Acemoglu and Robinson, along with Johnson, emphasized that the stability and success of a nation are deeply tied to the institutions it creates and maintains.
Their joint research illustrated that the variation in prosperity across different nations can largely be traced back to the historical development of their institutions.
The Nobel Prize awarded to Acemoglu, Robinson, and Johnson underscored the significance of their work in understanding how institutions impact economic outcomes.
By analyzing historical data, the team demonstrated that countries with sound institutions are more likely to experience sustained economic growth and development.
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