J 2020

DO INSTITUTIONS INFLUENCE ECONOMIC GROWTH?

ČERMÁKOVÁ, Klára, Pavel PROCHAZKA, Lucie KUREKOVÁ a Jiří ROTSCHEDL

Základní údaje

Originální název

DO INSTITUTIONS INFLUENCE ECONOMIC GROWTH?

Autoři

ČERMÁKOVÁ, Klára, Pavel PROCHAZKA, Lucie KUREKOVÁ a Jiří ROTSCHEDL

Vydání

PRAGUE ECONOMIC PAPERS, 2020, 1210-0455

Další údaje

Typ výsledku

Článek v odborném periodiku

Utajení

není předmětem státního či obchodního tajemství

Impakt faktor

Impact factor: 0.481

DOI

http://dx.doi.org/10.18267/j.pep.749

UT WoS

000596002700003

Příznaky

Mezinárodní význam, Recenzováno
Změněno: 25. 1. 2025 17:53, Ing. Bc. Jiří Rotschedl, Ph.D.

Anotace

Anglicky

Economic growth has been the subject of much focus throughout the history of economic thought as it has profound economic, social and political consequences. The sources of economic cycles am surrounded by intense and controversial scientific dispute. In our article. we want to contribute to the institutional economics debate by analysing selected institutional factors and testing their influence on economic growth. On a 2012-2018 dataset, we prove that soft factors such as property rights, freedom of corruption, level of freedom on different markets and other components of the Index of Economic Freedom and legal framework explain the differences in GDP per capita dynamics across countries. We present new evidence on how institutional factors determine economic growth. Unlike previously conducted studies, we use panel data and a set of general control variables in an attempt to respect causal inference. Moreover. we show that the mainstream economic conviction - more economic freedom leads to higher economic growth - fails in some cases. and regulation does not always hamper economic growth.
Zobrazeno: 16. 3. 2025 16:26