IMPACT OF INSTITUTIONAL QUALITY AND TECHNOLOGICAL PROGRESS ON COUNTRIES ECONOMIC DEVELOPMENT

Viktoriya Todorova ()
Additional contact information
Viktoriya Todorova: South-West University “Neofit Rilski”, Blagoevgrad

Entrepreneurship, 2022, vol. 10, issue 2, 33-41

Abstract: During the last year economics literature has increasingly referred to institutions as the answers to the longstanding questions concerning how economic growth arises, what policies can be used to promote the best results in terms of economic performance and what accounts for differences in GDP levels among countries so that the analysis of the institutional framework under which any economy operates has now become an indispensable object of research. In a globalizing world economy, the cause of differences in economic growth and income inequality is explained on the basis of technological differences. The use of new technologies paves the way for the production of new cheaper goods, capital accumulation, and, in this case, increased international competitiveness of individual countries. On the one hand, this improves the quality of research institutions and, on the other, contributes to the cultural and political development of societies. Therefore, the quality of growth rates is as important as their size. This study aims to demonstrate that businesses and individuals need to use technology more efficiently, leading to cost savings and productivity gains. The main research methods used in this study are content analysis, analysis and synthesis method, intuitive and systematic approach.

Keywords: Institutional quality; Technological progress; Economic development (search for similar items in EconPapers)
JEL-codes: O10 O14 (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
https://ep.swu.bg/images/pdfarticles/2022/Entrepreneurship_2_2022-34-42.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:neo:epjour:v:10:y:2022:i:2:p:33-41

DOI: 10.37708/ep.swu.v10i2.3

Access Statistics for this article

More articles in Entrepreneurship from Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD Contact information at EDIRC.
Bibliographic data for series maintained by Vladislav Krastev ().