Time and the Deep Determinants: Tortoise or Hare?

30 Pages Posted: 10 Aug 2008 Last revised: 27 Mar 2009

See all articles by Brian Kelleher Richter

Brian Kelleher Richter

University of Texas at Austin - Red McCombs School of Business

Jeffrey F. Timmons

NYU Abu Dhabi

Date Written: March 26, 2009

Abstract

We show how to recover observed upper bounds on the contribution to long-run average annualized growth rates attributable to the so-called deep determinants of growth-geography, institutions, culture, and genetic proximity-from a literature that has focused empirically on levels of income. Our analysis shows that each deep determinant has a small impact on long run average growth rates, except for institutions which have a non-negligible upper bound. Our analysis also raises critical issues that have not received sufficient attention in the literature: the time-horizons over which the deep-determinants act and the triggering events that set in them in motion. Taken together, our paper emphasizes that time is essential for the deep determinants to have a meaningful impact on development.

Keywords: Time, Growth, Geography, Culture, Institutions, Genetic Proximity, Deep Determinants

JEL Classification: O4, N1, E0

Suggested Citation

Richter, Brian Kelleher and Timmons, Jeffrey F., Time and the Deep Determinants: Tortoise or Hare? (March 26, 2009). Available at SSRN: https://ssrn.com/abstract=1213140 or http://dx.doi.org/10.2139/ssrn.1213140

Brian Kelleher Richter (Contact Author)

University of Texas at Austin - Red McCombs School of Business ( email )

2100 Speedway
B6500, CBA 5.250
Austin, TX 78712
United States
512-232-6751 (Phone)

HOME PAGE: http://briankrichter.com/

Jeffrey F. Timmons

NYU Abu Dhabi ( email )

PO Box 129188
Abu Dhabi
United Arab Emirates
(971) 262 84523 (Fax)

HOME PAGE: http://https://nyuad.nyu.edu/en/academics/faculty/jeffrey-timmons.html

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