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Do institutions matter more for services ?

Mohammad Amin () and Aaditya Mattoo

No 4032, Policy Research Working Paper Series from The World Bank

Abstract: Recent empirical research has focused on the role ofinstitutions in overall economic performance. This paper examines the impact of institutions on the relative performance of the service sector. Through cross-country level and growth regressions it establishes the following stylized fact: countries with better institutions have relatively larger and more dynamic service sectors. It suggests that regulatory and contract enforcing institutions play a key role in the development of service sectors because these sectors enter into a more complex web of transactions with the rest of the economy and are more prone to market failure due to asymmetric information.

Keywords: Legal Products; Children and Youth; Economic Theory&Research; Public Sector Corruption&Anticorruption Measures; Corruption&Anitcorruption Law (search for similar items in EconPapers)
Date: 2006-10-01
New Economics Papers: this item is included in nep-dev
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