Institutions Matter
Institutions, defined as the "rules of the game," play a crucial role in economic growth, but measuring their impact can be paradoxical. While the intuition is that societal organization matters, the methods used to quantify institutional quality often strip away this fundamental understanding. The challenge lies in recognizing that successful institutions in one country may not be applicable to another, as the unique political and historical contexts shape their effectiveness.In this clip
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EconTalk
Morten Jerven on African Economic Growth
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