Showing papers by "Alberto Cavallo published in 2008"
Posted Content•
TL;DR: In this paper, evidencia empirica de la importancia que tienen las instituciones en determinar el resultado de las crisis sobre el crecimiento a largo plazo.
Abstract: Este articulo ofrece evidencia empirica de la importancia que tienen las instituciones en determinar el resultado de las crisis sobre el crecimiento a largo plazo. Una vez que se explican los efectos no observados especificos del pais y otras fuentes de endogeneidad, las instituciones politicas afectan el crecimiento mediante su interaccion con las crisis. Los resultados sugieren que solo los paises con una democracia solida, altos niveles de competencia politica yrestricciones externassobre elgobierno pueden potencialmente beneficiarse con las crisis y utilizarlas como una oportunidad para mejorarsu produccion per capita a largo plazo y el crecimiento productivo.
9 citations
TL;DR: In this paper, the authors provide empirical evidence for the importance of institutions in determining the outcome of crises on long-term growth, and suggest that only countries with strong democracies, high levels of political competition and external constraints on government can potentially benefit from crises and use them as opportunities to enhance longterm output per capita and productivity growth.
Abstract: This paper provides empirical evidence for the importance of institutions in determining the outcome of crises on long-term growth. Once unobserved country-specific effects and other sources of endogeneity are accounted for, political institutions affect growth through their interaction with crises. The results suggest that only countries with strong democracies, high levels of political competition and external constraints on government can potentially benefit from crises and use them as opportunities to enhance long-term output per capita and productivity growth.
5 citations
Posted Content•
TL;DR: In this article, the authors provide empirical evidence for the importance of institutions in determining the outcome of crises on long-term growth, and suggest that only countries with strong democracies, high levels of political competition and external constraints on government can potentially benefit from crises and use them as opportunities to enhance longterm output per capita and productivity growth.
Abstract: This paper provides empirical evidence for the importance of institutions in determining the outcome of crises on long-term growth. Once unobserved country-specific effects and other sources of endogeneity are accounted for, political institutions affect growth through their interaction with crises. The results suggest that only countries with strong democracies, high levels of political competition and external constraints on government can potentially benefit from crises and use them as opportunities to enhance long-term output per capita and productivity growth.
1 citations