Politics and Productivity
使用随机前沿方法，研究了1975-1990年39个国家的政治和监管制度对总体生产率的影响，发现技术效率与支持自由放任的政策及促进政策稳定的政治结构正相关。
We use a stochastic frontier approach to study the effects of political and regulatory institutions on aggregate productivity in 39 countries from 1975 to 1990. We show that technical efficiency is positively related to policies supporting laissez‐faire and political structures that promote policy stability. Moreover, models of technical efficiency incorporating both measures perform better than models including only one or the other. This suggests that economic performance depends not only on current policies but also on the confidence of market participants and outside investors that these policies will remain in place.