The Impact of Formal and Informal Institutions on Economic GrowthAuthor :
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Published : Friday 13 May 2011
Description
Regarding Arab region, GDP per capita virtually stagnated for more than 20 years from 1980. During same period, GDP per capita in world's industrialized states further increased and gap between Middle East and North Africa and highly developed countries widened. This text explains differences in development on basis of institutional economics.
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