This article contributes to the growth literature by developing a formal growth model that provides the basis for studying institutions and technological innovation and examining how human capital and institutional constraints affect the transitional and steady state growth rates of output. The...

This article contributes to the growth literature by developing a formal growth model that provides the basis for studying institutions and technological innovation and examining how human capital and institutional constraints affect the transitional and steady state growth rates of output. The...

In this paper, we discuss the relationship between productivity, accumulation and institutions. We start from the idea that accumulation and productivity are connected by complex non-linear relations, which are amplified or attenuated by the system of rules that affects trade, decisions and...

In this paper we argue that the answer is yes. Our optimism rests on the finding that differences in the level of institutional quality predict cross-country variation in African economic growth during the period 1995-2011. This finding is quite robust. It holds in OLS, LAD and 2SLS settings; it...

We create a dataset of country experience with economic depression around the world. We define a depression episode as a period of cumulative decline in per capita output of 20% or more lasting at least four years. We find depressions are surprisingly common. We describe their incidence and...

After a decade of research on the relationship between institutions and growth, there is no consensus about the exact way in which these two variables interact. In this paper we re-examine the role that institutions play in the growth process using data for developed and developing economies...

This paper investigates the role of institutions in determining per capita income levels and growth. It contributes to the empirical literature by using different variables as proxies for institutions and by developing a deeper analysis of the issues arising from the use of weak and too many...

This paper estimates the effect of institutions on economic growth in Sub-Saharan Africa over the period 1995-2007. We follow Henderson, Storeygard, and Weil (American Economic Review 102(2): 994-1028, 2012) in combining Penn World Tables GDP data with satellite-based data on nightlights in...

We investigate the effects of political institutions on economic growth. We specifically explore this relationship while controlling for heterogeneity and model uncertainty. We use threshold regression (Hansen (2000)) to search for possible nonlinearities and/or interaction effects with respect...

The paper examines the importance of relative prices, institutional quality and other factors which are regressed on the estimated total factor productivity (TFP). With panel data of 26 African countries for the period 1980-2011, the results show that relative prices have significant effects on...