DEGRP: DFID-ESRC Growth Research Programme, Call 3 Research Project Workshop At SOAS University of London, March 3rd – 4th 2017 Building Datasets on Institutional Quality Indicators for Africa Victor Murinde & associates, University of Birmingham & collaborating institutions ESRC Reference - ES/N013344/1: Delivering Inclusive Financial Development and Growth Research Project Workshop SOAS University of London 3rd – 4th March, 2017

Institutional Quality Indicators

Institutional Proxies (1) Institutional group and measure Source Code Start Date Legal Institutions Index of economic freedom property rights The Heritage Foundation and WSJ L1 1995 Freedom of the press: legal environment Freedom House L2 1980 Freedom in the world: civil liberties L3 1973 EFW index: judical independence Fraser Institute L4 1970 EFW index: impartial courts L5 EFW index: protection of property rights L6 Law and order ICRG L7 1984 Religion in politics L8 Rule of law WB WGI L9 1996 Source: Table 1 of KunČIČ, A. (2014). Institutional quality dataset. Journal of Institutional Economics, 10(1), 135-161.

Institutional Proxies (2) Institutional group and measure Source Code Start Date Political institutions Freedom of the press: political environment Freedom House P1 1980 Freedom in the world: political rights P2 1973 Institutionalized democracy-institutionalized autocracy Polity IV P3 1800 Checks and balances WB DPI P4 1975 Democratic accountability ICRG P5 1984 Corruption P6 Bureaucratic accountability P7 Internal conflict P8 Military in politics P9 Control of crruption WB WGI P10 1996 Corruption perceptions index Transparency international P11 1995 Political terror scale P12 1976 Source: Table 1 of KunČIČ, A. (2014). Institutional quality dataset. Journal of Institutional Economics, 10(1), 135-161.

Institutional Proxies (3) Institutional group and measure Source Code Start Date Economic institutions Index of economic freedom: financial freedom The heritage Foundation and WSJ E1 1995 Index of economic freedom: business freedom E2 Regulatory quality WB WGI E3 2005 Freedom of the press: economic environment Freedom House E4 1980 EFW index: freedom to own foreign currency bank accounts Fraser Institute E5 1970 EFW index: regulation of credit, labor, and business: credit market regulations E6 EFW index: regulation of credit, labor, and business: labor market regulations E7 EFW index: regulation of credit, labor, and business: business regulations E8 EFW index: foreign ownership/investment restrictions E9 EFW index: capital controls E10 Investment profile ICRG E11 1984 Source: Table 1 of KunČIČ, A. (2014). Institutional quality dataset. Journal of Institutional Economics, 10(1), 135-161.

New Institutional World Order Source: Figure 1 of KunČIČ, A. (2014). Institutional quality dataset. Journal of Institutional Economics, 10(1), 135-161.

Cluster Memberships (Number of Countries) Angola Albania Peru UAE Bahamas Australia Azerbaijan Argentina Philippines Bahrain Botswana Austria Bangladesh Armenia Papua New G. Hong Kong Chile Belgium China Burkina Faso Paraguay Jordan Costa Rita Canada Cote d'Ivoire Bulgaria Romania Kuwait Cyprus Switzerland Cameroon Bolivia Russia Morocco Czech Republic Germany Republic of Congo Brazil El Salvador Malaysia Spain Denmark Algeria Colombia Serbia Oman Estonia Finland Egypt Dominican R. Thailand Qatar France United Kingdom Ethiopia Ecuador Turkey Saudi Arabia Greece Ireland Guinea-Bissau Gabon Tanzania Singapore Hungary Iceland Haiti Ghana Ukraine Tunisia Isreal Japan Indonesia Guatemala Venezuela Italy Luxembourg Iran Guyana Zambia South Korea Netherlands Kazakhstan Honduras Lithuania Norway Kenya Croatia Latvia New Zealand Burma India Malta Sweden Niger Jamaica Namibia United States Nigeria Sri Lanka Poland Pakistan Moldova Portugul Senegal Mexico Slovakia Sierra Leone Mali Slovenia Syria Mongolia Trinidad and Tobago Togo Mozambique Taiwan Uganda Malawi Uruguay Vietnam Nicaragua South Africa DR of Congo Panama Zimbabwe Source: Table 2 of KunČIČ, A. (2014). Institutional quality dataset. Journal of Institutional Economics, 10(1), 135-161.

Correlations of institutional measures Legal institutional quality Political institutional quality Economic institutional quality 1.00 0.92 0.83 0.81 Real GDP per capita 0.75 0.68 0.71 Legal institutional quality (absolute) 0.96 Political institutional quality (absolute) 0.90 0.99 0.79 Economic institutional quality (absolute) 0.73 0.89 WGI mean 0.97 0.94 0.91 Institutional climate index 0.77 0.76 GCI 0.86 0.74 0.80 GCI: first pillar - institutions 0.78 Source: Table 4 of KunČIČ, A. (2014). Institutional quality dataset. Journal of Institutional Economics, 10(1), 135-161.

Availability and cost All the afore mentioned databases have free access except for ICRG database. The price for purchasing the whole ICRG database is $6,100.00 The URL for subscription is: http://epub.prsgroup.com/products/international-country-risk-guide-icrg The price for purchasing the Table 3B (Political Risk Ratings) of ICRG only is $565.00. (Table 3B is also one of the databases applied in article "Institutional quality dataset") The URL for subscription is: http://epub.prsgroup.com/products/icrg/researcher-dataset-icrg-t3b-political-risk

Going Forward Complete the datasets for all African countries by October 2017 Upload the data on research project webpage Empirical work, 2017-2020

END Questions & Comments welcome