Publication: Colonisation, formal and informal institutions, and development
Loading...
Official URL
Full text at PDC
Publication Date
2009
Advisors (or tutors)
Editors
Journal Title
Journal ISSN
Volume Title
Publisher
Instituto Complutense de Estudios Internacionales
Citations
Exportar
Abstract
This article analyses current attempts to identify the factors underlying long-term economic growth. The author criticises some the arguments and historical proofs in which are based the two main explanations which dominate recent literature: the institutional approach and those which focus on the importance of geographical factors. Using an approach which is deliberately eclectic, the author considers the role of geography, international trade, human capital and institutional quality in explaining development. A new estimation is carried out through TLSL with instrumental variables. The results of the empirical model confirm the central role of institutions in long-term economic growth. However, certain geographical conditions also seem to have influenced countries´ possibilities of progress. Human capital and trade openness are less robust in explaining economic growth.
El trabajo discute los intentos más recientes de identificar los factores subyacentes al crecimiento económico de largo plazo. El autor critica algunos de los argumentos y las pruebas históricas en que se basan las dos explicaciones que dominan la literatura reciente: el enfoque institucional y las que se centran en la importancia de los factores geográficos. Utilizando un enfoque deliberadamente ecléctico, el autor considera el papel de la geografía, el comercio internacional, el capital humano y la calidad institucional en la explicación del desarrollo. Se lleva a cabo una nueva estimación a través de mínimos cuadrados en dos etapas (TLSL), con variables instrumentales. Los resultados del modelo empírico confirman el papel central que las instituciones tienen en el crecimiento económico de largo plazo. Sin embargo, ciertas condiciones geográficas también parecen haber influido en las posibilidades de progreso de los países. El capital humano y la apertura comercial son menos robustos en la explicación del crecimiento económico.
El trabajo discute los intentos más recientes de identificar los factores subyacentes al crecimiento económico de largo plazo. El autor critica algunos de los argumentos y las pruebas históricas en que se basan las dos explicaciones que dominan la literatura reciente: el enfoque institucional y las que se centran en la importancia de los factores geográficos. Utilizando un enfoque deliberadamente ecléctico, el autor considera el papel de la geografía, el comercio internacional, el capital humano y la calidad institucional en la explicación del desarrollo. Se lleva a cabo una nueva estimación a través de mínimos cuadrados en dos etapas (TLSL), con variables instrumentales. Los resultados del modelo empírico confirman el papel central que las instituciones tienen en el crecimiento económico de largo plazo. Sin embargo, ciertas condiciones geográficas también parecen haber influido en las posibilidades de progreso de los países. El capital humano y la apertura comercial son menos robustos en la explicación del crecimiento económico.
Description
UCM subjects
Keywords
Citation
Acemoglu, D., M.A. Bautista, P. Queribín and J. A. Robinson (2008): “Economic and Political Inequality in Development: The Case of Cundimarca, Colombia”, in E. Helpman (ed), Institutions and Economic Performance, Cambridge Mass, Harvard University Press.
Acemoglu, D. and S. Johnson (2003): “Unbundling institutions”, Cambridge Mass. NBER Working Paper N 9934, National Bureau of Economic Research.
Acemoglu, D. and J. Robinson (2002): “Economic Backwardness en Political Perspectives”, Cambridge Mass., NBER Working Paper, No. 8831, National Bureau of Economic Research.
Acemoglu, D., S. Johnson and J.A. Robinson (2001): “The colonial origins of comparative development: An emirical investigation”, American Economic Review, vol 91, N. 5 (December), pp. 1369-401.
Acemoglu, D., S. Johnson and J.A. Robinson (2002): “Reversal of fortunes: Geography and institutions in the making of the modern world income distribution”, Quarterly Journal of Economics, vol 117, N. 4 (November), pp. 1231-94.
Acemoglu, D., S. Johnson, and J. Robinson (2005): “The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth”, American Economic Review, vol 95, n 3: 546-579.
Acemoglu, D., S. Johnson and J.A. Robinson (2006)”: Understanding prosperity and poverty: geography, institutions, and the reversal of the fortune”, in A. Banerjee, R. Bénabou and D. Mookherjee (eds.), Understanding Poverty, , New York, Oxford University Press.
Alesina, A., A.. Devleeschauwer, W. Easterly and S. Kurlat (2003): “Fractionalization”, Journal of Economic Growth, vol. 8, No. 2, pp. 155-94.
Alesina, A. and R. Perotti (1996): “Income distribution, political instability and investment”, European Economic Review, vol. 40, N. 6, pp. 1203-1228.
