Comparative Institutional Economics

Essay 1 investigates an empirical link between institutional variables and the performance of firms based on cross-country firm-level survey data. Current empirical evidence based on this type of data is unsatisfactory because employing survey responses as direct measures of institutional concepts and using those to analyze the effects of institutions at the firm level would limit the researcher to findings only within countries effects. This happens at the expense of losing inherent cross-country variation in institutions. Essay 1 offers a simple conceptual framework that decomposes survey responses for each firm into the average of their country and a residual firm-specific component. Importantly…

Contents

Chapter 1: Disentangling the Effects of Institutional Perceptions of Firms in Transition
1.1 Introduction
1.2 Analyzing Survey-Based Institutional Micro Data
1.2.1 Conceptual Framework
1.2.2 Existing Evidence
1.3 Specification and Estimation Issues
1.4 Survey and Institutional Measures
1.4.1 Sample
1.4.2 Performance of Firms – Growth of Sales
1.4.3 Measuring Institutions
1.4.4 Institutions and Survey Questions
1.4.5 Controls
1.5 Results
1.5.1 Specifications 1 vs. 2
1.5.2 Specifications 3 and 4
1.5.3 Controls
1.6 Robustness Tests
1.6.1 GDP Growth Rates
1.6.2 Infrastructure
1.6.3 Labor Regulations
1.6.4 Inflation
1.6.5 Political Freedom
1.6.6 Alternative Dependent Variable: Investment
1.7 Concluding Remarks
Chapter 2: How economic shocks affect the incidence of politically destabilizing events: an instrumental variable approach
2.1 Introduction
2.2 Some Theoretical Background and Empirical Evidence
2.3 Estimation Strategy
2.4 Variables and Data
2.4.1 Controls
2.5 Oil Shocks and GDP Growth in the First Stage: Choosing Instruments
2.6 Main Empirical Results
2.6.1 Unrest
2.6.2 Violent Unrest and Government Crises
2.6.3 More on Controls
2.6.4 Robustness Checks and Alternative Instruments
2.7 Comparison with Miguel et al. results
8 Concluding Remarks
Chapter 3: Estimating Partisan Effects on Income per Capita Growth in U.S States: a Regression Discontinuity Approach
3.1 Introduction
3.2 Regression Discontinuity in the Elections Context
3 Empirical Framework
3.3.1 The Model
3.3.2 Controls
3.4 Data
3.5 Results
3.5.1 Simple Comparison of Growth Rates under Democrats and Republicans
3.5.2 RD estimates – close elections
3.5.3 RD estimates – Control Function Polynomial
3.6 Conclusions
Appendices
Bibliography

Author: Mukashev, Yerzhan Bulatovich

Source: University of Maryland

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