Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/93545
Authors: 
de Dios, Emmanuel S.
Ducanes, Geoffrey M.
Year of Publication: 
2011
Series/Report no.: 
Discussion Paper, School of Economics, University of the Philippines 2011-07
Abstract: 
We investigate the extent to which the investment slowdown in many Asian countries since the Asian Financial Crisis is attributable to changes in governance institutions. In the process we test the more general hypothesis that different aspects of governance will become relevant constraints to investment and growth at differing levels of countries' development. This hypothesis is validated and explains a standing paradox that finds certain governance aspects - notably voice and accountability and control of corruption - do not apparently figure as explanations in the average growth record. We show that in fact they do, though only at certain levels of development.
Document Type: 
Working Paper

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