Οικονομική μεγέθυνση και θεσμική ποιότητα
Growth and institutional quality
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Keywords
Θεσμοί ; Μεγέθυνση ; ΑΕΠ ; Κράτος δικαίου ; Θεσμική ποιότηταAbstract
The aim of this research is to investigate whether the static and quantitative GDP per capita, which is the monetary value of all goods and services produced in a period, and the dynamic and qualitative economic growth, as an expression of the increase in the ability of an economy to produce goods and services over time, are significant predictors of institutional quality. Research has been concerned with investigating the relationship between GDP growth and institutions, without examining economic growth. This gap is filled by the present research. That is, it investigates the relationship between percentage growth and institutional quality. Its importance lies in the fact that it lays the groundwork for investigating the relationship between rapid growth and improvement in the quality of institutions. To investigate this relationship, cross sectional regressions and panel regressions with country fixed effects were carried out. In the cross-section, a statistically significant negative relationship with growth and a positive relationship with GDP was found. Regarding the panel regression, growth is statistically insignificant and GDP is statistically significant only at a 10% confidence interval. At the level of further research, it would be interesting to investigate further indicators for human capital such as education.