Institutions and Economic Performance: Endogeneity and Parameter Heterogeneity
检验了制度与经济绩效关系中的参数异质性，发现异质性很强，需要新工具变量控制内生性，但先进国家和发展中国家存在共同的重要制度，其影响在发展中国家约是OECD国家的三倍。
The hallmark of the recent development and growth literature is the quest to identify institutions that explain significant portions of the observed differences in living standards. There are two drawbacks to the prominent approaches that focus either on the global sample, or on developing nations. First, it is unclear whether the identified institutions also hold explanatory power in advanced countries. Second, it is unclear whether the identified institutions matter to the same degree across all countries, or whether perhaps an altogether different set of institutions matters in advanced countries. To address these issues, we examine parameter heterogeneity in prominent approaches to institutions and economic performance. We find that parameter heterogeneity is so strong that it requires a new set of instruments to control for endogeneity. At the same time, however, we confirm that a common set of economically important institutions does exist among advanced and developing nations. The impact of these institutions is shown to vary substantially across subsamples; they are about three times more important in developing countries than in OECD countries.