Unveiling the mutual dynamics: Institutions, education and economic growth over 138 years in OECD countries
研究了138年间20个OECD国家中制度、教育与经济增长之间的双向关系，发现制度和教育促进增长，增长也反过来促进制度和教育，但制度与教育之间无显著相互影响。
Abstract Many articles examine the effect of institutions and education on economic growth in growth models or empirical settings. However, the opposite effect of economic development on institutions and education is less researched. Systematic evidence is scarce when looking at the interplay of education and institutions. Most of the literature focuses on post‐war evidence starting in the 1960s only. However, institutions and education, both, only change slowly over time and, thus, should be analysed over a longer period. In this article, we try to close a gap by examining the relationship between all three variables over 138 years. By estimating a vector error correction model for a sample of 20 Organisation for Economic Co‐operation and Development (OECD) countries, we are additionally able to differentiate between short‐ and long‐run results. We find positive effects of institutions and education on growth and vice versa. In contrast, institutions and education do not significantly affect each other. Our results are robust to several robustness tests and extensions.