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States and Markets: The Advantage of an Early Start

In this paper, an index of the depth of experience with state-level institutions, or state antiquity, is derived for a large set of countries. We show that state antiquity is significantly correlated with measures of political stability and institutional quality, with income per capita, and with the... Full description

Journal Title: Journal of economic growth (Boston Mass.), 2002-12-01, Vol.7 (4), p.347-369
Main Author: Chanda, Areendam
Other Authors: Putterman, Louis
Format: Electronic Article Electronic Article
Language: English
Subjects:
Publisher: Boston: Kluwer Academic Publishers
ID: ISSN: 1381-4338
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recordid: cdi_proquest_miscellaneous_38402760
title: States and Markets: The Advantage of an Early Start
format: Article
creator:
  • Chanda, Areendam
  • Putterman, Louis
subjects:
  • 20th century
  • Analysis
  • Capital stock
  • Correlations
  • Countries
  • Economic development
  • Economic growth
  • Economic growth rate
  • Economic systems
  • Economics
  • Gross domestic product
  • Human capital
  • Income level
  • Infrastructure
  • Market
  • Population density
  • Population growth
  • Population growth rate
  • Social capital
  • State
  • United States
ispartof: Journal of economic growth (Boston, Mass.), 2002-12-01, Vol.7 (4), p.347-369
description: In this paper, an index of the depth of experience with state-level institutions, or state antiquity, is derived for a large set of countries. We show that state antiquity is significantly correlated with measures of political stability and institutional quality, with income per capita, and with the rate of economic growth between 1960 and 1995. State antiquity contributes significantly to the explanation of differences in growth rates, explaining half of the differences in growth rates between countries like China and Mauritania, which are located at the two ends of the spectrum. It is also a good instrument for "social infrastructure," which explains cross-country differences in worker productivity.
language: eng
source:
identifier: ISSN: 1381-4338
fulltext: no_fulltext
issn:
  • 1381-4338
  • 1573-7020
url: Link


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descriptionIn this paper, an index of the depth of experience with state-level institutions, or state antiquity, is derived for a large set of countries. We show that state antiquity is significantly correlated with measures of political stability and institutional quality, with income per capita, and with the rate of economic growth between 1960 and 1995. State antiquity contributes significantly to the explanation of differences in growth rates, explaining half of the differences in growth rates between countries like China and Mauritania, which are located at the two ends of the spectrum. It is also a good instrument for "social infrastructure," which explains cross-country differences in worker productivity.
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subject20th century ; Analysis ; Capital stock ; Correlations ; Countries ; Economic development ; Economic growth ; Economic growth rate ; Economic systems ; Economics ; Gross domestic product ; Human capital ; Income level ; Infrastructure ; Market ; Population density ; Population growth ; Population growth rate ; Social capital ; State ; United States
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abstractIn this paper, an index of the depth of experience with state-level institutions, or state antiquity, is derived for a large set of countries. We show that state antiquity is significantly correlated with measures of political stability and institutional quality, with income per capita, and with the rate of economic growth between 1960 and 1995. State antiquity contributes significantly to the explanation of differences in growth rates, explaining half of the differences in growth rates between countries like China and Mauritania, which are located at the two ends of the spectrum. It is also a good instrument for "social infrastructure," which explains cross-country differences in worker productivity.
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