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ResearchPaper
2009
The impact of formal and informal institutions on per capita income
The impact of formal and informal institutions on per capita income
Abstract (English)
Despite the many approaches of neoclassical and endogenous growth theory, economists still face problems explaining the reasons for income differences between countries. Institutional economics and the deep determinants of growth literature try to depart from pure economic facts to examine economic development. Therefore, this article analyses the impact of institutions, geography and integration on per capita income. Concerning theoretical reasoning, emphasis is on the emergence of institutions and their effect on economic growth. However, institutions can appear in different shapes since political, legal and economic restrictions are not the only constraints on human behaviour. Norms and values also limit possible actions. Therefore, a differentiation between formal and informal institutions is made. The regression results affirm a crucial role of informal and formal institutionsconcerning economic development.
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Notes
Publication license
Publication series
Hohenheimer Diskussionsbeiträge; 319
Published in
Faculty
Faculty of Business, Economics and Social Sciences
Institute
Institut für Volkswirtschaftslehre (bis 2010)
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ISSN
ISBN
Language
English
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Classification (DDC)
330 Economics
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Free keywords
Standardized keywords (GND)
Sustainable Development Goals
BibTeX
@techreport{Dobler2009,
url = {https://hohpublica.uni-hohenheim.de/handle/123456789/5301},
author = {Dobler, Constanze},
title = {The impact of formal and informal institutions on per capita income},
year = {2009},
school = {Universität Hohenheim},
series = {Hohenheimer Diskussionsbeiträge},
}