UNU-MERIT Working Papers Series
Institutions and economic growth: Summary and synthesis
Adam Szirmai #2013-070This paper provides a review and synthesis of the findings of the second
phase of a research project on institutions and long-run economic
performance. It discusses research findings in five areas, namely (1)
the relationship between institutional characteristics and the duration
of economic slumps; (2) the relative importance for growth of
institutions, trade openness and geography; (3) the determinants and
consequences of state capacities; (4) the interactions between
institutions, foreign direct investment and domestic investment; and (5)
the relative contributions of growth and inequality to poverty
reduction. The paper concludes with recommendations for future research
in the field of institutions and economic development.
Keywords: Institutions, Economic Growth, State Capacity, FDI, Poverty
JEL Classification: E02, O43, B52, O10
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