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Pillars of ProsperityThe Political Economics of Development Clusters$
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Timothy Besley and Torsten Persson

Print publication date: 2011

Print ISBN-13: 9780691152684

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691152684.001.0001

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Lessons Learned

Lessons Learned

Chapter:
(p.302) Chapter 8 Lessons Learned
Source:
Pillars of Prosperity
Author(s):

Timothy Besley

Torsten Persson

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691152684.003.0008

This chapter sums up and takes stock of the present findings. The entire project in this book is theory-driven with a core model at the heart of the approach. It ties together three different, but related, facets of development: breaking out of poverty, building a state strong enough to support markets and provide public goods, and putting an end to violent political conflicts. The chapter also defines and computes a Pillars of Prosperity Index, based on empirical counterparts to the central outcomes emphasized by the developed theory. It uses the theory—as summarized in the Anna Karenina matrix of Chapter 5—to predict the values of this index, based on empirical counterparts of the central determinants uncovered by the theory. Comparing the actual and predicted values of the Pillars of Prosperity Index for 150 countries, we learn about successes as well as failures of the theory.

Keywords:   political reform, Pillars of Prosperity Index, economic development, poverty

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