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Unbundled Institutions, Human Capital and Growth
journal contribution
posted on 2023-06-08, 06:10 authored by Sambit BhattacharyyaSambit BhattacharyyaWe 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.
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Publication status
- Published
Journal
Journal of Comparative EconomicsISSN
0147-5967Publisher
ElsevierExternal DOI
Issue
1Volume
37Page range
106-120Department affiliated with
- Economics Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2012-02-06Usage metrics
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