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Technical note
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Reference no. UVA-BP-0475
Authors: Wei Li; Victor Abiad
Published by: Darden Business Publishing
Published in: 2003
Length: 6 pages

Abstract

Why are some countries much richer than others? This technical note proposes a framework to begin answering this question. The first part identifies inefficient institutions as the root cause of the economic differences between societies. The second part analyzes how these institutions change. And the final part suggests how lessons from this institutional framework can be applied.

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Abstract

Why are some countries much richer than others? This technical note proposes a framework to begin answering this question. The first part identifies inefficient institutions as the root cause of the economic differences between societies. The second part analyzes how these institutions change. And the final part suggests how lessons from this institutional framework can be applied.

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