"Coincidence? I don't think so"

The May 2007 issue of Econ Journal Watch is now available. I am working through it and greatly enjoying it. (Full disclosure: I am listed on its Advisory Council).

In this issue, John Dawson surveys the growing literature on institutions and development that has made its way into refereed journals. He finds that papers that rely on the Economic Freedom of the World Index have trouble making it into top-tier journals.

"Coincidence? I don't think so." This is Dawson's view and his numbers are compelling.

Another project (for the future) would be to see how this literature will fare in the textbooks.

Google Scholar shows 35,600 hits for "market failure" but only "7,750" for "government failure".

"Coincidence? I don't think so,"