Dear research fellows on RG
I have seen in literature, that regional location of a country or its origin such as British, French etc are used as instruments for institutional quality. But I have not found how numeric values are assigned to these. For example out of 20 sample countries 5 belongs to one region, 3 to another, 6 to another... etc.. how we can give numeric weightage to these to estimate.
Sincere Ragards
Khan Asif Khan