The impact of institutional quality on economic growth
Evidence from post-soviet countries
Bibliographic Data
| ID | 13023780 |
|---|---|
| Authors | Ilkin Gasimov (0000-0003-1388-7571, Baku Engineering University, corresponding author), Gadir Asgarzade (0000-0003-2634-7822, Azerbaijan State University of Economics), Farid Jabiyev (0000-0002-6675-0264, Baku Engineering University) |
| Year | 2023 |
| Volume | 16 |
| Issue | 1 |
| Pages | 71-82 |
| Publication date | 2023-01-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | JOURNAL OF INTERNATIONAL STUDIES (JOURNAL) |
| Journal identifiers | ISSN: 2071-8330 • E-ISSN: 2306-3483 |
| Publisher | Centre of Sociological Research, NGO (PUBLISHER) |
| DOI | 10.14254/2071-8330.2023/16-1/5 |
| OpenAlex | W4377007698 |
| Language | EN |
| Citations received | 4 |
| References cited | 56 |
The paper investigates the long-run impact of the institutional environment on economic growth for the sample of post-Soviet countries in 1996-2021. Using the Autoregressive Distributive Lag Model, we found that a U-shaped link exists between institutional quality and economic growth. Regarding the institutional quality dimensions, a similar link was observed for four out of six factors (POLSTAB, GOVEFF, RULELAW, CONTCORR). In contrast, the other two dimensions (REGQUAL, VOACC) exhibited inverted U-shaped impact on the dependent variable. Moreover, findings provide insight into the impact of control variables such as inflation (INF), openness (OPE), and population growth rate (POPGROWTH) on economic growth. More precisely, openness was found to have positive impact on the dependent variable, while inflation and population growth rate both had negative effect on economic growth. Based on these results, the paper suggests some policy implications for post-Soviet countries in terms of achieving economic growth by improving the institutional quality environment
Control variable · Demographic economics · Development economics · Distributed lag · Econometrics · Economics · Inflation (cosmology · Macroeconomics · Monetary economics · Openness to experience · Population · Population growth · Quality (philosophy · Statistics · Economic Growth and Development · Energy, Environment, Economic Growth · Fiscal Policy and Economic Growth · Mathematics · Demography
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| Citations per year | 1.33 |
|---|---|
| Citation span | 2023 - 2026 (4) |
| Highly cited | No |