scholarly journals The interdependence between political institutions and economic growth

2021 ◽  
pp. 13-41
Author(s):  
Roman Parma
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Social Development ◽  
Political Institutions ◽  
Free Market ◽  
Authoritarian Regimes ◽  
Dominant Position ◽  
Civic Values ◽  
Liberal Ideology ◽  
Alternative Position

The article concerns on the correlations between the changes in political institutions and the dynamics of economic growth. This controversial issue is a stumbling block in extensive research due to the clash of two large theories of social development in political science: democratization and modernization. The theory of democratization is based on the primacy of civic values, while the theory of modernization gives priority to the efficiency of economic development. The author defines the conceptual positions of the researchers: “democracy promotes growth”, “democracy does not promote growth”, “growth promotes democracy”, and “growth does not promote democracy”. The dominant position “democracy promotes economic growth” is driven by the values of liberal ideology and the notion of a free market. The opposing position “democracy does not contribute to economic growth” proceeds from the weak possibilities of the established liberal order to mobilize resources for solving the state development problems. The modernization position “economic growth contributes to democracy” is dictated by the change in the value attitudes of citizens as they achieve prosperity. The alternative position “economic growth is not conducive to democracy” is supported by countries with authoritarian regimes with weak potential of development. The author comes to the conclusion about the possibilities of multivariate construction of political institutions to ensure economic growth, based on the endogenous and exogenous development factors in any countries.

Growth and Social Capital: Empirical Analysis of the Relationship

2019 ◽  
pp. 128-134
Author(s):  
Ksenia V. Bagmet
Keyword(s):  
Economic Growth ◽  
Social Capital ◽  
Economic Development ◽  
Social Development ◽  
Empirical Analysis ◽  
Panel Data Analysis ◽  
Well Being ◽  
Developed Countries ◽  
International Institute ◽  
Level Of Economic Development

The article provides an empirical test of the hypothesis of the influence of the level of economic development of the country on the level of development of its social capital based on panel data analysis. In this study, the Indices of Social Development elaborated by the International Institute of Social Studies under World Bank support are used as an indicators of social capital development as they best meet the requirements for complexity (include six integrated indicators of Civic Activism, Clubs and Associations, Intergroup Cohesion, Interpersonal Safety and Trust, Gender Equality, Inclusion of Minorities), comprehensiveness of measurement, sustainability. In order to provide an empirical analysis, we built a panel that includes data for 20 countries divided into four groups according to the level of economic development. The first G7 countries (France, Germany, Italy, United Kingdom); the second group is the economically developed countries, EU members and Turkey, the third group is the new EU member states (Estonia, Latvia, Lithuania, Romania); to the fourth group – post-Soviet republics (Armenia, Georgia, Russian Federation, Ukraine). The analysis shows that the parameters of economic development of countries cannot be completely excluded from the determinants of social capital. Indicators show that the slowdown in economic growth leads to greater cohesion among people in communities, social control over the efficiency of distribution and use of funds, and enforcement of property rights. The level of tolerance to racial diversity and the likelihood of negative externalities will depend on the change in the rate of economic growth. Also, increasing the well-being of people will have a positive impact on the level of citizens’ personal safety, reducing the level of crime, increasing trust. Key words: social capital, economic growth, determinant, indice of social development.

scholarly journals Authoritarian Regimes and Economic Development: An Empirical Reflection

2016 ◽  
Vol 55 (4I-II) ◽  
pp. 657-673
Author(s):  
Karim Khan ◽  
Saima Batool ◽  
Anwar Shah
Keyword(s):  
Economic Development ◽  
Human Development ◽  
Political Institutions ◽  
Human Development Index ◽  
Jel Classification ◽  
Authoritarian Regimes ◽  
Development Index ◽  
Alternative Measures ◽  
Cross Country ◽  
The Impact

Since the recent emphasis on institutions for overall economic development of the countries, the research in this strand has expanded enormously. In this study, we want to see the impact of political institutions on economic development in pure cross-country setting. We take the Human Development Index (HDI) as a measure of economic development and use two alternative measures of dictatorship. We find that dictatorship is adversely affecting economic development in our sample of 92 countries. For instance, transition from extreme dictatorship to ideal democracy would increase HDI by 17 percent. Moreover, our results are robust to alternative specifications and the problems of endogeneity and reverse causation as is shown by the results of 2 Stages Least Squares (2SLS). JEL Classification: P16, H11, H41, H42 Keywords: Economic Development, Human Development Index, Dictatorship

scholarly journals Sustainable Marine Economic Development in Vietnam in the Period 2011-2018

2019 ◽  
Vol 6 (6) ◽  
pp. 140
Author(s):  
Hoang Ngoc Phong ◽  
Nguyen Cong My ◽  
Bùi Thị Thanh Hoa ◽  
Lê Bich Ngoc
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Social Development ◽  
Environmental Protection ◽  
Structural Model ◽  
Growth Efficiency ◽  
Structural Equations ◽  
Result Show ◽  
Protection Goals ◽  
Development Goals

