 Social market economy: Towards a comprehensive composite indexHelena Helfer No 6/2015, CIW Discussion Papers from University of Münster, Center for Interdisciplinary Economics (CIW) Abstract: Institutions that potentially have a positive impact on economic performance rarely exist outside of a system of institutions; rather they are embedded in the economic order of a country. It is thus imperative to investigate bundles of performance-enhancing institutions, particularly those bundles that form the basis for economic orders. This paper is based on bundles of institutions that have empirically proven to be prosperity enhancing. It proposes a measurement of this bundle of institutions in the form of a composite index, which is based on 12 different data series. Index data is available for 163 countries between 2005 and 2010 and it allows for comparative analyses using the overall index as well as its three sub-indices, measuring political, economic and societal institutional quality. The index is a step towards a more systematic international comparison of institutional settings. In future research, it can contribute to identifying prosperity enhancing bundles of institutions through regression analysis. JEL-codes: H00 O11 O43 P51 (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:zbw:ciwdps:62015 Access Statistics for this paper More papers in CIW Discussion Papers from University of Münster, Center for Interdisciplinary Economics (CIW) Contact information at EDIRC. |
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