Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/3965
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dc.contributor.authorPaldam, Martinen_US
dc.contributor.authorGundlach, Erichen_US
dc.date.accessioned2009-01-28T14:26:22Z-
dc.date.available2009-01-28T14:26:22Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/3965-
dc.description.abstractThe Grand Transition (GT) view claims that economic development is causal to institutional development, and that many institutional changes can be understood as transitions occurring at roughly the same level (zones) of development. The Primacy of Institutions (PoI) view claims that economic development is a consequence of an exogenous selection of institutions. Our survey of the empirical evidence and our own estimates reveal that it is easy to find convincing evidence supporting either of the two views. Property rights do affect development as suggested by the PoI. However, democracy is mainly an effect of development as suggested by the GT. We conclude that the empirical results are far too mixed to allow for a robust assessment that one of the two views is true and the other false. This finding implies that focusing on institutional development is unlikely to be successful as the key strategy for the economic development of poor countries.-
dc.language.isoengen_US
dc.publisher|aUniversity of Aarhus, School of Economics and Management |cAarhus-
dc.relation.ispartofseries|aWorking paper, University of Aarhus, School of Economics and Management |x2007,02-
dc.subject.jelB25-
dc.subject.jelO1-
dc.subject.ddc330-
dc.subject.keywordGrand transition
dc.subject.keywordprimacy of institutions
dc.subject.keyworddemocracy
dc.subject.keywordcorruption
dc.subject.keyworddevelopment
dc.subject.stwEntwicklungen_US
dc.subject.stwInstitutionalismusen_US
dc.subject.stwEigentumsrechten_US
dc.subject.stwDemokratieen_US
dc.subject.stwSchätzungen_US
dc.subject.stwWelten_US
dc.subject.stwEntwicklungsländeren_US
dc.titleTwo views on institutions and development: the grand transition vs the primacy of institutionsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn52538538Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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