Two Views on Institutions and Development: The Grand Transition vs the Primacy of Institutions
نویسندگان
چکیده
The Grand Transition (GT) view claims that many institutional changes can be understood astransitions occurring at roughly the same level (zone) of development. The Primacy ofInstitutions (PoI) view claims that economic development is a consequence of an exogenousselection of institutions. Our survey of the empirical evidence and our own estimates revealthat it is easy to find convincing evidence supporting either of the two views. We concludethat the empirical results are far too mixed to allow for a robust assessment that one of the twoviews is true and the other false. JEL classification number: O1, B25
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تاریخ انتشار 2007