Institutional governance and quality of life: evidence from developing countries

Md. Golam Kibria () and M. M. K. Toufique ()
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Md. Golam Kibria: Noakhali Science and Technology University
M. M. K. Toufique: Noakhali Science and Technology University

SN Business & Economics, 2023, vol. 3, issue 3, 1-20

Abstract: Abstract This paper fills a significant literature gap by examining the nexus between institutional governance and quality of life. We construct a panel data set of 21 developing countries and use the methods of linear and nonlinear autoregressive distributed lag models (ARDL). To measure the level of institutional quality, we use the World Governance Indicators developed by Kaufmann D, Kraay A, Mastruzzi M (World Bank Policy Research Working Paper, 2010). The worldwide governance indicators methodology and analytical issues. World Bank Policy Research Working Paper 5430. The results of the linear model show that improvements in indicators of institutional quality such as voice and accountability, quality of regulation and rule of law have a positive long-term impact on quality of life. In addition, the findings of the non-linear ARDL model show that positive shocks in the areas of voice and accountability, political stability, government effectiveness, regulatory quality, control of corruption and rule of law have a significant positive influence on long-term quality of life. In contrast, negative fluctuations in institutional quality indices, with the exception of voice and accountability and rule of law, have quality of life implications.

Keywords: Quality of life; Institutional governance; Panel non-linear ARDL model (search for similar items in EconPapers)
JEL-codes: K00 O15 Q53 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s43546-023-00458-9

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