Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/266694 
Authors: 
Year of Publication: 
2022
Series/Report no.: 
CIW Discussion Paper No. 2/2022
Publisher: 
Westfälische Wilhelms-Universität Münster, Centrum für Interdisziplinäre Wirtschaftsforschung (CIW), Münster
Abstract: 
Theoretical and empirical evidence on the relationship between institutions and economic prosperity remains ambiguous, even though it has been part of scholarly discourse for decades. The present study adds to this discussion by introducing a bundled approach for measuring institutions. This approach takes into account interrelations in form of hierarchies between political, economic and the societal institutions and thereby adds to the literature that deals with the mechanisms of economic growth from an institutional perspective. Based on a panel of 153 countries from 1995 to 2016, we find that political institutions establish a deeprooted framework in which societal institutions, such as education and health care, act as main drivers of growth processes.
Subjects: 
Institutional Hierarchy
Economic Growth
Bundled Measurement
JEL: 
H00
O11
O43
P51
Document Type: 
Working Paper

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