Abstract

VARGAS CHANES, Delfino  and  GONZALEZ NUNEZ, José Carlos. The effect of institutions on Latin American economic growth. Perf. latinoam. [online]. 2018, vol.26, n.51, pp.329-349. ISSN 0188-7653.  https://doi.org/10.18504/pl2651-013-2018.

The aim of this article is to identify relevant characteristics of institutions that have an effect on economic growth in selected Latin American countries. A multilevel model was used for this propose, the dependent variable is the real per capita GDP, and the explanatory variables are indicators of governance provided by the World Bank. The results show that the significant variables are regulatory quality and control of corruption. This implies the need to strengthen the institutions of the rule of law, voice and accountability, political stability and absence of violence, and government effectiveness.

Keywords : Economic growth; institutions; governance; regulatory quality; control of corruption and multilevel model.