Do institutions matter in the very long-run?-New evidence from OECD countries

被引：0
|
作者：
Roethel, Tim [1 ,2 ]
Leschke, Martin [1 ]
机构：
[1] Univ Bayreuth, Univ Str 30, Bayreuth, Germany
[2] Univ Bayreuth, Univ Str 30, D-95440 Bayreuth, Germany
来源：
APPLIED ECONOMICS LETTERS | 2023年
关键词：
Institutions; growth; PMG estimator; OECD; GROWTH;
D O I：
10.1080/13504851.2023.2211333
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Institutions are an important determinant of long-run economic growth. However, most studies only examine this relationship over a relatively short period and do not regularly include institutional variables in growth models. This article applies the pooled mean group (PMG) estimator to a panel of 18 OECD countries over 138 years. We find evidence that institutions matter for economic growth in the very long-run and conclude that economists should include them in any empirical application of the neoclassical growth model. Our result is robust to various robustness checks.
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页数：5
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