We study the effects of institutional instability on growth. Using principal components
analysis, we construct measures of institutional quality and instability from the political risk …

This paper develops a formal model to investigate the relationship between institutional
quality–the current set of property rights–and institutional flexibility–the ability to develop …

This paper attempts to empirically investigate the link between institutional quality and
economic performance in a group of 72 countries during 1980–2001, using dynamic panel …

While it is now well established in the literature that countries with better policies and
institutions, as measured by the Economic Freedom of the World index, have better …

We argue that political instability is a good indicator of disturbances in development.
Moreover we argue that the causality between the political instability and the economic …

Differences in the quality of institutions may explain differences in per capita income. Yet, we
know relatively little on how institutions evolve. This paper contributes to such knowledge by …

Francis Fukuyama argues that liberal democracy is the final form of human government and
will become more and more prevalent in the long term. If this prediction is true, countries …

The purpose of this paper is to go beyond the narrow focus of the current institutional
economics literature in development on the institutions protecting individual property rights …

This paper examines the effect of 'quality'of the institutional framework on economic
development. Our empirical results support the hypothesis that 'good'institutions improve …

Institutions, as the implicit and explicit rules by which the members of a society interact,
shape the economic behavior of agents and help explain the economic performance of …