Causality and Feedback Between Institutional Measures and Economic Growth

Chong, Alberto; Calderón, César

doi:10.1111/1468-0343.00069

Cited by 298 publications

(192 citation statements)

References 10 publications

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“…These findings are consistent with those reported by Chong and Calderón (2000a), who also used the ICRG's corruption and bureaucratic quality variables. They reported that corruption had no impact on growth, while bureaucratic quality was significant only at the 10% level.…”

Section: Empirical Results: Growthsupporting

confidence: 91%

A True Test: Do Imf Programs Hurt the Poor

Joyce

Hajro

2004

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in A TRUE TEST: DO IMF PROGRAMS HURT THE POOR?"Where a great proportion of the people are suffered to languish in helpless misery, that country must be ill policed, and wretchedly governed; a decent provision for the poor is the true test of civilization." --Samuel Johnson, 1791"…once a country was in crisis, IMF funds and programs not only failed to stabilize the situation but in many cases actually made things worse, especially for the poor. The next section provides a description of the IMF's lending arrangements and a review of the literature on the IMF's programs and poverty. This is followed by an explanation of the methodology and data used in the analysis. Section 4 presents the results of the empirical analysis for poverty, while Section 5 deals with the results for growth. The last section summarizes our conclusions and provides some implications for future policies and research.2.

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Section: Empirical Results: Growthsupporting

confidence: 91%

A True Test: Do Imf Programs Hurt the Poor

Joyce

Hajro

2004

SSRN Journal

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“…Environments, in which economic returns can be easily secured through formal institutions, foster the cooperation of economic agents. Studies have demonstrated a strong link between institutional environment (measured through corruption, bureaucratic quality, property rights and other institutional variables, or what in social capital literature is considered as government social capital) and economic growth [9][10][11]. Government can secure property rights and enforce contracts by formal institutions, but "rules on the book" might be very different from what actually takes place in a country [12].…”

Section: Introductionmentioning

confidence: 99%

The Relation between Social Capital, Governance and Economic Performance in Europe

Jankauskas

Šeputienė

2007

Business: Theory and Practice

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Abstract. The literature on social capital stresses the relations between social capital (trust, social norms and networks), government effectiveness and economic performance. In empirical investigations the relationship between aforementioned items was clarified by using various indicators of social capital and different country samples. Due to this reason the results are hardly comparable. In this article we aim to examine the strength of the relationship between social capital, governance quality and economic performance by using the same indicators of social capital and the same country sample (23 European countries). The study has indicated that both social capital and government indicators are related to economic performance and to each other. Results showed the positive correlation of two social capital dimensions, namely trust and networks, with economic performance indicators and governance indicators, while civism dimensions do not correlate either with economic performance or with governance indicators. In this paper we used three economic performance indicators, namely GDP per capita in Purchasing Power Standards, labour productivity per person employed and percentage of gross domestic expenditure on R&D (GERD) financed by industry.

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“…9 In particular, we use the ratio of public consumption to GDP, the ratio of fiscal deficits to GDP, population (in logs), share of urban population, civil liberties, political rights, rule of law, corruption by the government, standard deviation of inflation, inflation rate, age dependency ratio, growth in GDP per capita, PPP GDP deviations, PPP Investment deviations, regional dummies, ratio of Exports to GDP, and degree of openness. 10 Among others, Chong and Calderón (2000) provide an application of the method.…”

Section: Discussionmentioning

confidence: 99%

Structure and Development of Financial Institutions and Links with Trust: Cross-Country Evidence

2001

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The views and interpretations in this document are those of the authors and should not be attributed to the Inter-American Development Bank, or to any individual acting on its behalf. Terms of use: Documents inThe Research Department (RES) produces the Latin American Economic Policies Newsletter, as well as working papers and books, on diverse economic issues.To obtain a complete list of RES publications and read or download them please visit our web site at: http://www.iadb.org/res/32.htm 3 Abstract * We explore the links between trust and a broad range of financial structure and development measures. Our base sample is a cross section of 48 countries and the analysis covers the period 1980-1994. We use a new World Bank data set that provides the most comprehensive coverage of financial development and structure to this date. We find that trust is correlated with financial depth and efficiency as well as with stock market development. Results hold when using an instrumental variable approach, and they are robust to changes in specification when using a formal Sala-i-Martín sensitivity analysis.Word Count: 5872 JEL Classification: O1, O10

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Causality and Feedback Between Institutional Measures and Economic Growth

Cited by 298 publications

References 10 publications

A True Test: Do Imf Programs Hurt the Poor

A True Test: Do Imf Programs Hurt the Poor

The Relation between Social Capital, Governance and Economic Performance in Europe

Structure and Development of Financial Institutions and Links with Trust: Cross-Country Evidence

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