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In Search of the Holy Grail: Policy Convergence, Experimentation and Economic Performance

Mukand, Sharun W.; Rodrik, Dani - C.E.P.R. Discussion Papers - 2002

We consider a model of policy choice in which appropriate policies depend on a country’s own circumstances, but the presence of a successful leader generates an informational externality and results in too little ‘policy experimentation’. Corrupt governments are reined in while honest...

Persistent link: https://www.econbiz.de/10005136734

Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development

Rodrik, Dani; Subramanian, Arvind; Trebbi, Francesco - C.E.P.R. Discussion Papers - 2002

We estimate the respective contributions of institutions, geography, and trade in determining income levels around the … world, using recently developed instruments for institutions and trade. Our results indicate that the quality of … institutions 'trumps' everything else. Once institutions are controlled for, measures of geography have at best weak direct effects …

Persistent link: https://www.econbiz.de/10005667122

Industrial Policy for the Twenty-First Century

Rodrik, Dani - C.E.P.R. Discussion Papers - 2004

Unlike what is commonly believed, the last two decades have not witnessed the twilight of industrial policy. Instead, incentives and subsidies have been refocused on exports and direct foreign investment, in the belief that these activities are the source of significant positive spillovers. The...

Persistent link: https://www.econbiz.de/10005124119