Do the Models of Institutional Quality Differ According to the Income Level of the Countries? The Case of the Low-Income Countries

Abstract

This paper contributes to the debate about which factors determine the institutional quality of countries. it uses explanatory economic, socio-political and cultural variables for three sub-samples of countries with different income level. The results validate the hypothesis that establishes there is not an only valid model of institutional quality for all countries. moreover, the limited explanatory capacity of the model for the low-income level sub-sample of countries has motivated the incorporation of other variables related to colonial origins, geographical location or life expectancy. The results validate the theoretical arguments that propose the use of these variables.