • Corruption • Democracy • Economic freedom • Arellano and Bond estimator and Quantile regression JEL Clas
Who reads Do Institutions Matter for Economic Growth??
It is typically read by researchers, students, and practitioners in Economics, Econometrics and Finance.
- Author
- Mingyang Li; Subal C. Kumbhakar
- Publisher
- Springer Science and Business Media LLC
- Published
- 2022
- Language
- EN
- Field
- Economics, Econometrics and Finance (Social Sciences)