 Institutional Change and Economic Growth in PakistanMPRA Paper from University Library of Munich, Germany Abstract: This study attempts to isolate causes of institutional change and investigates the role it plays in achieving economic development. Institutional change is vital for sustainable economic growth but literature shows that related empirical evidence is limited. In this paper Multiple Indicators and Multiple Causes Model is employed. The results reveal that in case of Pakistan control of corruption, rule of law, privatization, liberalization, and voice accountability are the most important causes of institutional change. In addition to this export orientation also have a positive effect on institutional change whereas macroeconomic instability has a negative impact. Furthermore, there exists a significant positive relation between institutional change and economic development in Pakistan. The first section of the study provides an introduction, and section two provides relevant literature review. In section three methodology employed by the study is discussed. Section four presents results and discussion. Section five chalks out policy implications and concludes the study. Keywords: Institutional change; Economic development; Sustainable growth; Pakistan (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:72938 Access Statistics for this paper More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC. |
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