Fconomlc Growth TbdolEd

inliillIim gmlh MB fd hlicd is addFs.d aing rh. Johte'Jelitrs oinreanlion
0hriquc tud lhc cdnror caus.lny t6r
1,1 conclusion ol the theti'"
Dc rh6is ddu&s lhtl i.$inniml qudity is impdtdr &Lminart of snlidble d'mic
gov,lh, Ituiilutims Dlty ! piv@l rclc in so*tn Pnls lhrud d@6ine fte risk of doing
b6ims dd enablint aviMmor or inDlrlion by plusei.g i. nnl sking opportuitid x h
.Lo ldrd dEr omg rs kids of idhdios, A.ri€l se.tinA inditdids e mft cffaire
wry of eimulalhs eb{h dln dsk rcdrci.e in$ilutim tus[ 'ldming innhni{B dG n{x
sem 1o pniuce d siSnifi€nl impa.t on go{1h in cNounbf envionndl' The Esulls
remai.s uNhmg.d in dcveloping countsi€s' eltings md in$ituiionl Elms 'sp"i'llv plugging
in mt sli4 ap?ononi6 litc clndio it ld'd b b. esnrill an &vclopm'm lscnda Th€
.vil.E of ovq8.@ is.l$ l€sl€d md N sign of umidiliDl mvqged fi)nd bul is
condnional upon $. qulity of pllwle institullons I is $rpnsi4 to disrd rha! whon
insrirutions gnMh dtnamics fd Pahisran v@ rcsb4 nsk Ed(ing inslilutions sm'd to
iifl|rc me ild s Ed Ekhs inrifutiod l. frl rh€ imp€4t of dti Ert sking
idihnim o e:{)nffiic IE fo|lrr.F of P*is $tEd ro main insisnif@t Ine |n6is llso
conclo&s lhol iosrirdrions ond grc$(h in Palisbn aF @inresnted and rhus cxhibil a Elbble
lons run pl io.slil Thc crugei ctuslny lc$ nndinss indiotc lh|l $€rc k cleor Ni-
di@lioml lms nn calelity betwen insliluions i0d Cmwt\ it wltich' lNtitutioMl qulig
qls dmmjc gDuti. How€r, no.vi&n€ *6 fMd f.r slDn nn oDelilv in uv