Central Bank of Chile paper identifies growth benefits from contracting institutions


As the economy approaches a steady state, the effect of contracting institutions on GDP per capita increases, according to a Central Bank of Chile paper published on Thursday.

Álvaro Aguirre, the paper's author, uses a growth model with endogenous incomplete markets and financial frictions to study the effects of contracting institutions on economic development. Aguirre distinguishes between contracting institutions – institutions that enable private contracts between citizens – and property

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: