Posted on November 23, 2008 |
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Economists have done numerous studies trying to relate the institutions of a country to economic growth there. This has been used to argue that institutional quality of a country matters for its growth. Is a country the relevant unit of analysis? Sociologist Immanuel Wallerstein argues that the world should be taken as one system. Interestingly a spate of recent works by mainstream economists begs us to take this approach seriously. Colonial impact on institutional set up A series of recent works in institutional economics have looked at the colonial impact on institutional formation. Based on a dataset of mortality of...
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