Template-type: ReDIF-Paper 1.0
Author-Name: Bluhm, Richard
Author-Email: bluhm@merit.unu.edu
Author-Workplace-Name: UNU-MERIT / MGSOG, Maastricht University
Author-Name: Szirmai, Adam
Author-Email: szirmai@merit.unu.edu
Author-Workplace-Name: UNU-MERIT / MGSOG, Maastricht University
Title: Institutions and long-run growth performance: An analytic literature review of
	 the institutional determinants of economic growth 
Abstract: This paper provides an analytic review of selected contributions to the
	 study of institutions and economic growth. We review the contributions
	 to the study of institutional determinants of long-run growth by
	 Engerman and Sokoloff, and Acemoglu, Johnson and Robinson. We discuss
	 the work of Rodrik and others who focus on institutions and
	 institutional reform and take steps towards bridging the gap between the
	 study of long-run and short-run growth performances. In addition, we
	 review two new theoretical frameworks by North, Wallis and Weingast and
	 Khan that relate the structure of institutions to short-run volatility
	 and long-run growth trends. We survey a wide array of supplementary
	 econometric evidence and criticisms relating to each of these key
	 contributions. Special attention is given to identifying the underlying
	 causal relationships, the empirical methods and the kind of data used to
	 test theories and hypotheses found in the literature. Further, we
	 compare the findings in different strands of the literature using a
	 sources-of-growth framework which distinguishes between ultimate,
	 intermediate and proximate causes of growth and development.
Classification-JEL: O43, O30, O11
Keywords: growth, institutions, inequality, development 
Series: UNU-MERIT Working Papers
Creation-Date: 2012
Number: 2012-033
File-URL: https://unu-merit.nl/publications/wppdf/2012/wp2012-033.pdf
File-Format: application/pdf
File-Size: 275 Kb
Handle: RePEc:unm:unumer:2012033