El papel de las ideas en la calidad de las instituciones

2021 ◽  
pp. 13-55
Author(s):  
Martin Krause
Keyword(s):  
Institutional Change ◽  
Institutional Quality ◽  
Jel Classification ◽  
Standard Of Living ◽  
Per Capita Gdp ◽  
Positive Effects ◽  
Per Capita ◽  
Better Than ◽  
Previous Subject

The relevance of institutional quality to progress has been widely accepted in academia where we can find a growing number of studies focusing on the positive effects a better quality generates. Some of these effects include a higher per capita GDP, a larger volume of investments and innovation, better environmental quality and a higher standard of living. Nevertheless, the present article, aims at considering a logically previous subject, which is not just the consequences of good institutions but its causes. Particularly, we try to respond to the following question: If institutional quality is so important for progress in society, what determines that some have achieved a better than others? The search for an answer will lead us to consider the role of ideas in the institutions that evolve in specific societies. Key words: Institutions, Ideas, Institutional Change, Origin of Institutions, Theories on Institutional Change. JEL Classification: P51, P52.

scholarly journals Fiscal Policy, Institutions, and Economic Growth in Asian Countries: Evidence from Pedroni’s Cointegration Approach

2020 ◽  
Author(s):  
Hussin Abdullah ◽  
Muzafar Shah Habibullah ◽  
Ahmad Zubaidi BAHARUMSHAH
Keyword(s):  
Economic Growth ◽  
Fiscal Policy ◽  
Government Expenditure ◽  
Jel Classification ◽  
Per Capita Gdp ◽  
The Real ◽  
Long Run ◽  
Asian Economies ◽  
Per Capita

This paper investigates the relationship between fiscal policy, institutions, and economic growth and also the role of the institution in Asian economies between 1982 and 2001 through the application of Pedroni’s Cointegration approach. It examined two different channels through which fiscal policy and institutions can affect long-run economic growth in Asian economies. The first channel is when aggregate of government expenditure, aggregate of other fiscal variables, and the institution affect the real per capita Gross Domestic Production (GDP) and the second channel is to determine the role of institutions on the real per capita GDP. The Pedroni Cointegration result established a long-run relationship between fiscal policy, institution, and economic growth. We found a positive and statistically significant impact of aggregate of government expenditure and aggregate of other fiscal variables and institution on real per capita GDP. We also found that there is a role of institutions on the real per capita GDP. JEL Classification: C23, H30, H50, O47  

scholarly journals Standard of living, quality of life and per capita GDP: a South African experience

2013 ◽  
Vol 11 (1) ◽  
pp. 882-889 ◽  
Author(s):  
Raphael Tabani Mpofu
Keyword(s):  
Quality Of Life ◽  
South Africa ◽  
Human Development ◽  
Government Spending ◽  
Government Expenditure ◽  
Standard Of Living ◽  
Role Of Government ◽  
Per Capita

This study looked at the phenomenon of the quality of life (QoL) as measured by the Human Development Index (HDI), which is a composite statistic used to rank countries by the level of “human development”. Measuring and determining what is QoL is not an easy task. In this study, using HDI as the yardstick for QoL, the concepts of standard of living and per capita income were examined closely in relation to the role of government in its public expenditure programmes and how these programmes in turn influenced QoL. This research question was seen as the key to addressing the phenomenon of QoL. In particular, the role of government expenditure on health and education seems to signify the commitment of a government in improving the HDI or QoL. Using data on government expenditure of South Africa for the period 1995 to 2011, the relationships amongst these variables were examined. The findings indicate that there seems to be a significant correlation between HDI and government spending on health and education as a percentage of GDP, but there seems to be of no significance to include the variable government spending on health and education as a percentage of total government spending. The findings tell us that between 1995 and 2011, government spending on education as a percentage of GDP has had a positive impact on HDI. However, government spending on health as a percentage of GDP has had a retarding effect as shown by the negative coefficient of variation. It then implies that for South Africa to realize the MDG goals and improve on the HDI, public spending on health as a percentage of GDP needs to be significantly increased.

scholarly journals Impact of Public Debt on the Economic Growth of Pakistan.

