Title data
Röthel, Tim ; Leschke, Martin:
Do institutions matter in the very long-run? : New evidence from OECD countries.
Bayreuth
,
2023
Abstract in another language
Institutions are an important determinant of long-run economic growth. However, most studies only examine this relationship over a relatively short period and do not regularly include institutional variables in growth models. This article applies the pooled mean group (PMG) estimator to a panel of 18 OECD countries over 138 years.
We find evidence that institutions matter for economic growth in the very long-run and conclude that economists should include them in any empirical application of the neoclassical growth model. Our result is robust to various robustness checks.
Further data
Item Type: | Working paper, discussion paper |
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Keywords: | Institutions; Growth; PMG estimator; OECD |
Subject classification: | O11, O47 |
Institutions of the University: | Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics V - Institutional Economics |
Result of work at the UBT: | Yes |
DDC Subjects: | 300 Social sciences > 330 Economics |
Date Deposited: | 06 Apr 2023 06:52 |
Last Modified: | 06 Apr 2023 06:52 |
URI: | https://eref.uni-bayreuth.de/id/eprint/75846 |