We apply System GMM and Panel Vector Autoregression (PVAR) to investigate the long run relationships between output, human capital, liberalized political institutions, and liberalized economic institutions. We find consistent evidence that economic institutions and human capital both greatly...

There is an extensive literature on the presence of valuable natural resources creating a competition for control of central states and resource rents. This mechanism has been argued to be an important underlying factor preventing certain countries from acquiring good institutions and achieving...