Do institutions moderate globalization's effect on growth?
利用82个国家25年的面板数据，研究制度质量与全球化对经济增长的交互作用，发现制度质量显著促进增长，但经济全球化的直接效应不显著，交互效应在发展中国家子样本中有所体现。
Abstract The hypothesis that institutional factors affect real economic growth has received support in both the theoretical and empirical literature. Globalization has also, though not unanimously, been found to affect growth outcomes. Bridging the gap between the two strands of the literature, this paper investigates the existence and strength of the interaction between institutional quality and globalization on real economic growth using a panel dataset covering 82 countries and spanning 25 years (1986–2010). Dimensionality reduction techniques are employed to identify key components of ‘institutional quality’: the rule of law, civil liberties and political rights. The empirical results reveal that while ‘institutional quality’ robustly and positively affects growth, the direct effect of economic globalization is not significant and the interaction effects, perhaps as a consequence, are muted over the review period. Direct and interaction effects of institutional quality and economic globalization on growth are, however, observed for the sub-sample of developing countries.