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Acemoglu Joins Mankiw: Effect of Institutions in Growth Through Human Capital

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  • Fabio Gama
  • Suzana Quinet de Andrade Bastos
  • Guilherme Cardoso

Abstract

Starting from the Augmented Solow Model developed by Mankiw, Romer, & Weil (1992), the present paper considered new perspectives in which institutions are considered “fundamental determinants” to explain economic growth. Through the data panel methodology, and with information for the years 2000, 2005 and 2010 from 87 countries, we used the interactive variables mechanism to verify whether the relationship between human capital and GDP per capita is encouraged by the institutions. The results indicate a positive relationship between economic and political institutions with the effect of education on per capita growth of countries, with greater influence of the former.

Suggested Citation

  • Fabio Gama & Suzana Quinet de Andrade Bastos & Guilherme Cardoso, 2020. "Acemoglu Joins Mankiw: Effect of Institutions in Growth Through Human Capital," International Journal of Social Science Studies, Redfame publishing, vol. 8(1), pages 99-108, January.
    • Handle: RePEc:rfa:journl:v:8:y:2020:i:1:p:99-108
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    References listed on IDEAS

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    3. North,Douglass C., 1991. "Institutions, Institutional Change and Economic Performance," Cambridge Books, Cambridge University Press, number 9780521394161, October.
    4. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005. "Institutions as a Fundamental Cause of Long-Run Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472, Elsevier.
    5. Philippe Aghion & Peter Howitt, 2009. "The Economics of Growth," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262012634, April.
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    7. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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