Cows and conquistadors: a comment on the colonial origins of comparative development
Fielding, David; Torres, Sebastian

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Fielding, D., & Torres, S. (2005). Cows and conquistadors: a comment on the colonial origins of comparative development (Economics Discussion Papers Series No. 504). University of Otago. Retrieved from http://hdl.handle.net/10523/983
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http://hdl.handle.net/10523/983
Abstract:
Robust estimation of the impact of political institutions on economic development requires the identification of valid instruments for institutional quality. Acemoglu et al. [2001] introduced the use of colonial settler mortality rates as such an instrument. Our paper develops a more eclectic theory of colonial development, and compares the performance of the settler mortality model to alternatives incorporating instruments reflecting the production structure of colonial economies. Ceteris paribus, colonies with a natural comparative advantage in pastoral agriculture were more likely to experience European settlement that led to non-extractive institutions. Some – but not all – of Acemoglu et al.’s conclusions are robust to the use of a wider set of instruments.
Date:
2005-05
Publisher:
University of Otago
Pages:
34
Series number:
504
Keywords:
economic development; Institutions
Research Type:
Discussion Paper
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