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Unbundled Institutions, Human Capital and Growth

journal contribution
posted on 2023-06-08, 06:10 authored by Sambit BhattacharyyaSambit Bhattacharyya
We investigate the partial effects of institutions and human capital on growth. We find that cross-country regressions of the log-level of per capita GDP on instrumented measures of institutions and schooling are uninformative about the relative importance of institutions and human capital in the long run because of multicollinearity problems. Using dynamic panel regressions we show that both institutions and human capital have significant effects on growth. Using Rodrik's (2005) four-way partition of institutions, we also unbundle institutions. We show that strong market creating institutions and market stabilising institutions are growth enhancing. Market regulating institutions matter up to a certain extent and market legitimising institutions does not seem to matter.

History

Publication status

  • Published

Journal

Journal of Comparative Economics

ISSN

0147-5967

Publisher

Elsevier

Issue

1

Volume

37

Page range

106-120

Department affiliated with

  • Economics Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2012-02-06

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