Alesina, A. and D. Rodrik (1993): “Income distribution and economic growth: A simple theory and some empirical evidence”, in Alex Cukierman, Zvi Hercovitz y Leonardo Leiderman (eds.), The political economy of business cycles and growth, Cambridge Mass, MIT Press.
Alonso J. A. (2007) “Desigualdad, instituciones y progreso: un debate entre la historia y el presente”. Revista de la CEPAL nº 93. pp. 53-84.
Alonso, J. A. and C. Garcimartín (2008): Acción colectiva y desarrollo. El papel de las instituciones. Madrid, Editorial Complutense.
Anderson, S. and P. Fracois (2008): “Formalizing Informal Institutions: Theory and Evidence from Kenyan Slum”, in E. Helpman (ed), Institutions and Economic Performance, Cambridge Mass, Harvard University Press.
Angeles L. (2007): “Income inequality and colonialism”, European Economic Review, 51, 1155-1176 Arndt, C. and C. Oman (2006): Uses and Abuses of Governance Indicators. OECD. Paris.
Arnott, R. and J. Stiglitz (1991): “Moral Hazard and Non-market Institutions: Dysfunctional Crowding Out of Peer Monitoring”, American Economic Review, vol 81, n 1: 179-90.
Aron, J. (2000): “Growth and Institutions: A Review of the Evidence”, The World Bank Research observer 15 (1). 1203-1228
Austin, G. (2008): “The “Reversal of Fortune” Thesis and the Compression of History: Perspectives from African and Comparative Economic History”, Journal of International Development, 20: 996-1027.
Bardhan, P. (2005): Scarcity, Conflict, and Cooperation in E. Helpman (ed), Institutions and Economic Performance,
Cambridge Mass, Harvard University Press.: Essays in the Political and Institutional Economics of Development, Cambridge, Cambridge University Press.
Barro, R. J. and J. W. Lee (2000): “International Data on Educational Attainment: Updates and Implications". CID Working Paper No. 42, Abril.
Baum, C.F, M. Schaffer and S. Stillman (2003): “Instrumental Variables and GMM: Estimation and Testing”, Stata Journal, vol 3, n1: 1-31.
Bértola, L. (2005): “A 50 años de la curva de Kuznets: crecimiento económico y distribución del ingreso en Uruguay y otras economías de nuevo asentamiento desde 1870,” Investigaciones de historia económica, No. 3, Madrid, Asociación Española de Historia Económica.
Bértola, L., C. Castelnovo, J. Rodríguez and H. Willebald (2008): “Income Distribution in the Latin American Southern Cone During the First Globalization Boom and Beyond”, paper for the project “A Global History of Inequality in the Long 20 Century” directed by L. Bértola.
Bound, J., D.A. Jaeger, and R.M. Baker (1995): “Problems with Instrumental Variables Estimation whwn the Correlation Between the Instruments and the Endogenous Explanatory Variable is Weak”, Journal of the American Statistical Association, 90: 443-450.
Bulmer-Thomas, V. (1994): The Economic History of Latin America since Independence, Cambridge, Cambridge University Press
Carmagnani, M. (2004): El otro Occidente. América Latina desde la invasión europea hasta la globalización, Mexico, Fondo de Cultura Económica/Colegio de México.
Coatsworth, J.H. (1993): “Notes on the Comparative Economic History of Latin America and the United States”, in W.L. Bernecker and H.W. Tobler (eds), Development and Underdevelopment in America: Contrasts in Economic Growth in North America and Latin America in Historical Perspective, Berlin, Walter de Gruyter.
Coatsworth, J.H. (2005): “Structures, endowments, and institutions in the economic history of Latin America”, Latin American Research Review, vol. 40, No. 3, Austin, Texas, University of Texas Press.
Coatsworth, J.H. (2007): “Inequalitiy, Institutions, and Economic Growth in Latin America”, Fundacion Ramón Areces, mimeo.
Coatsworth, J.H. and A.M Taylor (1998): Latin America and the World Economy since 1800, Cambridge Mass., Harvard University Press.
Diamond, J. (1998): Guns, Germs and Steel: the Fates of Human Societies, Nueva York, W.W. Norton.
Diamond, J (2005): Collapse, Nueva York, Penguin Group.
Dietsche, E. (2007): The quality of institutions: a cure for the ‘resource curse’? Working Paper, Oxford Policy Institute, July.
Dobado, R. (2007): “Herencia colonial y desarrollo económico en Iberoamérica”, mimeo, Fundación Areces Easterly, W. (2001): “The Middle Class Consensus and Economic Development”, Journal of Economic Growth, vol. 6 (4), pp. 317-335.
