Abstract

RAMIREZ HASSAN, Andrés; CADAVID MONTOYA, Ramiro  and  GARCIA PELAEZ, Santiago. PERFORMANCE OF COMPANIES AND INSTITUTIONAL ARRANGEMENTS IN COLOMBIA, 2002-2007. Rev.econ.inst. [online]. 2011, vol.13, n.25, pp.179-198. ISSN 0124-5996.

In this paper, we estimate a dynamic panel data model to determine the effect of various institutional factors on the performance of a sample of Colombian companies during the period 2002-2007. Our results indicate that the analysed companies are affected by these factors. Institutions associated with property rights and contract compliance have significant effects on the growth of the firms. On the other hand, financial development does not have a significant effect.

Keywords : neo-institutionalism; economic growth; violence; justice; financial development; industrial organization; dynamic models; generalized method of moments; Blundell-Bond method.

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