1203–1250; and Hall, R. and Jones, C. (1999), Why do some countries produce so much more output per worker than others, The Quarterly Journal of Economics, Vol. 114, No 1, pp. 83–116.
The possible reverse causality from income levels to institutional quality is well known and would deserve further investigation at euro area level, although it is likely to be less significant than between advanced and low-income economies. See Acemoglu, D., Johnson, S. and Robinson, J. (2001), The Colonial Origins of Comparative Development: An Empirical Investigation, American Economic Review, Vol. 91, No 5, pp. 1369–1401.