Macroeconomic model of institutional reforms’ influence on economic growth of the new EU members and the Republic of Croatia

Vesna Buterin, Marinko Skare and Denis Buterin

Economic Research-Ekonomska Istraživanja, 2017, vol. 30, issue 1, 1572-1593

Abstract: The aim of this paper is to research, theoretically and empirically, the impact of institutional reforms on economic growth in transition countries (new European Union members) and Croatia, in the period from 1996 to 2012. In order to prove the hypothesis, we will use panel analysis of transition economies and Croatia, namely the Arellano–Bond dynamic panel analysis. The analysis includes two dependent variables (gross domestic product per capita [G.D.P./p.c.]and the share of export in G.D.P.) and five independent variables (total Heritage Index of Economic Freedom, Worldwide Governance Indicators (W.G.I.) government effectiveness indicator, W.G.I. rule of law indicator, corruption perception index and the index of institutional reforms in transition countries). The results show that there is a significant positive impact of institutional reforms on the economic growth of transition countries and Croatia, which creates preconditions that are essential for the future growth rate of the Croatian economy.

Date: 2017
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://hdl.handle.net/10.1080/1331677X.2017.1355260 (text/html)
Access to full text is restricted to subscribers.

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:taf:reroxx:v:30:y:2017:i:1:p:1572-1593

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rero20

DOI: 10.1080/1331677X.2017.1355260

Access Statistics for this article

Economic Research-Ekonomska Istraživanja is currently edited by Marinko Skare

More articles in Economic Research-Ekonomska Istraživanja from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().