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180614 ||| eng |
| 020 |
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|a 9781513555508
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| 100 |
1 |
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|a Góes, Carlos
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| 245 |
0 |
0 |
|a Institutions and Growth
|b a GMM/IV Panel VAR Approach
|c Carlos Góes
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2015
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| 300 |
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|a 14 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Time-Series Models
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| 653 |
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|a Estimation
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| 653 |
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|a Estimation techniques
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| 653 |
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|a Personal Income, Wealth, and Their Distributions
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| 653 |
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|a State Space Models
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| 653 |
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|a Personal income
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Income
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| 653 |
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|a Econometrics
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| 653 |
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|a Dynamic Quantile Regressions
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| 653 |
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|a National accounts
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| 653 |
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|a Econometric analysis
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| 653 |
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|a Multiple or Simultaneous Equation Models: Models with Panel Data
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| 653 |
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|a Institutions and Growth
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| 653 |
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|a Econometrics & economic statistics
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| 653 |
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|a Diffusion Processes
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| 653 |
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|a Vector autoregression
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| 653 |
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|a Structural vector autoregression
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| 653 |
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|a Semiparametric and Nonparametric Methods
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| 653 |
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|a Econometric models
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| 653 |
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|a Dynamic Treatment Effect Models
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781513555508.001
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| 856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/2015/174/001.2015.issue-174-en.xml?cid=43128-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a Both sides of the institutions and growth debate have resorted largely to microeconometric techniques in testing hypotheses. In this paper, I build a panel structural vector autoregression (SVAR) model for a short panel of 119 countries over 10 years and find support for the institutions hypothesis. Controlling for individual fixed effects, I find that exogenous shocks to a proxy for institutional quality have a positive and statistically significant effect on GDP per capita. On average, a 1 percent shock in institutional quality leads to a peak 1.7 percent increase in GDP per capita after six years. Results are robust to using a different proxy for institutional quality. There are different dynamics for advanced economies and developing countries. This suggests diminishing returns to institutional quality improvements
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