Figure 3 - uploaded by Erol Türker Tümer
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Economists have long recognized that institutions are among the main determinants of economic growth and prosperity. However, the question of how institutional structures affect economic outcomes is still a matter of debate, as so far, neither theoretical nor empirical studies have elaborately revealed the possible mechanisms of interaction between...
Contexts in source publication
Context 1
... the development level of a country is deeply bound up with its growth performance in the past years, ascertaining patterns of variations in the growth rate of countries can therefore provide some information about the prevailing differences in economic prosperity and the upward movements in the global inequality. Concerning this matter, Figure 3 displays cross-country differences in growth rates in the form of a histogram for a sample of 99 countries with complete data from 1960 to 2014. In this figure, there are two points to be emphasized. ...
Context 2
... one set of countries succeeded in growing at unprecedentedly high rates, some others experienced low or negative growth rates. For instance, Figure 3 shows that 7 out of 99 countries have recorded growth rates higher than 4%. Amongst this set of countries, the Republic of Korea, Botswana and Taiwan are the most successful ones with having growth rates higher than 5%. ...
