Political versus Economic Institutions in the Growth Process Emmanuel Flachaire, Cecilia Garcı̀a-Peñalosa, Maty Konte To cite this version: Emmanuel Flachaire, Cecilia Garcı̀a-Peñalosa, Maty Konte. Political versus Economic Institutions in the Growth Process. 2011. <halshs-00586038> HAL Id: halshs-00586038 https://halshs.archives-ouvertes.fr/halshs-00586038 Submitted on 14 Apr 2011 HAL is a multi-disciplinary open access archive for the deposit and dissemination of scientific research documents, whether they are published or not. The documents may come from teaching and research institutions in France or abroad, or from public or private research centers. L’archive ouverte pluridisciplinaire HAL, est destinée au dépôt et à la diffusion de documents scientifiques de niveau recherche, publiés ou non, émanant des établissements d’enseignement et de recherche français ou étrangers, des laboratoires publics ou privés. 1 GREQAM Groupement de Recherche en Economie Quantitative d'Aix-Marseille - UMR-CNRS 6579 Ecole des Hautes études en Sciences Sociales Universités d'Aix-Marseille II et III Political versus Economic Institutions in the Growth Process Emmanuel Flachaire Cecilia García- Peñalosa Maty Konte April 2011 Document de Travail n°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δ " C " % " " "% $ ! 3 ! δ δ C& B C( * δ ! B % B )$ "H " ( " # C& ! $ % 8 : H # !# "# δ 6 " # " δ : ! # % $ $ # % # $ !% $ H ( 2 % % 0$ % " ! % % $ & ! ! &! ( + " & " " " !$ A ! " # # $ " % ' " " δ δ ε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p # ! H 1 " % %$ ) " ! "$ ! " "A N :M # ! " " % $ P ' B " 3 "O & " "$ "(7 . N N " # N ! " % " %% ! " % " ! *96 !$ ) @ C( * I A " $! 6 % $ &$ " C& $ ! ( 2 C& $ :M C& & " % ! " BF " % & ) &$ N & $ & " & % ' % $ ( $ B (- % & # " % $ % # ! ( 6 & " ( $& . ' # " 7 # : " *96 " 6 . ) % % ! % ( B % :C ! ' " % F & "$ ) A ! ! $ ( 7 ( " % " ( 6 # ( + ( 2 " " " ! *96 I " I F $ & % % " ( +! & " B C ! " # "A A % % C " " " # " A ! # δ "# " % I " $ " $ " ( # " ! " # : ! B " B C " :M & $ ' " A "B ' " " B CC( I ( N A # " " & A " *96 " & ! % ' # & ' " " %% %% ( + # % ' " A F % " $ ! . # % ' C& $ " $ % ' < . # % i " &$ ! ( I & $ p " " " ' " " % ' # & δ i& $ % " I ! ! C( . " "& " B' " A A "& ( & δ ,...,δ ( 2 " "& ! # " % $ # " ' "% & ) # "I ! 3 " # # B C &$ " *96 "( +< # /& ( 2 % ' # B. # $ & $ " ' " A I # % ( . . # : " # 8 " " < " ! " N ! $&$ ! . # B ,7-C( 2 $ +< ' % ! I % ' ! ( " " % " % ' " I . # % 1 &$ % " " "' " % "1 % " ' " A ) " & ! ! % ' ! $ " # )# $ " " % $ ( B ! ( , /C ! # " ( * # ( "# " ' ! % Q + ! % ! " " " " ( + $ ! & # % :C " "A $ % # " % ( " ) A ' ' " " " % % & " 3 ! &$ " ' ! % & &"A A % ( ' " % & ! % # ( . 