Do Institutions Accelerate Economic Growth? Case Study of the Balkan Countries

Kristina Maric Gjorgjieva () and Besnik Fetai
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Kristina Maric Gjorgjieva: South-East European University
Besnik Fetai: South-East European University

A chapter in Economic Recovery, Consolidation, and Sustainable Growth, 2023, pp 209-220 from Springer

Abstract: Abstract The aim of this paper is to identify the impact of institutions in achieving higher economic growth. Institutions defined as rules of a game within the society are considered as one of the driving forces toward achieving higher economic growth. In that respect, the main subject matter is whether higher developed institutions will lead to better economic perspective in the Balkan Countries. The methods employed in this paper are pooled OLS, Fixed and Random Effects Model as well as the Hausman-Taylor IVs model. Although measuring institutional effects is quite complex, the conclusion drawn from the findings is that de facto institutions do matter in achieving better economic performance.

Keywords: Institutions; Economic growth; Balkan countries; Panel data (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-42511-0_13

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DOI: 10.1007/978-3-031-42511-0_13

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