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The Relationship between Institutional Quality and Welfare: Panel-SUR Analysis on BRICS-T Countries

Ä°smail Åženturk and Amjad Ali
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Ä°smail Åženturk: Department of Economics, Tokat Gaziosmanpasa University, Turkey

Journal of Policy Research (JPR), 2022, vol. 8, issue 1, 45-52

Abstract: In this study, the relationship between institutional quality and welfare has been tried to be examined in BRICS-T countries. For this purpose, the World Bank Worldwide Governance Index was used as an indicator of institutional quality, and its effect on economic growth, which is an indicator of welfare, was examined for the period 2002-2020. It has been determined that there is cross-sectional dependence and heterogeneity in the slope coefficients in the panel. As a result of the panel cointegration test of Westerlund and Edgerton (2007), it has been concluded that there is cointegration between the variables. Panel-SUR has been preferred as the coefficient estimation method. This method yields effective results when N

Keywords: Institutional quality; BRICS-T; welfare; Panel-SUR (search for similar items in EconPapers)
Date: 2022
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