Authors:

  • Robert Barro

Excerpt

Democracy, Law and Order, and Economic Growth. Robert Barro, 2013, Book Chapter. "Economic performance depends on various aspects of government policy, but no aspect is more important than the quality of political, legal, and economic institutions. Differences in institutions have proven empirically to be among the most important determinants of cross-country differences in rates of economic growth. Consequently, basic reforms that improve institutions provide one of the surest routes for transforming a country in the long run from poverty to prosperity. This view, which underlies a good deal of recent empirical research..." Link verified August 21, 2014