1. 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

2. Institutional Quality Indicators

3. 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),

4. 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),

5. 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),

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

7. 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),

8. 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),

9. 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:
The price for purchasing the Table 3B (Political Risk Ratings) of ICRG only is $ (Table 3B is also one of the databases applied in article "Institutional quality dataset") The URL for subscription is:

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

11. END
Questions & Comments welcome