This work is to test the hypothesis of sustainable economic development by using a linear structural model. The structural equations in the structural model show that, the social development goals depend on economic growth and environmental protection goals, namely (Social target) = 1.22 * (Economic target) - 0.064 * (Environment target) and economic  development target depend on social development goals and environmental protection goals, namely (Economy target) = 1.35 * (Social target) - 0.039 * (Environment target). The result show that both economic and social development have an adverse environmental impact that will no longer harmonize goals, reflecting the unsustainable marine economic development in the period of 2011-2018. There have many factors of unsustainable marine economic development in period 2011-2018, but mainly is low economic growth efficiency, low labor productivity and  the process of urbanization does not truly create a foundation for economic development.

“MENINGKATKAN DAYA SAING SEKTOR RIEL DI ERA MASYARAKAT EKONOMI ASEAN”

2016 ◽  
Vol 16 (2) ◽  
pp. 275
Author(s):  
Matdio Siahaan
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Free Market ◽  
Government Policies ◽  
Real Sector ◽  
Economic Policies ◽  
Economic Community ◽  
International Exhibitions ◽  
Asean Economic Community ◽  
Domestic Products

ABSTRACTThis study aims how to the state and the development of Indonesia to level up the Competition in Asean Economic Community (AEC) of the real sector, of a free market in Southeast Asia which aims to stabilize the economies of member countries of Asean. Hopefully, by the MEA can overcome the problems in the economy in Indonesia.. This is indicated by the economic development of Indonesia in ASEAN is still below the rank of other states member.The Indonesian strategy prepared to facing the ASEAN Economic Community (AEC), among others, to harmonizedomestic economic policies that associated with the systems and rules of the ASEAN ,Development investment and economic growth through government policies City and Country of one of them by strengthening the UKM products to foster through packaging, registration of the mark, and improve competitiveness domestic products and facilitate UKMs in international exhibitions so that the products can be known globally UKMs.

scholarly journals Foreign Direct Investment (FDI), Government Reform, and Their Role in Economic Development and the Rise of the Middle Classes in East and Southeast Asia

2020 ◽  
Vol 4 (1) ◽  
pp. 25
Author(s):  
Sajjad Kaveh ◽  
Hadi Noori ◽  
Arya Shafeghat Roodsari ◽  
Shukoofeh Goodarzinezhad
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Free Market ◽  
Southeast Asian ◽  
Political Factors ◽  
Middle Classes ◽  
East And Southeast Asia ◽  
Government Reforms

Since the 1990s, East and Southeast Asian countries have experienced significant economic growth, leading to the expansion of the middle classes. Some scholars have attributed this economic development to cultural and political factors such as technocrat leaders, ethnic tolerance, or even Confucianism. Other researchers have only mentioned economic variables, such as free market, regional unions, and export-oriented policies. This paper does not rule out the role of these factors in the economic development of those regions, and by using a combined approach based on recent data, the authors argue that attracting foreign direct investment (FDI) and government reforms have been the most important factors influencing economic growth as well as the significant expansion of the middle classes in East and Southeast Asian societies.

scholarly journals Assessment of Socio-Economic Development Forecast for the Russian Federation in 2019–2024

2018 ◽  
Vol 22 (6) ◽  
pp. 153-156
Author(s):  
Artiсle Editorial
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Social Development ◽  
Russian Federation ◽  
Socioeconomic Development ◽  
Science And Technology ◽  
Expert Group ◽  
Strategic Objectives ◽  
Socio Economic Development ◽  
The Russian Federation

This paper presents the conclusion of the Financial university expert group on the socio-economic development forecast for the Russian Federation in 2019–2024 (developed by the Ministry of Economic Development of Russia). The forecast has been evaluated according to the task set in the Decree of the President of the Russian Federation on May 7, 2018 No. 204 “On National Goals and Strategic Objectives of the Russian Federation through to 2024”, regarding achievement breakthroughs in science and technology and socioeconomic development in the Russian Federation. Special attention has been paid to the analysis of forecasted rates and projected sources of economic growth and prospects for social development. According to the analysis, it has been concluded that the proposed forecast indicators are not adequate to the task of “achievement breakthroughs in science and technology and socioeconomic development in the Russian Federation”, provided by the Decree of the President of Russia of May 7, 2018, No. 204.

