First everything is more or less endogenized to something else. In your case, shouldn't that be equally likely that instituions have more or less determined the development of technology? For example, some institutional design may simply rule out the application of newest technology. So your assumption that technological advances necesarily result in regime change in terms of insituions is problematic. In shor, high level correlation may be find emprically, however, that may or may not a reflection of your proposed causal mechanism. Second, I am curious about how to measure the so-called technological development. I just can't imagine a way emprically.