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Institutions and Economic Growth: An Empirical Assessment of the Post WW II Era

21 Pages Posted: 1 Sep 2010  

Peter Frank Nardulli

University of Illinois College of Law

Buddy Peyton

University of Illinois at Urbana-Champaign - Cline Center for Democracy

Joseph W. Bajjalieh

University of Illinois at Urbana-Champaign - Cline Center for Democracy

Date Written: August 26, 2010

Abstract

This paper uses data from an on-going project, the Societal Infrastructures and Development Project (SID) to examine the determinants of wealth. The analysis focuses on institutions (economic, legal and political) and national contexts (education, geography, natural resources). The data enhancements generated by SID make it possible to employ a panel format to analyze 157 countries from 1950-2004. Using cross-sectional, time-series analysis we find that measures of human capital, rule of law, democracy, openness to trade, and natural resources are key variables in explaining the difference in income levels across countries and time; measures of geography and the degree to which the government is involved in a country’s economy are insignificant.

Keywords: wealth, institutions, rule of law, geography, natural resources

Suggested Citation

Nardulli, Peter Frank and Peyton, Buddy and Bajjalieh, Joseph W., Institutions and Economic Growth: An Empirical Assessment of the Post WW II Era (August 26, 2010). Available at SSRN: https://ssrn.com/abstract=1668660 or http://dx.doi.org/10.2139/ssrn.1668660

Peter Frank Nardulli (Contact Author)

University of Illinois College of Law ( email )

504 E. Pennsylvania Avenue
Champaign, IL 61820
United States

Buddy Peyton

University of Illinois at Urbana-Champaign - Cline Center for Democracy ( email )

Suite 207
2001 South First Street
Champaign, IL 61820
United States

Joseph W. Bajjalieh

University of Illinois at Urbana-Champaign - Cline Center for Democracy ( email )

Suite 207
2001 South First Street
Champaign, IL 61820
United States

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