Institutional determinants of labor productivity in the selected regions of the European Union
Waclaw Jarmolowicz () and
Slawomir Kuzmar ()
Additional contact information
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
References: Add references at CitEc
Citations:
Downloads: (external link)
http://dx.doi.org/10.12775/EiP.2015.030 (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:cpn:umkeip:v:14:y:2015:i:4:p:459-478
Access Statistics for this article
Ekonomia i Prawo is currently edited by Barbara Polszakiewicz and Jerzy Boehlke
More articles in Ekonomia i Prawo from Uniwersytet Mikolaja Kopernika
Bibliographic data for series maintained by Miroslawa Buczynska ().