Institutions and the Economic Growth

Syed Ali Ahmed and Asma Hyder ()
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Asma Hyder: School of Economics and Social Sciences, IBA Karachi
Authors registered in the RePEc Author Service: Asma Hyder Baloch

Social Inequality Lab Working Paper Series from School of Economics and Social Sciences, IBA Karachi

Abstract: This study shows the impact of different dimensions of institutional quality on economic performance is not the same across all four different stages of development. Using data by ICRG, the five dimensions of the institutional quality are studied: (i) Democracy, (ii) Rule of Law, (iii) Bureaucratic Quality, (iv) Government Stability, and (v) Control of Corruption. The four stages of development, high income, upper middle income, lower middle income and low-income countries are included. The empirical results show that not all institutional quality variables affect economic output in a linear fashion and the direction of the effect of institutional quality on output differs across various stages of development. The study also suggest that the institutional dynamics of low-income countries are significantly different than developed countries.

Pages: 30 pages
Date: 2023
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