Institutions & Well-being

Daniel Bennett, Boris Nikolaev and Toke Aidt

MPRA Paper from University Library of Munich, Germany

Abstract: It is by now well-established in the development economics literature that institutions play a vital role in shaping social, economic, and political incentives, reducing transaction costs and uncertainty, and promoting long-run economic growth. Following recent developments on the measurement of socio-economic progress, which emphasize the importance of many non-economic dimensions of quality of life, the goal of this special issue is to encourage new socio-economic research on the relationship between institutions and well-being in this broader sense. Here, we provide a brief overview of the existing literature on institutions and well-being and then summarize the papers in this special issue according to three unifying themes (1) economic freedom studies; (2) institutions and long-run growth, and (3) well-being and institutions in transition economies. We conclude by discussing some challenges for future research.

Keywords: institutions; well-being; development (search for similar items in EconPapers)
JEL-codes: O10 O17 P5 (search for similar items in EconPapers)
Date: 2016-12
New Economics Papers: this item is included in nep-evo, nep-hap and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:78436

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