Institutions and growth volatility

Anbarci, Nejat, Hill, Jonathan and Kirmanoglu, Hasan 2011, Institutions and growth volatility, Economic papers, vol. 30, no. 2, pp. 233-252.

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Title	Institutions and growth volatility
Author(s)	Anbarci, Nejat Hill, Jonathan Kirmanoglu, Hasan
Journal name	Economic papers
Volume number	30
Issue number	2
Start page	233
End page	252
Publisher	Wiley-Blackwell Publishing Asia
Place of publication	Richmond, Vic.
Publication date	2011-06
ISSN	1759-3441
Keyword(s)	democratic institutions individualism collectivism investment volatility growth volatility
Summary	Recently some studies provided evidence that democratic political institutions generate less volatile growth. These studies, however, do not provide any link between democracy and investment volatility. Here, we focus on the specific channel that links individualistic societies and low growth volatility. We test whether investment volatility and consequently growth volatility are lower in individualistic societies. We construct a two-equation system of investment and income growth volatility, allowing various measures of individualism to influence growth volatility both directly and indirectly. We find that individualism significantly directly and indirectly influences growth volatility negatively.
Language	eng
Field of Research	140212 Macroeconomics (incl Monetary and Fiscal Theory)
Socio Economic Objective	910103 Economic Growth
HERDC Research category	C1 Refereed article in a scholarly journal
Copyright notice	©2011, The Economic Society of Australia
Persistent URL	http://hdl.handle.net/10536/DRO/DU:30036874

Document type:	Journal Article
Collections:	Faculty of Business and Law School of Accounting, Economics and Finance

Access Statistics:	60 Abstract Views, 2 File Downloads - Detailed Statistics
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