Institutions, Trade, and Growth : Revisiting the Evidence
Several recent papers have attempted to identify the partial effects of trade integration and institutional quality on long-run growth using the geographical determinants of trade and the historical determinants of institutions as instruments. The authors show that many of the specifications in these papers are weakly identified despite the apparently good performance of the instruments in first-stage regressions. Consequently, they argue that the cross-country variation in institutions, trade, and their geographical and historical determinants is not very informative about the partial effects of these variables on long-run growth.
| Main Authors: | , |
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| Format: | Policy Research Working Paper biblioteca |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2003-03
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| Subjects: | TRADE INTEGRATION, GEOGRAPHIC VARIABLES, REGRESSION ANALYSIS, CROSS COUNTRY ANALYSIS ASYMPTOTIC DISTRIBUTION, BANKING SYSTEM, BENCHMARK, CAUSAL EFFECTS, CONFIDENCE INTERVALS, COVARIANCE, DUMMY VARIABLES, ECONOMIC ACTIVITY, ECONOMIC DEVELOPMENT, ENDOGENOUS VARIABLES, EQUATIONS, EXOGENOUS VARIABLES, GDP, GDP PER CAPITA, GROWTH RATES, GROWTH REGRESSION, INCOME, INSTITUTIONAL QUALITY, INSTRUMENTAL VARIABLES, INVESTMENT CLIMATE, LOGARITHMS, MATRICES, MATRIX, MORTALITY, PER CAPITA INCOME, PER CAPITA INCOMES, POOR PERFORMANCE, PRODUCTIVITY, PROPERTY RIGHTS, STANDARD ERRORS, VALIDITY, |
| Online Access: | http://documents.worldbank.org/curated/en/2003/03/2191891/institutions-trade-growth-revisiting-evidence http://hdl.handle.net/10986/18286 |
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