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dc.contributor.authorCavallo, Alberto F.en_US
dc.contributor.authorCavallo, Eduardo A.en_US
dc.date.accessioned2010-02-23en_US
dc.date.accessioned2011-11-18T11:48:43Z-
dc.date.available2011-11-18T11:48:43Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/51520-
dc.description.abstractThis paper provides empirical evidence for the importance of institutions in determining the outcome of crises on long-term growth. Once unobserved country-specific effects and other sources of endogeneity are accounted for, political institutions affect growth through their interaction with crises. The results suggest that only countries with strong democracies, high levels of political competition and external constraints on government can potentially benefit from crises and use them as opportunities to enhance long-term output per capita and productivity growth.en_US
dc.language.isoengen_US
dc.publisherInter-American Development Bank, Research Dep. Washington, DCen_US
dc.relation.ispartofseriesWorking paper // Inter-American Development Bank, Research Department 643en_US
dc.subject.jelO40en_US
dc.subject.jelO43en_US
dc.subject.jelF43en_US
dc.subject.ddc330en_US
dc.subject.keywordfinancial crisesen_US
dc.subject.keyworddemocracyen_US
dc.subject.keywordpolitical institutionsen_US
dc.subject.keywordeconomic growthen_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwDemokratieen_US
dc.subject.stwInstitutionalismusen_US
dc.subject.stwWirtschaftswachstumen_US
dc.subject.stwWelten_US
dc.titleAre crises good for long-term growth? The role of political institutionsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn586084444en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Research Department Working Papers, Inter-American Development Bank

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