1 y 1 y y " " # & x " " # " ( 6 ! $ # "A # " & β I ε , xβ ε , % $ $ % ! $ % ε "β " # % "# B C " ε " B C 3 # # ( " B C !$ " "" " σ & x" ' % $ ' " " & % % $ % " # " " ! σ & $ " ( 4 % % $1 " ε % " % # N ,σ , $ y# $ & N ,σ , # $ % " B C& " ! & % % & % $ % " ε " "δ $ ! " $ "A " δ ,δ ,δ ,δ ,δ ,δ # $ xβ " # "% " # % % % % % % $ ( + I ( . $ % $ " $ % " " " " ! "A " $ % ( * % $ " # $ "# " ( . $ # ( % % ( + * ! " ! % " % $ !( . " $ ! % $ ( . % " ! " % ( 8 /C " # !% $ B $ # % $ % ! $ &$ $ ( B "" % % & " % $ ) " " ! # ! $ % " # ' # " ' " # & I "A ' y ( F $ # ! & # !% " % & H ! # " % " x( & ! * " & % " # $ # " % % ( + % ! ' " # " % " " ( ! "" % ' % & " ( " # & # " @ # " % " % # "A $ # 1 ( . ! $ " ! " " & # # " " ( " ! # # # % ( % % " # $ K f y x, z, K $ % # # # αk & β k ! " ' ) $ " % ) " # K& ' % % " ! " "" % # & ,7,C( , " " ' " ! # B C " "# # % ( . 8 % ) ' ! & " " # &" B + & 8+ K ! + ! " 8+ 6 % ,-7& " ' " n % ) " "! ( + ) ) + ! 8+ $ " # "I "A @ % ". " " ( B ,--C( . " # 6 $ @ B ,-7C& "F K % % x( . fk " " !H $ # " fk y x β k , σ k " ! xβ k & ! ! # B C( ! "$ # E yx B0C # # "( +! $ 3 K ! ! " " z& # @ "# " σk $ & π k z, αk % # $1 π k z, αk fk y x β k , σ k , k ! k $ ! " 9 B/C "n " # B C " (, ! # " " B C( " "A $ " % A % ' $ " % ! & ( # % & $ ! ! % % $ " ! ! % $ & $ % # # ( 2 " " !$ H ! # # x # $ $ ! ( " % $ " # $ $ " " "$ $ " # I ) " (& % ' ( . & "A ! A % ( $ %! " " # % ! $ " # & "& % $ & & # " z( . " ! # ! % % $ * $ % % # # # ! # % " "A # " ' + # & " % % " "A ( "" & $ ! ( "A # # " # # # $ % $ ( ' 2 # % -0 " # " % # . $ "" " & " & # % &$ " % " # "R $! & $ # " !% $ $ $ ( . # J "A $ ! 8+ ' " " & 6 & "K U " 3 % C # " ! ! " X # ' " $ ( B % ) " ( . &$ *$ ! # ! " " !' XST" B + ( Z " " . " ( . ! # % $ $ ! "( + " " # $ # " ( 6 & ( ( K $ & " " ( 8 & # " "A ! ! & " $ 8+ # " *96 ( ! "" " + & " ,C( " # "" "# 8 ( B C( " " % " B. # /& K ! C& 8+ 8+ & 3 :-(/& % ( ! % " $ " " " $ " " . # 8+ ! 8+ & &$ # # &N & % $ " % ( . $ % " % $ # " ! I $ ( . " "% " ! % $ !" % $ ( &$ # % % # %% & $ % ( . ! ! # " "% $ % # % " B ( . ! # * H ( . N . $ ! ' ! % $ ( F $ 2 ! ! ! C ! " )$ " " I I % % ( B ,, C( ( + " ! . # ( 0 " $ " ! $ ( # & N % " $ % % % V 3 " " # " I "$ B $ $ ! 3 $ "A ! $ 2 " " % &# $ " % % I % " :C %" & &$ $ ! / " % F $ . # I $ " "$ ( " $ A & " % % " " %% $ # & % !# " " " "A # $ $ " % $ ( . # ' $ % # ( . !% " " $ ( . " " % / (-( " " ) " # J ( ! $ % $ % $ $ 8+ & $ ! A " % ' - % # ( & " 1 % ' " " " *96 "' % " ! " $ % # ( 2 J ( ( . %% ( * # 3 % " ( . " " $ # $ " " # # "& ! # ( 2 # &$ ( (& 2 " " # & ) " " " # "% % " " % $ " # ( & ! 