Determinants of Institutional Quality: A Case Study of IMF Programme Countries

Omer Javed

Chapter Chapter 2 in The Economic Impact of International Monetary Fund Programmes, 2016, pp 7-35 from Springer

Abstract: Abstract Taking a panel data of IMF member countries, this chapter primarily focuses on the IMF programme countries, during 1980–2009; a time period during which the number of IMF programmes witnessed an increasing trend. Firstly, important determinants of economic- and political institutional quality in IMF programme countries are estimated by applying the System-GMM approach, so as to find significant determinants among them. Here, a parliamentary form of government, aggregate governance level, civil liberties, openness, and property rights all enhance overall institutional quality. Specifically, greater monetary- and investment freedom are conducive for political institutional quality, while military in power impacts negatively. Moreover, economic growth is conducive for enhancing economic institutional quality.

Keywords: Economic Freedom; Civil Liberty; Institutional Quality; Herfindahl Index; Institutional Determinant (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-319-29178-9_2

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DOI: 10.1007/978-3-319-29178-9_2

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