File him in the category underappreciated economists. Does good governance matter for growth? Could there be a more important question for economists? The standard cross-sectional growth tests do not show much of a robust effect. But Johannes, along with co-authors Robert Klitgaard and Kamil Akramov, has a 150-page paper showing that if you take all the relevant heterogeneities into account yes, Adam Smith and Doug North were right after all.
Or do you prefer simple regressions which meet the eyeball test?
Here is the full paper. Here is Johannes’s long paper on South African economic history.
I prefer the eyeball test.
Minor annoyance: in this day and age, I do not understand why people continue to put tables and figures at the end of the paper.
Plus, you’ll never know if you have *all* of the relevant heterogeneities, only the ones you can identify.
Who is in favor of calling the
“Or do you prefer simple regressions which meet the eyeball test?”
The Al Gore Method?
“Plus, you’ll never know if you have *all* of the relevant heterogeneities, only the ones you can identify.”
Trivially true.
“in this day and age, I do not understand why people continue to put tables and figures at the end of the paper.”
That’s what the journals demand.
Since good government is a public good (at least in a democracy), how can we trust judgments of what “good” governance is? Who has the incentive to judge and report it accurately? It seems like its easy for politicized groups to cherry-pick pieces of governance that they agree with and claim those are the causes of growth. I’ve often wondered if Cato’s and Heritage’s indexes simple correlate freedom with wealth, then define freedom from that. Of course, I don’t mean to imply that all such biases are conscious; I think most probably aren’t.
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