2011 ◽  
Vol 50 (4II) ◽  
pp. 599-615 ◽  
Author(s):  
Naeem Akram
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Negative Relationship ◽  
Private Investment ◽  
Crowding Out ◽  
Per Capita Gdp ◽  
Debt Overhang ◽  
Positive Effects ◽  
Domestic Debt ◽  
Per Capita

Over the years Pakistan has failed to collect enough revenues for financing of its budget. Consequently, the problem of twin deficits emerged and to finance the developmental activities government has to rely on public external and domestic debt. The positive effects of public debt relate to the fact that in resource-starved economies debt financing if done properly leads to higher growth and adds to their capacity to service and repay public debt. The negative effects work through two main channels—i.e., ―Debt Overhang‖ and ―Crowding Out‖ effects. The present study examines the consequences of public debt for economic growth and investment in Pakistan for the period 1972-2009. It develops a hybrid model that explicitly incorporates the role of public debt in growth equations. As the some variables are I (1) and other are I (0) so Autoregressive Distributed Lag(ARDL) technique has been applied to estimate the model. Study finds that public external debt has negative relationship with per capita GDP and investment confirming the existence of ―Debt Overhang effect‖. However, due to insignificant relationships of debt servicing with investment and per capita GDP, the existence of the crowding out hypothesis could not be confirmed. Similarly, domestic debt has a negative relationship with investment and per capita GDP. In other words, it seems to have crowded out private investment. JEL classification: H63, O43, E22, C22 Keywords: Public Debt, Economic Growth, Investment, ARDL

scholarly journals Impact of Economic Growth Per Capita and Foreign Direct Investment on Income Inequality in Indonesia

2018 ◽  
Vol 73 ◽  
pp. 10013
Author(s):  
Suryahani Irma ◽  
Susilowati Indah ◽  
S. B. M. Nugroho
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Income Inequality ◽  
Linear Regression ◽  
Direct Investment ◽  
Positive Influence ◽  
The Philippines ◽  
Per Capita ◽  
Better Than

Income inequality is an important issue in Indonesia. Currently the income inequality in Indonesia is worse than in Thailand, Vietnam, Cambodia and Laos, although it is better than the Philippines and China. This study aimed to analyze the influence of economic growth per capita and foreign direct investment on income inequality in Indonesia.The study period was from 2007 to 2016. This study used a multiple linear regression. The results showed that economic growth per capita and foreign direct investmenthad positive influence onincome inequality. Therefore, the role of economic growth per capita and foreign direct investment will remain high in the future.

scholarly journals Dynamics and Stagnation in the Malthusian Epoch

2011 ◽  
Vol 101 (5) ◽  
pp. 2003-2041 ◽  
Author(s):  
Quamrul Ashraf ◽  
Oded Galor
Keyword(s):  
Population Density ◽  
Standard Of Living ◽  
Technological Advancement ◽  
Land Productivity ◽  
Technological Environment ◽  
Positive Effects ◽  
Time Period ◽  
Central Hypothesis ◽  
Per Capita ◽  
Cross Country

This paper examines the central hypothesis of the influential Malthusian theory, according to which improvements in the technological environment during the preindustrial era had generated only temporary gains in income per capita, eventually leading to a larger, but not significantly richer, population. Exploiting exogenous sources of cross-country variations in land productivity and the level of technological advancement, the analysis demonstrates that, in accordance with the theory, technological superiority and higher land productivity had significant positive effects on population density but insignificant effects on the standard of living, during the time period 1–1500 CE. (JEL N10, N30, N50, O10, O40, O50)

The Role of International Technology Spillovers in the Economic Growth of the OECD Countries

2004 ◽  
Vol 4 (2) ◽  
pp. 1850021 ◽  
Author(s):  
Jorge Crespo ◽  
Carmela Martín ◽  
Francisco J Velázquez
Keyword(s):  
Economic Growth ◽  
Capital Stock ◽  
Oecd Countries ◽  
Technology Spillovers ◽  
Predominant Role ◽  
Per Capita Gdp ◽  
Per Capita ◽  
International Knowledge ◽  
Gdp Gap

This paper explores the role of imports as a mechanism of transmission of international technology spillovers and its significance for the growth of the OECD countries. For this purpose we estimate a version of the growth model proposed by Benhabib and Spiegel (1994), which includes two main modifications in order to better specify the nature of international knowledge diffusion. The first is the inclusion of the R&D capital stock into this framework. The second consist of using a direct measurement of international technology spillovers instead of using per capita GDP gap in respect to the leader country as approach to it. Our results reveal that international technology spillovers transmitted through imports have had a favourable influence on the economic growth of the OECD countries. However, they show the predominant role of the domestic human and R&D capital endowments in economic growth.

