Institutional Quality, Governance and Economic Growth: Evidence from Former Soviet Countries | Zendy

Ivan Shchegolev | Zendy; Arshad Hayat | Zendy

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Institutional Quality, Governance and Economic Growth: Evidence from Former Soviet Countries

Author(s) -

Ivan Shchegolev,

Arshad Hayat

Publication year - 2018

Publication title -

journal of advances in economics and finance

Language(s) - English

Resource type - Journals

eISSN - 2519-5999

pISSN - 2519-5980

DOI - 10.22606/jaef.2018.34002

Subject(s) - corporate governance , accountability , quality (philosophy) , ordinary least squares , politics , index (typography) , good governance , institutional change , economic system , panel data , economics , development economics , business , political science , public administration , finance , philosophy , epistemology , world wide web , computer science , law , econometrics

This paper focuses on the relationships between Institutional Quality, Governance and economic growth. We used World Bank data for five former Soviet Union countries and Worldwide governance index (WGI) data on institutional quality and governance, for the period 1996-2015 and applied Fully Modified Ordinary Least Squares method to investigate the impact of institutional and governance development on economic growth. We found a positive and significant effect of change of Institutional and Governance on economic growth in all the countries. The same is true for the aggregate indicator of institutional quality as well as for individual institutional quality indicators except for Voice and accountability and political stability.

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