7 " $ + ! & $ & " " $ 2 " " ! # "C( . # ! K " ( " $ $ 8+ ( 2 % $ ( * ! & 8+ " V# $ " " % % ' $ # "$ ! & . # : 3 " & # # " ( " % ' ! $ % " / " , J( "' " $ # & B8+ S 70/(0C( 4 ( !% " ( " I ' # ' $ " ! ' " # " ( Z % $ ! "! % " *96 , # % $ % ' # ( " " 8+ %% # $ C # ( 2 " " " % C( . " ! " & % % " " ) " " " " & K # " # " "$ ! ! Z( 2 # % " " " " % B + ! $ " " ! " " % $ " 8+ ! "" " " " " $! " !' & A ! K& $ ' ! " B " $ "X " " " % B0C ! "A # 2 3 ( . # &$ ( " ' % ! " I 2 % " # " " ' " A " # ' ( &$ " B "A " &$ % ! ( . " " % " "' # % # " % $ # % ( + % ! " B # C $ " # # " " ! # & "C& I %$ . " " ! # & $ ( B ( K " & # " " ( 2 $ & ' ( . % $ % " " # "# " % " % ' I # " # . % ! # ' " . * ( : . ( 9 M ! I " C % % $ $ I %% ( / . " " " " ! & # % ( & " # & A % $ % I " :M& $ " & $ &$ " % ' & "A $ % " % ( . " " % ' # ( " % " ! ( # B : % " % % & $ % ' & % ' H ! % $ % % % " $ . # 0 5 / * & # ! ( % " &$ " $ ! # # ( + % I $ %% " # % ! ! B % $ % A ! ( " " C( + ! ! $ B8+ S , J( ! $ % ! % & "# % & " ,70( & % ' ! % $ % " " ! " ! " ) $ % $ " & ! " " "A %" & * &$ " + " &$ " 8+ S 70/(0 ! " ( % " " " *96 " & 8+ S 07(-& ,-/(7& 0 B " & & , , &$ ' " % $ & XST U& $ # ' ,C $ " " ' "( $ " "" ( 2 % ' $ ! *$ ' & % $ ! # % H 3 ( # $ C ". B C( $ ' " % ! " # % $ " "9 & ) : B ,C $ % " " A % & " # $ " * H " ( 9 &$ # % @ % ! % # i# # # % ! ( . " ' # # % " $ # # ( . # π ik ( 2 , % 0 % " % % 8 $ ( + % ( D % (/ :M ! $" B0( 07 % (::7 ! H !% $ % E % ! % ! " & % $ # $ % " " "" H " ! % ( B % # " ! % ! $ # ! +< ""A "( J " ! 3 ( # :C( ! J(/70 # " " " " + &$ "& % EV $ % $ % % & % & & %% " D% $ ( + C( " "& % " C& $ " /( /-& "# # &$ " " " $ C( # " D% $ " "A ( 7-M ! % " ! "" ! ( . ! & &+ " ( F $ " B7(, , B "6 % % :(/:, # # # # ! % $ ' " & % % $ ! HA + EB " " " ( . (&$ * % # # ' "% " " # ! ( + % # & " $ & % % % " . # " # " % % ' # # ! ' $ !# ": ( . # # ( " ". ) C i "$ % " B:C π k zi , αk fk yi xi β k , σ k !# % % & 3 & (:J ! # ' π k zi , αk fk yi xi β k , σ k " ! ( . % 8 k K k " % " % π ik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educ . %" . . . . . . . . . . . . . . . . . . . . . . . . -0 (J /0 (/- /0 (0- . < ( " " : B & p " %C ( " % "( "( YYY % ' - . . . . . . . < ( ( 0 :(7, +< % $ ) M& YY % ' . . . /0 (:7 . . . . < ( ( :(- % . . . ( 0 (J0 ( . . . . . . . . . . . . . . . . . 1 . . . . " "6 % % F . educ,dem,eco . . . . # /1 %& F ' M( . +< eco . . . # R F 6 % 2 ) . . . " +< . . " +< dem . . . . < ( /0 ( : & " ( & :M& Y ! % ' < # " *96 BC . " A B C . . . %" . . . . . . . . . . . . . . . . R A ((( / J -/ (0< . < . A F . # :1 " 1 % ! " &" :M& YYY % ' . . . . . . . . . . . . . ((( / J -/ ( J < . < . B CB C " " % " M( . " A B C . . . . . . . . . . . . . ((( / J -/ (0 < . # +< . . . . " " A B C . . . " . . . " . 