Institutional determinants of labor productivity in the selected regions of the European Union

Waclaw Jarmolowicz () and Slawomir Kuzmar ()
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Waclaw Jarmolowicz: WSB Schools of Banking
Slawomir Kuzmar: Poznan University of Economics

Ekonomia i Prawo, 2015, vol. 14, issue 4, 459-478

Abstract: Facing the growing importance of institutions as a vital, or according to some, even a key determinant of economic growth and development, the authors of this study attempt to define and determine basic relations and mechanisms by which the institutional environment affects labor productivity. In addition, an analysis of institutions diversity and labor productivity was carried out in selected regions of the European Union. The findings of the analyses prompt to draw a conclusion that “good” institutional solutions have a significant impact on the development of labor productivity also at regional level by protecting property rights, lowering transaction costs, stimulating competition and improving the efficient functioning of the market mechanism.

Keywords: formal institutions; informal institutions; labor productivity (search for similar items in EconPapers)
JEL-codes: E02 O43 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:cpn:umkeip:v:14:y:2015:i:4:p:459-478

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