During the last years the effects of socio-institutional and political variables on economic conditions has gained importance in the literature. This paper investigates the links between socio-institutional variables and capital inflows and GDP relative to a sample of countries for the years 2003-2004. First of all, the causality relationships between the variables under consideration are investigated and identified by means of a particular software, call TETRAD; after that, a system of equations is estimated. The results support the hypothesis that economic freedom is crucial for both capital flows and GDP
Institutional variables, capital flows and GDP: a causality analysis / G., Mastromatteo; Verga, Giovanni. - In: STUDI ECONOMICI. - ISSN 0039-2928. - 91:(2007), pp. 25-54.
Institutional variables, capital flows and GDP: a causality analysis
VERGA, Giovanni
2007-01-01
Abstract
During the last years the effects of socio-institutional and political variables on economic conditions has gained importance in the literature. This paper investigates the links between socio-institutional variables and capital inflows and GDP relative to a sample of countries for the years 2003-2004. First of all, the causality relationships between the variables under consideration are investigated and identified by means of a particular software, call TETRAD; after that, a system of equations is estimated. The results support the hypothesis that economic freedom is crucial for both capital flows and GDP| File | Dimensione | Formato | |
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