scholarly journals Why regions fail (or succeed). The Role of Government Institutions in the Long-Run

2019 ◽  
Vol 8 (2) ◽  
pp. 114-144
Author(s):  
Filippo Bonanno
Keyword(s):  
European Union ◽  
Low Income ◽  
The European Union ◽  
Role Of Government ◽  
Income Per Capita ◽  
Government Institutions ◽  
Long Run ◽  
Quality Of Institutions ◽  
Per Capita

This paper represents an attempt to reconcile some general intuitions provided by Daron Acemoglu and James A. Robinson in the book “Why Nations Fail” with the case of the deep regional disparities in the economic performances observed within the “Western” European Union during the period 2001-2015. By adopting an approach to growth analysis based on binary response models, this paper quantifies the extent to which the quality of government institutions has shaped regional economic performances in the European Union throughout the period comprising the Great Recession. Empirical results show that: 1) The higher is the quality of institutions, the higher is the probability that a region with high income per capita will grow above the levels of the European Union as a whole. 2) The higher is the quality of institutions, the lower is the probability that a low-income region will grow below the levels of European Union as a whole. 3) The higher is the quality of institutions, the higher (lower) is the probability that any region, regardless of its income per capita, will outperform (underperform) the European Union as a whole. 4) The higher is the quality of Institutions, the lower is the probability that a region will “fail” to grow.

Sustaining Long-Run Growth and Macroeconomic Stability in Low-Income Countries—The Role of Structural Transformation and Diversification

Policy Papers ◽  
2014 ◽  
Vol 2014 (38) ◽  
Author(s):  
Keyword(s):  
Structural Transformation ◽  
Low Income ◽  
Low Income Countries ◽  
Macroeconomic Performance ◽  
Export Structure ◽  
Long Run ◽  
Trading Partners ◽  
Per Capita

Diversification and structural transformation play important roles in influencing the macroeconomic performance of low-income countries (LICs). Increases in income per capita at early stages of development are typically accompanied by a transformation in a country’s production and export structure. This can include diversification into new products and trading partners as well as increases in the quality of existing products.

scholarly journals Eco-innovation and Economic Growth in the European Union

2019 ◽  
Vol 22 (2) ◽  
pp. 43-54
Author(s):  
Ana Andabaka ◽  
Martina Basarac Sertić ◽  
Martina Harc
Keyword(s):  
European Union ◽  
Sustainable Growth ◽  
Recycling Rate ◽  
Gdp Growth ◽  
The European Union ◽  
Green Technologies ◽  
Gdp Growth Rate ◽  
Quality Of Institutions ◽  
To Come

Abstract Eco-innovation, as a new concept, and green technologies are central to the Europe’s future and at the core of the European Union policies to boost competitiveness, create jobs, and generate sustainable growth for years to come. In this context, eco-innovation is a significant tool that combines decreased environmental impact with a positive socioeconomic impact. This paper highlights the prominent role of eco-innovation and investigates still scarcely explored impact assessment of GDP growth, quality of institutions, and recycling rates on the eco-innovation index in the 28 European Union member states. Specifically, the set of regression analyses that use panel estimation models was undertaken and the system GMM estimator with robust standard errors was used. Econometric analysis indicates that GDP growth rate, quality of institutions, and recycling rate of municipal waste had a statistically significant and positive effect on eco-innovation in the period 2010-2016.

scholarly journals Impact of Corporate Governance Framework on Economic Performance in European Union

2018 ◽  
Vol 11 (40) ◽  
pp. 236-246
Author(s):  
Dušan Steinhauser ◽  
Miroslava Čukanová
Keyword(s):  
European Union ◽  
Corporate Governance ◽  
Gross Domestic Product ◽  
Economic Performance ◽  
Conflict Of Interest ◽  
Institutional Environment ◽  
Judicial Independence ◽  
The European Union ◽  
Per Capita

Abstract In the current post-crisis period, the implementation of Corporate Governance principles has proven to be important. The Organization of Economic Cooperation and Development considers failure of Corporate Governance as one of the causes of the latest financial and economic crisis. We assume that the higher quality of institutional environment point to higher performance of the economy. The aim of the paper is to quantify the implementation of Corporate Governance in the European Union through selected qualitative indicators and his impact on economies. We have verified that countries with better values of judicial independence, protection of property rights, corruption, minority investor protection, extent of conflict of interest and resolving insolvency have a higher value of gross domestic product per capita. The index of enforcing contracts was statistically insignificant.

Results of European Union Cohesion Policy in Terms of Quality of Life Improvement on a Regional Level (as Exemplified by Eastern Poland)

2020 ◽  
Vol 18 (1) ◽  
pp. 53-69
Author(s):  
Teresa Miś ◽  
Dariusz Zając
Keyword(s):  
Quality Of Life ◽  
European Union ◽  
Local Governments ◽  
The European Union ◽  
Cohesion Policy ◽  
Peripheral Location ◽  
Life Improvement ◽  
Per Capita ◽  
The Eu

The aim of the article is to evaluate the significance of the European Union funds supporting the cohesion policy, which the Eastern Polish local governments benefit from in order to improve their residents’ quality of life. Empirical data used in the research concerns five provinces located in Eastern Poland and the research data comes from the sources of the Polish Main Statistical Office in Warsaw. The temporal scope of the study encompasses the period 2004-2018. The choice of the spatial scope of the research is justified by the peripheral location of Eastern Poland, as well as the fact that this region benefits from the EU Programme financially supporting local government units. The article elaborates on the use of the EU funds aiming to enhance the cohesion policy performed by local governments of Eastern Poland and the residents’ opinion on the improvement of their quality of life. The research proves that the provinces of Eastern Poland are particularly qualified to gain financial funding from the European Union due to their lower level of Gross Domestic Product per capita compared to the country as a whole. According to the residents of Eastern Poland, their quality of life has improved and can be treated as comparable to the country’s average, even though slightly worse. The research confirms the elaboration’s hypothesis that the use of the EU funds by the local governments in Eastern Poland results in the increased country cohesion measured by the improvement of residents’ quality of life. This, in turn, constitutes a vital outcome of the European Union cohesion policy.

