External Debt, Quality of Institutions, and Economic Growth in WAEMU

2015 ◽  
pp. 124-142
Author(s):  
Jérôme Ouedraogo
Keyword(s):  
Economic Growth ◽  
External Debt ◽  
Quality Of Institutions

DETERMINANTS OF THE EXTERNAL DEBT IN TOGO: WHAT TEACHING FOR TOGO?

2017 ◽  
Vol 12 (2) ◽  
Author(s):  
Franck Essosinam Karabou
Keyword(s):  
Public Debt ◽  
External Debt ◽  
Short Term ◽  
Long Run ◽  
Quality Of Institutions

This work aims to highlight the characteristic elements of Togo's external public debt. The results after estimates, revealing the external debt as the dependent variable, indicate that, in the short term, the quality of the institutions and imports have significant effects on the external debt and the effect of the 1994 devaluation. In the long run, imports, export variation, and the quality of institutions have a significant impact on external debt and the effect of the devaluation in 1994.

Is convergence rate monotonic?

2007 ◽  
Vol 57 (3) ◽  
pp. 247-261 ◽  
Author(s):  
P. Csillik ◽  
T. Tarján
Keyword(s):  
Economic Growth ◽  
Economic Performance ◽  
Slight Modification ◽  
Quadratic Formula ◽  
The Third ◽  
The Us ◽  
Quality Of Institutions ◽  
Post War ◽  
Stock Of Knowledge

The paper aims to develop a model of nonlinear economic growth — with simple assumptions — which explains both Japan’s S -shape convergence path and the UK’s declining path toward the US between 1870–2000, and the development of other countries, as well as post-war reconstruction. According to the model, progress in stock of knowledge is formed by a quadratic formula of the relative development of follower countries.The model draws on four recent theories. Firstly, Romer’s theory, which approaches a country’s level of development by using the number of its products (Romer 1990), secondly, Jones’ idea theory with a slight modification (Jones 2004), third, the theory of quality of institutions, which determines economic performance (North 1993), and finally, the theory of physical and human capital. The first part of the paper sets up the production function, the second determines the growth rate and analyses the reconstruction path, while the third draws up model forecasts.

scholarly journals Privatisation of Socially Owned Enterprises, the Methods Used and the Impact on Economic Growth Empirical evidence from Kosovo

2021 ◽  
Author(s):  
Ujkan Bajra
Keyword(s):  
Economic Growth ◽  
Empirical Test ◽  
Social Consequences ◽  
Aggregate Level ◽  
Quality Of Institutions ◽  
Panel Effects ◽  
Communist Countries ◽  
The Impact ◽  
Determining Factor

Abstract Privatisation together with the related social consequences and impact on the economy represent key challenges facing the former communist countries. This paper aims to assess how the privatisation of socially owned enterprises (SOEs) affects economic growth, entailing an empirical test using a panel effects regression analysis on a sample of 571 SOEs (or 1,600 assets) over a 16-year period (2003–2018). We find that privatisation at the aggregate level does not boost economic growth; in particular, the methods used to privatise SOEs or parts of them are not a determining factor. We also show that the quality of institutions is fragile, confirming a negative associations with economic growth. We also show that the effects of privatisation vary according to the method used, although we note that the sale of SOEs or parts thereof in the first decade of privatisation has been quite selective, devoid of development effects and faced with serious impediments to privatisation funds being directly invested in the economy.

scholarly journals Economic growth and quality of institutions in 27 postsocialist economies

2020 ◽  
Vol 47 (4) ◽  
pp. 769-787
Author(s):  
Constantinos Alexiou ◽  
Sofoklis Vogiazas ◽  
Nikita Solovev
Keyword(s):  
Economic Growth ◽  
Panel Cointegration ◽  
Institutional Quality ◽  
Supporting Evidence ◽  
Causality Analysis ◽  
Content Type ◽  
Long Run ◽  
Quality Of Institutions ◽  
The Relationship

PurposeThe relationship between institutional quality and economic growth is revisited.Design/methodology/approachA panel cointegration methodology and causality analysis are applied to 27 postsocialist economies over the period from 1996 to 2016.FindingsUtilizing the Worldwide Governance Indicators as a means of assessing the quality of institutions, it is found that in the long run, economic growth is positively associated with the rule of law and voice and accountability. In the short run, regulatory quality retains a positive effect, but voice and accountability demonstrate a puzzling negative effect on economic growth that merits further analysis. In exploring the causal dimension of our variables, supporting evidence of the strong links between the quality of institutions and economic growth is provided, hence rendering robust results.Originality/valueTo the best of the authors’ knowledge, it is the first time that an ARDL methodological framework, which addresses potential endogeneity issues, is used to investigate the relationship between institutional quality and growth in the context of postsocialist economies.

scholarly journals Democracy and Economic Development: Disentangling the Effect of Elections and Rule of Law

2019 ◽  
Vol 9 (4) ◽  
pp. 173-205
Author(s):  
Yassine Bakkar ◽  
Ali Recayi Ögcem
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Rule Of Law ◽  
Order Effect ◽  
The Political ◽  
Economic Convergence ◽  
First Order ◽  
Quality Of Institutions ◽  
Islamic Countries

Abstract The article provides evidence on how the political settlements—rule of law and elections—would affect the economic development and enhances the economic growth. It empirically investigates whether democracy affects the economic convergence of countries through the quality of institutions: (i) electoral component of democracy, and (ii) rule of law parameters. Investigations differentiate between Islamic and non-Islamic countries. We find that the elections parameter has a first-order effect on economic development; such a relationship is not confirmed for Islamic countries. Rule of law also influences this relationship, but brings less efficient impact to the economic development. Our results are obtained using a sample of 167 countries over the 2010–2012 period.

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