Do Institutions Cause Growth Harvard University事业单位事业成长哈佛大学.pptVIP

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2017-02-13 发布于上海
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Do Institutions Cause Growth Harvard University事业单位事业成长哈佛大学.ppt

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Do Institutions Cause Growth? Edward Glaeser, Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer Context of Paper Recent literature: good institutions are important necessary conditions for growth This paper brings us back to human capital and questions some basic assumptions made in such literature Policies, a choice or consequence? 2 ways of thinking about growth and its relation to institutions/democracy 1) Democracy as a necessary condition to growth Democracy secures property rights More investments in capital, human capital, etc. Economic growth!! 2) Democracy as a result of growth Capital and human capital increase (through policies, not institutions) even dictators can secure property rights by choice ? More negotiation/voting and less violence to resolve conflicts because of education Education is necessary for courts to operate, public engagement in politics ? Eventually democracy because increased education and wealth Case study: N. Korea vs. S. Korea Order of presentation Critique of measures of “institutions” Discuss OLS evidence on relationship between institutions, human capital, and growth. Examine universe of poor countries in 1960 to find education level and institutional environment Discuss AJR and their instruments Revisit human capital accumulation vs. institutional quality by looking at timing Conclusion II. Measurement of Institutions Institutions: “a set of rules, compliance procedures, and moral and ethical behavioral norms designed to constrain the behavior of individuals in the interests of maximizing the wealth or utility of principals.” (North, 1981) Need permanent/durable constraints Are measures of institutions used in recent literature valid measures with this definition in mind? Measures of Institutions International Country Risk Guide Kaufmann et al. (2003) Polity IV dataset Measures of outcomes and not of permanent constraints First two measures: dictators choosing “good” policies = governments who must Uncorre