scholarly journals Productivity and per capita GDP growth: The role of the forgotten factors

2011 ◽  
Vol 28 (3) ◽  
pp. 1219-1225 ◽  
Author(s):  
Luigi Marattin ◽  
Simone Salotti
Keyword(s):  
Gdp Growth ◽  
Per Capita Gdp ◽  
Per Capita

scholarly journals Corruption, Political Stability and Economic Growth

2016 ◽  
Vol 55 (4I-II) ◽  
pp. 689-702 ◽  
Author(s):  
Ghulam Shabbir ◽  
Mumtaz Anwar ◽  
Shahid Adil
Keyword(s):  
Economic Growth ◽  
Institutional Quality ◽  
Political Stability ◽  
Jel Classification ◽  
Conditional Cooperation ◽  
Positive Role ◽  
Muslim Countries ◽  
The Social ◽  
Political Turmoil

This paper gives insight of the role of political stability in investigating the two competing hypotheses in Developing Eight Muslim countries, and also investigates whether conditional liaison between corruption and political stability matters or not. The empirical findings indicate that investment, population and political stability play positive role in promoting economic growth. Corruption not only impact growth but also influenced by the institutional quality that a nation experiences. Corruption acts as sands in the wheels in the nations having higher degree of political stability, and greases the wheels in less politically stable countries such as Nigeria and Pakistan. Thus, political stability is conducive to growth, as it reduces the social unrests, political turmoil, and encourages investment, and there by economic growth. JEL Classification: C30, D73, O43, P48 Keywords: Corruption, Economic Growth, Political Stability, Conditional Cooperation

scholarly journals Democratic Institutions and Variability of Economic Growth in Pakistan: Some Evidence from the Time-series Analysis

2009 ◽  
Vol 48 (3) ◽  
pp. 269-289 ◽  
Author(s):  
Muhammad Zakaria ◽  
Bashir Ahmed Fida
Keyword(s):  
Time Series ◽  
Jel Classification ◽  
Output Growth ◽  
Empirical Literature ◽  
Growth Time ◽  
Growth Equation ◽  
Per Capita ◽  
Using Data ◽  
Capita Output

This paper explores the empirical association between democracy and per capita output growth in Pakistan using data for the period 1947 to 2006. The findings of the paper indicate a weak negative association between democracy and output growth. Consistent with some current empirical literature, democracy is also found to influence output growth indirectly. The empirical results are robust to different democracy variables and output growth equation specifications. The empirical findings also highlight the role of other variables in determining output growth and, except for rising oil prices, show its positive linkage to physical and human capital, government consumption, openness of trade practices and inflation. JEL classification: C22, O43 Keywords: Democracy, Growth, Time-series

scholarly journals Is There Cross-Country Income Convergence Among the BRICS Nations? An Examination

2019 ◽  
Vol 11 (1-2) ◽  
pp. 121-135
Author(s):  
Ramesh Chandra Das
Keyword(s):  
Steady State ◽  
Direct Investment ◽  
Poor Country ◽  
Jel Classification ◽  
Income Convergence ◽  
Working Population ◽  
Capita Gross Domestic Product ◽  
Per Capita Gdp ◽  
Per Capita ◽  
Cross Country

Narrowing the developmental gaps of a relatively poor country with a relatively rich one is one of the priorities to the policymakers of the former. One way to reduce the developmental gaps is making different countries in a group to converge to a single steady-state value. Under this background, this study aims to examine whether the BRICS nations are converging in per capita GDP for the period 1990–2016. Applying the neoclassical methodology of β convergence and σ convergence, the study observes that the countries are not unconditionally β converging but converging in conditional terms with the variables such as foreign direct investment (FDI) flow and working population acting as the deciding factor. Furthermore, the study shows that the countries are converging in σ definition meaning the cross-country dispersion in per capita gross domestic product (GDP) has fallen significantly. Hence, formation of BRICS has made the countries relatively better off compared to pre-BRICS phase. JEL Classification: E01, O4, J21

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