5 " $ " 7 ' " A ( ( Y % ' # " % ((( 00 -/ (0: . B CB C +< M& YY " &' % ' ) % ( Z " . S . . S . . . . . S . . S . . . S . . S J1 1 ! " " # ( . " . . . & . . . . . . . . . . . . U . XST U . . . . . . ! & . . . . . " U . . . . & XST . . . . . . . . . . . . . . S . XST & U . . / (- . & & U . XST" . " . . . . & & . . . . S . . . S . # . . S " XST" & . . " " " ! % % . . . " $ ' "( . . . . 8+ . B + " &X # # " C( Z ! "" % " ) ) % ( < # 2 " . %" . . . . . . . . . . " . -(7 . ( ( - :( 7 . . 7(J- . . 0(-0 . . . . 2 ( : ( . . ( 7 (0, . . ( J . . . . p ( < . ( : . . " . # # -1 1 ( YYY % ' . ! M& YY % ' . " :M& Y % ' , " . # M( J& $ -0 L " S S S0 S S S0 S S S0 S S S0 S S S0 . # 71 ! " " . " . ZST" . . . & & " & . . . . . . . . . . . . . . . . . . 70/(0 . ZST" . & " & & U . . & & . . . . . . . . . . . U . . . . . . . . . . . . . . . . . . . . . . . . . . . ZST . . . . & . . . U . . . . . . . . . . . . . . . . . . . . . . . . . . . ZST . . . . . . . U . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ZST U . . . . . . . . . . . . . . . . . . . . . . . . . . " . . 1 ( 6 . ! # " " . " " " ! $ ' "( 0 . 8+ . B + " &X # " . # % ) C( Z ! "" ( < # 2 " % % . %" . . . . ( / . 0:(:: . ( . . . . . . " . . . . :(J0 . . " . . . ,(, . ( 0 . . . . . . . . " ((( . . . R " &/ J # (:/ 1 ! ( YYY % ' ( ( 7 < . ( , < . (0 ( (J7 ((( " ,1 ( - . 2 . # " ,(:, . p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p "( YYY % ' % # % ! "( 0 (:- &! " &" $ ) M& YY % ' ' " . # ((( , : ( 0 / (,7 # " & :M& Y % ' 00 " . ((( # . # . . . ( . . . < . . . . F 2 ) . . . " B . . " . # . . C " . . %B # ! ' M( B ( " " F % F " " < # BC % % . . %B%" C . . %B K ( :C . %B C . + . %B " . . . . . C . . . . . . . . . . . . . . . . . . . . . . . . % . . . . ((( 2 + ((( . . . . . . . . . . . . . . . . ((( . . ((( . %B " " * . . . . . . . C . ) " . H . . . . . R # . . ! % . . . 9 . # ((( . . " . . . . . ((( . . . . . . . . . . . . . . . . . . " . . . . . . . . . . . . " . . . . . B C % % . . . . B C % % 01 M& YY (/7 " % ' B %:C # ! 1 (0: (: ! :M& Y % ' # ! # " (0/ " M( H ! % 0/ 0J " ! # (:0 # %" (/ YYY % ' ! BC ! " B C& < # " ,% + % . K ( :C . %B C . %B " . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ((( R . . . 1 , # # ! ( YYY % ' . . . (J/ " . (0 ! ' ((( . . . . . . ((( . . . . . " $ " . . ((( 2 + . . . " . . . . /1 . . . . # ! . . . . . . . C " . . . %B " ,7: % % . . %B%" C ,7: (: . . (/J " " # # # & " -/ $ M& YY % ' :M& Y % ' 0: ( . J # M(
© Copyright 2024 Paperzz