Institutional Change and Economic Growth:A Case Study of Eastern and Western Panel Data
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Abstract
Based on Romer model, the paper develops a four sector endogenous growth model with the restrains of institution and human capital. Eleven eastern and western provincial panel data are selected respectively for the research. The results show that, despite of their difference, non-nationalization rate, opening up and the level of government intervention have a positive effect on economic growth of eastern and western regions generally.
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