Fconomlc Growth TbdolEd

covenns 93 @ri6 enployina nine irdi@s
go*1h, comludiry tnlt TfP go*rh is f$to. in
5.2. Institutions an I Neo-Clostkal convergence
of rEd€, adnd n b b€ infrMdbl in TFP
N€ cl,sial ln.ory pddicts convergence ol pd olpira srcwlh of cotr'ties nlkins
ddvelopina coubics me or plr wnh devclop€d counlrics ov$ tim€ However' lack of
cvid€ne for convssetce s@s lo wsken dis lh.ory o' ohpi'ial sounds
(Pe@n cl rr'
l96q Romer 1994), and develoFd @unlri.s conintr. to sow f6rer Oe ft'n stddv sl!|e
gb*h Bt 6 poposd by ndl6i4l thdi6 ln ptnicular, Rdq (199'l) sho{s
flpiriolly rht. sbnd.rd pniuclid frrmtio k irc'Iddw fa qpltining podudivilv in N
@mty sniDgs dw 1o $illovd effei oa tiowlcdgc iiom t!.sfd of tehnoLoAic! ltis
s€paEt .tr€cl is mr MnEn in poducio turctio mdins bid plducritirv 6limd6'
Hde tft* is rc sdpporr for unsnditiorl 6ec4p@ Horcs' omv @nm'$
belirc rh.i this @v.4pd i3 condilioml upon lh. qEftv of iinituid3 The idiorids
sh'p€ rh€ inmwii€ *tivnies in thc eoomy snd sF.d up lehnologJ/ odoptioD- lnslituli@l
Nea}*ss i. fom of Bov.mcnl inl€d.ntjo, @Nprid, !.d unl'oret d popdv dgl'6 in
d€v.loping outies 6 b€ alttibur.d |o low l.v.l of oov.i*pne (Shieifer 4 al l93!
Rodrick I 99s; Acemoglu 2002; Ac.no! |U .l a l. 2000, 20tt4 2002bi Djankov €t !1 2002 md
2003: B.m 199?), tn ptnicul.r, did.nce polid.d by Rodrick (1993) suppotu this
hypoln*is, 6 6!.di.s havins hish in.qolity, dhnic fmsn.nLtion, weak govemanc.
in*innions like rDl. ol law, citians' righlr, cxp.ricne ! shla drcp in lh€i gro*lh Eles anst
1975. A@oslD (2002) lle onributd fi. look ofonv€r8€n@ lo rent €xltdcring instil{hons
dd inefficidt polici€s sding inEEsb of powq bok.^. ln o similar @ntxr, A*moglu el
rl. (2002a) emphosiB thal tlchmlogicll adoplid rnd indilulioal d*lopn.nl m bc