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Exogenous variation

Graph of polity index vs time waves of cemocracy three

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Unformatted text preview: ions (eg. Knowledge instead) Settler mortality reflects settlement policies (more restrictive by Spain, more generous by British); those policies may be correlated with institutions Settler mortality reflects DISEASE patterns (Sachs) Side effect of disease that is affecting growth Another possibility: Geography and institutions INTERACT Spanish and Portuguese were early, followed by the rench, Britain was late to the new world Colonization patterns reflect this: Britan got the relatively cash- crop/mineral poor parts of the New World Spanish/French “civil” laws different than English ‘common’ law Perhaps good institutions can only thrive in certain geographic areas Sachs, et al.: tropical and landlocked countries are not likely to be blessed with limited government (there will be restrictions and laws on trade, etc) Getting “good institutions” Those that maximize social surplus (efficient) Three characteristics Enforcement of property rights Constraints...
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