The Impact of Institutional Environment on Wealth and Economic Development: Cross-Country Comparisons
DOI:
https://doi.org/10.21638/11701/spbu05.2016.303Abstract
This paper analyses hypotheses about the impact of the quality of the institutional environment for economic development and wealth. Qualitative and quantitative characteristics of that dependence are also considered in this paper.
International indices, ratings and ranking of countries according to parameters of quality of the institutional environment are used as indicators of the quality of the institutional environment. Consistency of the different rating grades are considered in this paper and an integrated index of institutional quality are produced. On the basis of this integrated index there were found correlations between institutional settings, level of welfare and economic growth.
Results show statistically significant connections between wealth and the quality of the institutional environment. Connection between the institutional environment and economic growth is more complicated. Refs 20. Figs 3. Tables 3.
Keywords:
institutions, institutional environment, the quality indexes of the institutional environment, economic growth
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References
Литература на русском языке
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Published
2016-09-30
How to Cite
Бенсон, И. Н. (2016). The Impact of Institutional Environment on Wealth and Economic Development: Cross-Country Comparisons. St Petersburg University Journal of Economic Studies, (3), 038–055. https://doi.org/10.21638/11701/spbu05.2016.303
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Global economy
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.