scholarly journals QUALITY OF INSTITUTIONS IN CANDIDATE AND POTENTIAL CANDIDATE COUNTRIES COMPARED TO THE NEWEST EUROPEAN MEMBERS

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Jelena Trivić
Keyword(s):  
European Union ◽  
Institutional Environment ◽  
Nobel Laureate ◽  
Potential Candidate ◽  
The European Union ◽  
Governance Indicators ◽  
Two Samples ◽  
Quality Of Institutions ◽  
World Governance Indicators

This paper deals with the quality of institutions in two samples. The first sample consists of candidates and potential candidates for membership in the European Union - Albania, Bosnia and Herzegovina, Serbia and N. Macedonia, while the second sample consists of the youngest member states of the European Union - Croatia, Bulgaria and Romania. In some of the earlier papers, as a co-author or author, I compared the countries of the region with the members of "New Europe", i.e. the countries that became members of the EU in 2004, but a glance look at the data today led me to the conclusion that the quality of the institutional environment in the region is more logical to compare with the newest EU members. Even in comparison with these countries, our region lags significantly behind. As a database for the quality of institutions, I used the World Governance Indicators developed by Kaufman et al. (2010). Institutions are defined as they were defined by Nobel laureate Douglas North and after him, a whole group of economists under the auspices of the New Institutional Economy.

scholarly journals An Empirical Analysis on the Relationship between Health Care Expenditures and Economic Growth in the European Union Countries

2018 ◽  
Vol 2 (1) ◽  
pp. 12
Author(s):  
Çiğdem Börke Tunalı ◽  
Naci Tolga Saruç
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Health Expenditure ◽  
Gdp Per Capita ◽  
The European Union ◽  
Long Run ◽  
European Union Countries ◽  
Short Run ◽  
Per Capita ◽  
The Relationship

This paper empirically investigates the relationship between health expenditure and economic growth in the European Union countries over the period 1995-2014. By using the Dumitrescu-Hurlin Test (Dumitrescu and Hurlin, 2012) which is developed to test Granger causality in panel datasets (Lopez and Weber, 2017), it is found that there is a unidirectional relationship between these variables and gross domestic product (GDP) per capita Granger causes health expenditure per capita. After determining the direction of the relationship between health expenditure per capita and GDP per capita we estimate the short run and the long run effects of GDP per capita on health expenditure per capita by using Mean Group (MG) and Pooled Mean Group (PMG) estimators which are developed by Pesaran and Smith (1995) and Pesaran, Shin and Smith (1999) respectively. According to the estimation results, GDP per capita has a positive effect on health expenditure per capita both in the short run and the long run.

scholarly journals Recent dynamics in the Portuguese housing market as compared with the European Union

2012 ◽  
Vol 18 (18) ◽  
pp. 69-84 ◽  
Author(s):  
Fátima Loureiro De Matos
Keyword(s):  
European Union ◽  
Housing Market ◽  
Low Income ◽  
Environmental Sustainability ◽  
House Prices ◽  
Housing Instability ◽  
The European Union ◽  
Current Crisis ◽  
Demand And Supply

Abstract.The closing years of the 20th century witnessed profound changes in the European housing market, characterised by an increase in owner-occupied housing; instability of house prices (leading to a serious crisis in some regions, in light of a fall in demand); a change in people’s attitude to the housing market, involving a rise in the importance of location, the quality of materials and spaces, environmental sustainability, and architectural and urban innovation.The European Union does not have a common housing policy, which it believes is the responsibility of Member-States. However, it is recognised that the problems related to the socio-urban inclusion of low-income individuals do have an impact on Community policies.Because we are in the midst of a transformation, it is difficult to talk today about the dynamics and policies of housing, the functioning of markets, and thereby about the ways in which public administrations are facing the current crisis of real estate overproduction.This article aims at analysing the dynamics of the housing market in Portugal as compared with other European countries, highlighting the characteristics of demand and supply and the main changes recorded in the last few years.

scholarly journals An Empirical Analysis on the Relationship between Health Care Expenditures and Economic Growth in the European Union Countries

2021 ◽  
Vol 4 (2) ◽  
pp. 11
Author(s):  
Çiğdem Börke Tunalı ◽  
Naci Tolga Saruç
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Health Expenditure ◽  
Gdp Per Capita ◽  
The European Union ◽  
Long Run ◽  
European Union Countries ◽  
Short Run ◽  
Per Capita ◽  
The Relationship

This paper empirically investigates the relationship between health expenditure and economic growth in the European Union countries over the period 1995-2014. By using the Dumitrescu-Hurlin Test (Dumitrescu and Hurlin, 2012) which is developed to test Granger causality in panel datasets (Lopez and Weber, 2017), it is found that there is a unidirectional relationship between these variables and gross domestic product (GDP) per capita Granger causes health expenditure per capita. After determining the direction of the relationship between health expenditure per capita and GDP per capita we estimate the short run and the long run effects of GDP per capita on health expenditure per capita by using Mean Group (MG) and Pooled Mean Group (PMG) estimators which are developed by Pesaran and Smith (1995) and Pesaran, Shin and Smith (1999) respectively. According to the estimation results, GDP per capita has a positive effect on health expenditure per capita both in the short run and the long run.

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