SPATIAL LINKAGE BETWEEN QUALITY OF INSTITUTION, NATURAL RESOURCES MANAGEMENT WITH GDP PER CAPITA IN D8 COUNTRIES (DURBIN MODEL IN PANEL DATA)

Farzaneh Khalili (), Majid Afsharirad (), Abdolrahim HASHEMI Dizaj () and Mehdi YAZDANSHENAS Bahoghogh ()
Additional contact information
Farzaneh Khalili: Assistant Professor of Economics, Islamic Azad University, Abhar Branch (Corresponding Author)
Majid Afsharirad: Associate Professor of Economics, Faculty of Economics, Kharazmi University, Tehran, Iran
Abdolrahim HASHEMI Dizaj: Assistant Professor of Management and Economics, Mohaghegh Ardabili University
Mehdi YAZDANSHENAS Bahoghogh: Ph.D Candidate of Economics, Islamic Azad University, Abhar Branch

Regional Science Inquiry, 2021, vol. XIII, issue 2, 239-256

Abstract: Suitable economic growth has always been one of the priorities of any economic system. Meanwhile, economists have tried to achieve this goal by determining the factors affecting economic growth. At first, the main emphasis was on the physical capital and labor force, and the natural resources management. However, institutional factors, including natural resource management, emerged as a determinant of economic growth. In this regard, in this paper, the effect of institutions and management of natural economic resources on GDP per capita as a proxy for economic growth have been investigated by applying spatial regression models and Durbin model in the D8 countries during the period of 1996-2019. The empirical results of model estimation showed a positive and significant effect of natural resource management on economic growth of these countries. Moreover, the effect of physical capital, human capital, foreign investment accumulation and natural resources on economic growth is positive and significant. In addition, the effect of neighborhood and spillover impact of institutional quality on the economic growth has been confirmed in D8 countries.

Keywords: GDP Per Capita; Institutions Quality; Natural Resource Management; D8 Countries. (search for similar items in EconPapers)
JEL-codes: C23 I25 O47 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.rsijournal.eu/ARTICLES/December_2021/17.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hrs:journl:v:xiii:y:2021:i:2:p:239-256

Access Statistics for this article

Regional Science Inquiry is currently edited by Dr Christos Ap. Ladias

More articles in Regional Science Inquiry from Hellenic Association of Regional Scientists
Bibliographic data for series maintained by Dimitrios K. Kouzas ().