The institutional change is the coefficient result of exogenous variable and endogenous variable.
制度变迁的产生是外生变量和内生变量共同作用的结果。
An exogenous variable is a variable that is not explained by the model but rather is taken as given.
外生变量是模型本身不予以解释而是当成已知的变量。
Neoclassic economy growth theory regards technology advancement as exogenous variable, fails to explain comprehensively the cause of economy growth.
新古典增长理论将技术进步看作外生变量，无法全面解释经济增长的动因。
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