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- W102744102 abstract "The paper argues that there is a bi-directional relationship between the quality of institutions and the quality of leaders. Institutions are as good as the people who run them and people are as good as the institutions within which they operate. However, the infinite regress problem of ‘who monitors the monitor’ implies that we cannot design institutions with perfect checks and balances. Therefore, the ‘right’ institutions might fail to produce the desired results because the quality or character of the people running them is very poor. While we focus on the character of leaders, we, nevertheless, argue that differences in inter-country socio-economic performance need not stem from differences in the endowments of integrity or moral character of their populations. On the contrary, two societies could have the same endowment of integrity within their populations but one society might perform better because it has a better process of selecting good-quality leaders. We, therefore, argue that the selection process for leaders or politicians is very important for socio-economic performance." @default.
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- W102744102 date "2006-01-01" @default.
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- W102744102 title "Why the 'right' institutions might fail*" @default.
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