The paper empirically estimates the effects of both intrinsic and extrinsic determinants on economic growth. We specifically focus on the effect of extrinsic uncertainty variables on GDP growth in terms of their size and significance. The extrinsic variables are represented by democracy, corruption and armed conflicts. In a cross-sectional study involving 127 countries, we find that corruption and democracy negatively affects economic growth. Armed conflicts do not appear to have any statistically significant effect on economic growth.
- Extrinsic uncertainty,
- economic growth
Available at: http://works.bepress.com/nusrate_aziz/12/