1. These index, available for our full sample period, considers a wide array of institutional features. We estimate the index as the multiply each weight sub index to 12 quality index: (a) Government Stability (with a maximum of 12 points), (b) Socioeconomic Conditions (12 points), (c) Investment Profile (12 points), (d) Internal Conflict (12 points), (e) External Conflict (12 points), (f) Corruption (6 points), (g) Military in Politics (6 points), (h) Religious Tensions (6 points), (i) Law and Order (6 points), (j) Ethnic Tensions (6 points), (k) Democratic Accountability (6 points;the International Country Risk Guide, published by the Political Risk Services (PRS) Group
2. Institutions as the Fundamental Cause of Long-Run Growth