Abstract

RODRIGUEZ-ALBOR, Gustavo; RAMOS-RUIZ, José Luis  and  SANABRIA-LANDAZABAL, Néstor Juan. The role of institutions in subnational territories. Convergencia [online]. 2016, vol.23, n.72, pp.143-169. ISSN 2448-5799.

The neo-institutional economic theory argues that the economic performance of a territory is influenced by the role of their institutions. Nevertheless, the evidences of such studies have been raised almost exclusively from the association of countries. The following article explores formal and informal institutional variables, related with the economic performance and the growth rate of the Gross Domestic Product for the subnational departments in Colombia. Correlations are used in order to know the level of association between institutional variables and the economic growth. The empirical results show the institutional variables that bears statistic relation with the economic subnational behavior, which shows the significance of the game rules from the territories.

Keywords : Formal institutions; informal institutions; subnational territories; economic growth; institutional analysis.

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