Lazarov, Darko (2013) The quality of institutions and economic growth (Panel regression analysis for sample of CEE countries in time series 1992-2007 and 2008-2011). In: Russian Summer School on Institutional Analysis, 29 Junе-5 July 2013, National research University, Higher School of Economics.
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Abstract
We have known that technological improvements, investment in physical and human capital are the main factors which determine economic growth and differences in level of income per capita among countries. But the question which economists try to answer is: why do some countries invest more than other in physical and human capital? And why are some countries so much more productive than others? Maybe the right answer to this question we should find in differences in institutional infrastructure. The main idea is that institutions and government policies determine the economic environment within which individuals accumulate skills, and firms accumulate capital and produce goods. In that context, econometric techniques have been applied on cross-country data for a sample of CEE region, just to investigate the influence of institutions on economic growth and level of income per capita before and during the global economic crisis period. However, testing the correlation and causality between institutions and growth involves the difficult issue how to measure the quality of institutions, taking in consideration that many international agencies and researchers have developed plenty of empirical indicators recently, which measure different institutional aspects.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Darko Lazarov |
| Date Deposited: | 25 Jun 2014 11:44 |
| Last Modified: | 21 Oct 2014 13:45 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/10187 |
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