Globalization, Trade Competitiveness, and Economic Development

2018 ◽  
pp. 207-218
Author(s):  
Ramakrushna Panigrahi
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Economic Efficiency ◽  
Global Economy ◽  
Free Market ◽  
Economic Environment ◽  
Development Indicators ◽  
Economic Progress ◽  
Trade Competitiveness ◽  
Globalized World

Competitiveness has assumed centrality in the debate of globalization and economic growth. In a free market economic environment, economic efficiency assumes importance to fuel international business and economic growth. In a globalized contemporary economic environment, most countries have espoused economic development models based on Washington consensus to achieve faster growth during last three decades. In 1991, India had liberalized its economy to join the globalized world to reap the benefits of a free trade environment. From a very modest economic background, India has taken the center-stage of global economy due to its sustained economic growth rate and achievements in economic development indicators in the post liberalization era. In its perusal of economic growth, India has achieved significant economic progress based on competitiveness and economic efficiency. This paper attempts to analyze the challenges of sustaining trade competitiveness and economic growth from Indian perspective in the wake of renewed concerns on sustainability issues in a competitive globalized environment.

scholarly journals Beplanning van toekomstige ekonomiese ontwikkeling met besondere verwysing na kapitaalvorming, monetere beleid en werkgeleentheidskepping

1980 ◽  
Vol 11 (1) ◽  
pp. 9-15
Author(s):  
Simon S. Brand
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Economic Development ◽  
Free Market ◽  
Market Mechanism ◽  
Centralized Control ◽  
Economic Activities ◽  
Product Price ◽  
Future Economic Development ◽  
Economic Development Programme

Planning future economic development with special reference to capital formation, monetary policy and the creation of job opportunities. Planning is discussed as centralized control of the rate and the direction of economic growth. Although such total central control does not exist, and is not pursued in South Africa, and the role of the free market mechanism is increasingly recognized, a certain degree of government participation in the country's economy is inevitable, particularly to help to realize the evolving national strategy. Short term objectives of economic policy focus on satisfactory growth in gross domestic product, price stability and external balance, while long term objectives aim at maintaining economic growth, employment opportunity, acceptable distribution of income, geographic spread of economic activities, adequate provision of collective goods and services and protection against external economic threat. Due to increasing unemployment creation of jobs is particularly important as a consideration for investment by both the private and public sectors. Three simulations done for the latest economic development programme for South Africa for the period 1978- 1987 and the implications of different outcomes are discussed. Even if the most favourable forecast applies, an unacceptably high unemployment rate can still be expected.Beplanning word bespreek as gesentraliseerde beheer van die koers en die rigting van ekonomiese groei. Alhoewel sodanige volkome sentrale beheer nie in Suid-Afrika bestaan of nagestreef word nie en nuwe klem val op die rol van die vrye markmeganisme, is 'n sekere mate van owerheidsdeelname in die landsekonomie onvermydelik, veral ook om die ontplooiende nasionale strategie te help verwesenlik. Doelwitte in ekonomiese beleid is op die korttermyn gerig op 'n bevredigende groeikoers in die bruto binnelandse produk, prysstabiliteit en eksterne ewewig, terwyl langtermyndoelstellings klem plaas op handhawing van ekonomiese groeikoers, werkvoorsiening, aanvaarbare verdeling van inkome, geografiese verspreiding van ekonomiese bedrywighede, voorsiening van voldoende kollektiewegoedere en dienste en versekering teen eksterne ekonomiese bedreigings. Weens stygende werkloosheid is veral werkvoorsiening van groot belang by investering deur sowel die private as die openbare sektore. Drie simulasies wat vir die jongste ekonomiese ontwikkelingsprogram vir Suid-Afrika oor die tydperk 1978-1987 en die implikasies van verskillende uitkomste gedoen is, word bespreek. Maar selfs as die gunstigste vooruitskatting geld, kan 'n onaanvaarbaar hoe werkloosheidskoers nog verwag word.

scholarly journals From Strategic Planning to Territorial Resilience

Federalism ◽  
2020 ◽  
pp. 26-41
Author(s):  
A. V. Odintsova
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Strategic Planning ◽  
Social Development ◽  
Russian Federation ◽  
Scientific Literature ◽  
The World ◽  
Socio Economic Development ◽  
The Russian Federation ◽  
Territorial Strategies

The adoption of the Strategy for the Spatial Development of the Russian Federation marked a new stage in the development of the practice of territorial strategizing. However, the lack of terminological clarity is one of the factors limiting the potential of this institution. Thus, the sustainability of socio-economic development, which is somehow present as the main goal in most territorial strategies, raises a number of questions. Taking into account the accumulated domestic and world experience, there are several interpretations of this concept: sustainability as stable rates of economic growth; sustainability as a concept developed at the UNO, requiring a balanced account of the environmental, social and economic components of social development; resistance to counteraction to various challenges and shocks. This article attempts to outline the main problems that arise due to the lack of clarity in the “dilution” of these concepts. In the world scientific literature and practice, the territorial potential for resilience to disasters has long been described by the concept of “resilience”, the content of which is considered in the paper.

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