The link between institutions, technical change and macroeconomic volatility

Sam Hak Kan Tang; Nicolaas Groenewold; Charles Ka Yui Leung

doi:10.1016/j.jmacro.2008.02.002

Author(s)

Sam Hak Kan Tang
Nicolaas Groenewold
Charles Ka Yui Leung

Related Research Unit(s)

Department of Economics and Finance

Detail(s)

Original language	English
Pages (from-to)	1520-1549
Journal / Publication	Journal of Macroeconomics
Volume	30
Issue number	4
Publication status	Published - Dec 2008

Link(s)

DOI	DOI https://doi.org/10.1016/j.jmacro.2008.02.002 Final Published version
	Check@CityULib
Link to Scopus	https://www.scopus.com/record/display.uri?eid=2-s2.0-55349124577&origin=recordpage
Permanent Link	https://scholars.cityu.edu.hk/en/publications/publication(c3552568-6ac5-4801-bf5e-45b31332ed15).html

Abstract

This paper evaluates the role of technical change as a mediating channel through which the effects of institutions trickle down to affect growth volatility. Using different samples, estimation procedures and indicators of institutions and technical change, the results show that technical change is an important stabilizing force of growth volatility and that at least part of the stabilizing force of technical change originates from strong institutions. This conclusion does not appear to be generated by weak data, simultaneity bias or measurement errors and is remarkably robust to a large number of alternative specifications. © 2008 Elsevier Inc. All rights reserved.

Research Area(s)

Economic growth, Growth volatility, Institutions, Technical change

SDG 8 - Decent Work and Economic Growth

Citation Format(s)

[ RIS ] [ BibTeX ]

The link between institutions, technical change and macroeconomic volatility. / Tang, Sam Hak Kan; Groenewold, Nicolaas; Leung, Charles Ka Yui.
In: Journal of Macroeconomics, Vol. 30, No. 4, 12.2008, p. 1520-1549.

Research output: Journal Publications and Reviews › RGC 21 - Publication in refereed journal › peer-review

Tang, SHK, Groenewold, N & Leung, CKY 2008, 'The link between institutions, technical change and macroeconomic volatility', Journal of Macroeconomics, vol. 30, no. 4, pp. 1520-1549. https://doi.org/10.1016/j.jmacro.2008.02.002

Tang, S. H. K., Groenewold, N., & Leung, C. K. Y. (2008). The link between institutions, technical change and macroeconomic volatility. Journal of Macroeconomics, 30(4), 1520-1549. https://doi.org/10.1016/j.jmacro.2008.02.002

Tang SHK, Groenewold N, Leung CKY. The link between institutions, technical change and macroeconomic volatility. Journal of Macroeconomics. 2008 Dec;30(4):1520-1549. doi: 10.1016/j.jmacro.2008.02.002

Tang, Sam Hak Kan ; Groenewold, Nicolaas ; Leung, Charles Ka Yui. / The link between institutions, technical change and macroeconomic volatility. In: Journal of Macroeconomics. 2008 ; Vol. 30, No. 4. pp. 1520-1549.