The Impact of Institutional Governance on Economic Growth: A Panel Data Analysis
Hafiz Muhammad Abubakar Siddique,
Ahmad Nawaz () and
Muhammad Majeed ()
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Hafiz Muhammad Abubakar Siddique: Federal Urdu University of Arts, Science and Technology, Islamabad, Pakistan
Bulletin of Business and Economics (BBE), 2016, vol. 5, issue 4, 210-219
This study is an attempt to analyse the nexus between institutional governance and economic growth for the panel of 91 countries over 1999-2014, using Random Effect Model and System GMM. We have examined the direct impact of governance by index of institutional governance. In addition, our analysis includes complementary role of institutions through the channel of population which is calculated by interaction variable of population and governance index. The results indicate that institutional governance has direct and significant impact on economic growth for selected panel of countries. Moreover, it has also indirect impact on economic growth through the channel of population; as direct impact of population is found to be negative and significant, whereas when institutional governance interacts with the population, sign turns positive and significant.
Keywords: Institutional Governance; Economic Growth; Random Effect Model; System GMM (search for similar items in EconPapers)
JEL-codes: F30 F43 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:rfh:bbejor:v:5:y:2016:i:4:p:210-219
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