Abstract
| Original language | English |
|---|---|
| Pages (from-to) | 1520-1549 |
| Journal | Journal of Macroeconomics |
| Volume | 30 |
| DOIs | |
| Publication status | Published - 2008 |
Fingerprint
Cite this
}
The link between institutions, technical change and macroeconomic volatility. / Tang, Sam; Groenewold, Nicolaas; Leung, C.K.Y.
In: Journal of Macroeconomics, Vol. 30, 2008, p. 1520-1549.Research output: Contribution to journal › Article
TY - JOUR
T1 - The link between institutions, technical change and macroeconomic volatility
AU - Tang, Sam
AU - Groenewold, Nicolaas
AU - Leung, C.K.Y.
PY - 2008
Y1 - 2008
N2 - This paper evaluates the role of technical change as a mediating channel through which the effects of institutions trickle down to affect growth volatility. Using different samples, estimation procedures and indicators of institutions and technical change, the results show that technical change is an important stabilizing force of growth volatility and that at least part of the stabilizing force of technical change originates from strong institutions. This conclusion does not appear to be generated by weak data, simultaneity bias or measurement errors and is remarkably robust to a large number of alternative specifications. (C) 2008 Elsevier Inc. All rights reserved.
AB - This paper evaluates the role of technical change as a mediating channel through which the effects of institutions trickle down to affect growth volatility. Using different samples, estimation procedures and indicators of institutions and technical change, the results show that technical change is an important stabilizing force of growth volatility and that at least part of the stabilizing force of technical change originates from strong institutions. This conclusion does not appear to be generated by weak data, simultaneity bias or measurement errors and is remarkably robust to a large number of alternative specifications. (C) 2008 Elsevier Inc. All rights reserved.
U2 - 10.1016/j.jmacro.2008.02.002
DO - 10.1016/j.jmacro.2008.02.002
M3 - Article
VL - 30
SP - 1520
EP - 1549
JO - Journal of Macroeconomics
JF - Journal of Macroeconomics
SN - 0164-0704
ER -