The Mystery of Why Some Nations Are Rich and Others Are Poor: A Nobel Prize in Economics
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The Mystery of Why Some Nations Are Rich and Others Are Poor: A Nobel Prize in Economics

Hindustan Times  

The Nobel Memorial Prize in Economics awarded to Daron Acemoglu, Simon Johnson and James A Robinson explores the importance of institutions in economic growth. The researchers argue that institutions, such as inclusive and extractive ones, play a crucial role in determining a country's wealth and development. They use an instrumental variables approach to identify which European colonies developed inclusive institutions and which developed extractive ones. Their findings challenge traditional models of economic growth and highlight the importance of institutions in shaping development.

Social Sciences Political Economy Development Economics Historical Economics  nobel  succeed  nations  economics  acemoglu  work  institutions  growth  poor  johnson  fail  robinson  development

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