Easterly, W. and R. Levine (1997): “Africa’s Growth Tragedy: Policies and Ethnic Divisions”, Quarterly Journal of Economics, vol. 112 (4), pp. 1203-50.
Easterly, W. and R. Levine (2003): “Tropics, germs, and crops: how endowment influence economic development”, Journal of Monetary Economics, 50 (1): 3-39.
Easterly, W., J. Ritzan and M. Woolcock (2006): “Social Cohesion, Institutions, and Growth”, Economics and Politics, 18(2), 103-120.
Elliot, J.H. (2006): Imperios del mundo atlántico. España y Gran Bretaña en América (1492-1830), Madrid, Santillana Ediciones.
Engerman, S. L. and K. L. Sokoloff (1997): “Factor endowments: institutions and differential paths of growth among new world economies. A view from economic historians of the United States,” en S. Haber, How Latin America Fell Behind: Essays on the Economic Histories of Brazil and Mexico, 1800-1914, Stanford, Stanford University Press.
Engerman, S.K. and K.L. Sokolof (2002): “Factor Endowments, Inequality, and Paths of Development Among the New World Economies”, NBER Working Paper, No. 9259, Cambridge Mass., National Bureau of Economic Research.
Engerman, S.K. and K.L. Sokolof (2005): “Colonialism, Inequality, and Long-run Paths of Development”, NBER Working Paper, No. 11057, Cambridge Mass., National Bureau of Economic Research.
Engerman, S.K. and K.L. Sokolof (2006): “Colonialism, inequality, and long-run paths of development”, en A.V. Banerjee, R. Bénabou and D. Mookherjee (eds.), Understanding Poverty, Oxford, Oxford University Press.
Evans, P. and Rauch, P. (2000): “Bureaucratic Structure and Bureaucratic Performance in Less Developed Countries”. Journal of Public Economics 75, 49–71.
Fagan, B. (2008): The Great Warming, Basic Books, Gallup, J.L., J. Sachs and A. Mellinger (1999): Geography and Economic Development, International Regional Science Review 22 (2), pp. 179-232.
Garcimartín, C., J. A. Alonso and D. Gallo (2006): “Fiscalidad y Desarrollo”. Documentos del Instituto de Estudios Fiscales, No. 21/06.
Gelman, J. (2007) “¿Crisis postcolonial en la economías sudamericanas?. Los casos del Río de la Plata y Perú”, Fundación Ramón Areces, mimeo.
Glaeser, E.L., R. La Porta, F. López-de-Silanes and A. Shleifer (2004): “Do Institutions cause Growth?”, Journal of Economic Growth, vol 9, n 3, pp 271-303.
Glaeser, E. L. and R. Sacks (2006): “Corruption in America,” Journal of Public Economics 90(6-7), pp. 1053-1072.
Glaeser, E. and A. Shleifer (2003): “The rise of the regulatory state”, Journal of Economic Literature, 41, pp. 401-425.
Greif (2006): Institutions and the Path to Modern Economy. Lessons from Medieval Trade, Cambridge, Cambridge University Press.
Greif, A., P. Milgrom and B. Weingast (1994): Coordination, commitment and enforcement: the case of the merchant guild, Journal of Political Economy, vol. 102.
Hall, R.E. and Ch. I. Jones (1999): “Why do Some Countries Produce so Much More Output per Worker Than Others?” Quarterly Journal of Economics, vol 114, pp. 83-116.
Harber, S. (1997): How Latin America Fell Behind: Essays on the Economic Histories of Brazil and Mexico, 1800-1914, Stanford, Stanford University Press.
Henisz, W. J. (2000): “The Institutional Environment for Economic Growth”, Economics and Politics, 12 (1), pp. 1-31.
Islam, R. and C. Montenegro (2002): “What Determines the Quality of Institutions?” background paper for the World Development Report: Building Institutions for Markets, Washington.
Kamen, H. (2003): La forja de España como potencia mundial, Madrid, Ed. Aguilar La Porta, R., F. López de Silanes, A. Shleifer y R. W. Vishny (1999): “The quality of government”, Journal of Law, Economics and Organization, vol 15 (March), pp. 222-79.
Lange, M., J. Mahoney and M. Vom Hau (2006): “Clonialism and Development: A Comparative Analysis of Spanish and British Colonies”, American Journal of Sociology, vol 111, n 5: 1412:1462.
Mahoney, J. (2003): “Long-Run Development and the Legacy of Colonialism ins Spanish America”, American Journal of Sociology, vol 109, n 1: 50-106.
