They provided an explanation for why some countries are rich and others poor

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No 2024-1, Nobel Prize in Economics documents from Nobel Prize Committee

Abstract: This year’s laureates have provided new insights into why there are such vast differences in prosperity between nations. One important explanation is persistent differences in societal institutions. By examining the various political and economic systems introduced by European colonisers, Daron Acemoglu, Simon Johnson and James A. Robinson have been able to demonstrate a relationship between institutions and prosperity. They have also developed theoretical tools that can explain why differences in institutions persist and how institutions can change.

Keywords: Prosperity; Institutions (search for similar items in EconPapers)
JEL-codes: O11 O43 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2024-10-14
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