La relación entre las instituciones y el desarrollo económico de las naciones [The relationship between institutions and economic development]

Abstract

The new paradigm in the field of International Cooperation is that institutions are the fundamental cause of long-run economic development. However, the lack of both a clear consensus on which are the specific institutions that promote development, and a theory that integrates economic, political and cultural aspects that lie behind these institutions, is making highly confusing to put this paradigm into practice. This essay reviews the academic literature, laying down a conceptual framework and the available empirical evidence on specific institutions, in order to understand which are these pro-growth institutions, and the political nature of the problem that entails trying to put them into practice.