Mann, Ch.C. (2006): 1491. Una nueva historia de las Américas antes de Colón, Bogotá, D.C., Taurus.
McArthur, J.W. and J. Sachs (2001): “Institutions and Geography: Comment on Acemoglu, Johnson and Robinson (2000)”, NBER Working Paper 8114, Cambridge Mass., National Bureau of Economic Research.
Milanovic, B., P.H. Lindert and J.G. Williamson (2007): “Measuring Ancient Inequality”, NBER Working Paper, N 13550, Cambridge Mass, National Bureau of Economic Research.
Mokyr, J. (2008): “The Institutional Origins of the Industrial Revolution”, in E. Helpman (ed), Institutions and Economic Performance, Cambridge Mass, Harvard University Press.
Moore, M. (1998) “Death without Taxes: Democracy, State Capacity, and Aid Dependency in the Fourth World”, en White G. y Robinson M. (eds.): Towards a Democratic Developmental State. Oxford, Oxford University Press.
North, D.C. (1993): “The new institutional economics and development”, WUSTL Economic Working Paper Archive.
North, D.C. (2005): Understanding the Process of Economic Change, Princeton, Princeton University Press.
North, D.C., W. Summerhill, and B.R. Weingast (2000): “Order, Disorder, and Economic Change: Latin America versus North America”, in B. Bueno de Mesquita and H. Root (eds), Governing for Prosperity, New Haven, Yale University Press.
Nunn, N. (2008): “Slavery, Inequality, and Economic Development in the Americas: An Examination of the Engerman-Sokoloff Hypothesis”, in E. Helpman (ed), Institutions and Economic Performance, Cambridge Mass, Harvard University Press.
Prados de la Escosura, L. (2005): Growth Inequality and Poverty in Latin America: Historical Evidence, Controlled Conjectures, Working Papers in Economic History, No. 54104, Madrid, Universidad Carlos III.
Pritchett, L. (1997): “Divergence, big time”, Journal of Economic Perspectives, vol. 11 N. 3, Nashville, Tennessee, American Economic Association.
Quian, Y (2003): “How reform worked in China”, en D. Rodrik (ed), In search of prosperity. Analytic narratives on economic growth, Princeton, Princeton University Press.
Rigobon, R. and D. Rodrik (2005): “Rule of Law, Democracy, Openness, and Income: Estimating the Interrelationships”, Economics of Transition, 13, pp. 553-564.
Rodrik, D., A. Subramanian and F. Trebbi (2002): “Institutions Rule: The Primacy of Institutions over Geography and Integration in Economic Development”, Journal of Economic Growth, 9(2), pp. 131-165.
Rodrik, D. (ed)(2003): In search of prosperity. Analytic narratives on economic growth, Princeton, Princeton University Press.
Ross, M. (1999): “The political Economy of the Resource Curse”, World Politics, vol 51, n 2, pp 297-322.
Sachs, J. (2001): “Tropical Underdevelopment”, NBER Working Paper Series, No. 8119, Cambridge, Massachusetts, National Bureau of Economic Research.
Sachs, J. and A. Warner. (1997): “Sources of Slow Growth in African Economies,” Journal of African Economies, Vol. 6, pp. 335-76.
Shea, J. (1997): “Instrument Relevance in Multivariate Linear Models: A Simple Measure”, Review of Economics and Statisics 79: 348-352.
Sokoloff, K. and S.L. Engerman (2000): “Institutions, factor endowments, and paths of development in the new world”, Journal of Economic Perspectives, vol. 14, No. 3, Nashville, Tennessee, American Economic Association.
Stiglitz, J. (1999): “Formal and informal institutions2, in P. Dasgupta and I. Serageldin (eds), Social Capital: A Multifaceted Perspective, Washington, World Ban Publications.
Stock, J.H. and M. Yogo (2001): “Testing for Weak Instruments in Linear IV Regression”, Department of Economics, Harvard University, mimeo.
Tavares, J. and R. Wacziarg (2001): “How democracy affects growth”, European Economic Review, vol 45, nº 8, pp 1341-1378.
Varsakelis, N. C. (2006): “Education, Political Insitutions and Innovative Activity: A Cross-country Empirical Investigation”, Research Policy, 35, 1083-1090.
Wei, S.J. (2000): “Natural Openness and Goog Government”, NBER Working Paper, 7765, Cambridge Mass, National Bureau of Economic Resarch.
Williamson, J. (1999): “Real wages, inequality and globalization in Latin America before 1940”, Revista de historia económica, vol. 17, Madrid, Fundación SEPI.