Some Historical, Theoretical, and Methodological Issues in Identifying E¤ects of Political Institutions
نویسنده
چکیده
Recent research on the impact of institutions su¤ers from historical, theoretical, and methodological problems. The historical issue is whether the initially poorer countries became wealthier, as Acemoglou, Johnson, and Robinson (2002) would have us believe. The theoretical question is whether the institutions that should matter are those that protect property rights or those that coordindate investment or render rulers accountable. Finally, methodological issues include the de...nition of the dependent variable, the identifying assumption that institutions did not change, and the pitfalls of instrumental variables.
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