search query: @indexterm HETEROSCEDASTICITY / total: 30
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| Author: | Rigobon, R. Rodrik, D. |
| Title: | Rule of law, democracy, openness, and income |
| Journal: | Economics of transition
2005 : VOL. 13:3, p. 533-564 |
| Index terms: | heteroscedasticity geography growth institutions |
| Language: | eng |
| Abstract: | The authors estimate the relationships among economic institutions, political institutions, openness and income levels, using identification through heteroscedasticity (IH). It is shown that democracy and the rule of law are both good for economic performance, but the latter has a much stronger impact on incomes. Openness (trade/GDP) has a negative impact on income levels and democracy, but a positive effect on rule of law. Higher income produces greater openness and better institutions, although the effects are not very strong. |
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