Institutions and economic performance: evidence from Western Balkans 1996-2016

Muja, Armend; Gunar, Seckin

doi:10.1016/j.ifacol.2019.12.497

Cited by 9 publications

(8 citation statements)

References 14 publications

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“…They consist of both informal constraints (sanctions, taboos, customs, traditions, and codes of conduct), and formal rules (constitutions, laws, property rights)". Further, North (1991) noted that institutions affect the cost of transactions and production and hence economic performance, whereas Muja and Gunar (2019) indicated that institutions promote growth by improving productivity and foreign direct investment. Empirically, Bates et al (2013) provided evidence that strong political institutions improve the growth outcomes of African countries both at the macro and micro levels.…”

Section: Economic Growth and Institutional Qualitymentioning

confidence: 99%

Financial inclusion and economic growth: What roles do institutions and financial regulation play?

et al. 2022

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The extant literature indicates that financial inclusion has a direct influence on economic growth. This has been examined by previous studies by analysing the link between financial inclusion and economic growth. This study uses the two‐step system GMM approach to investigate the moderating role of financial regulation and quality of institutions on the linkage between economic growth and financial inclusion in Africa, using balanced panel data of 52 African countries spanning 2002–2019. The findings reveal a number of things; (i) financial inclusion, financial regulation, and all proxies of institutional quality exert strong and significant effects on economic growth; (ii) institutional quality enhances the impact of financial inclusion on economic growth; iii. Financial regulation dampens the effect of financial inclusion on economic growth. Based on these findings, we recommend the following; (i) central, local governments, and policymakers should formulate public policy that promotes inclusive finance. Such policies should aim at removing barriers and constraints such as excessive customer identification requirements that hinder people from gaining access to finance; (ii) central governments and policymakers in Africa should refine policy that promotes the involvement of the citizenry in governance processes, promote accountability of public institutions, ensure effective governance systems, controls corruption, promote rule of law, and political stability and ensure quality legal and regulatory regimes; (iii) African central governments should fine‐tune policy aimed at strengthening institutions and the regulatory framework. By implication, strong, independent, and quality institutions coupled with sound financial regulatory framework is required to spur the growth of African countries.

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Section: Economic Growth and Institutional Qualitymentioning

confidence: 99%

Financial inclusion and economic growth: What roles do institutions and financial regulation play?

et al. 2022

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“…(2019) analyzed institution growth over the past 25 years and suggested that institutions are related to growth through entrepreneurship. Muja and Gunar (2019) found a strong causal link between good governance and economic performance in the Western Balkans. Chhabra et al .…”

Section: Literature Reviewmentioning

confidence: 95%

Institutional quality and economic growth in Sub-Saharan Africa: a panel data approach

Hussen

2023

JED

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PurposeThe main purpose of this study is to examine the impact of different dimensions of institutional quality indices on the economic growth of Sub-Saharan African (SSA) countries.Design/methodology/approachThe study uses a panel data set of 31 SSA countries from 1991 to 2015 and employs a two-step system-GMM (Generalized Method of Moments) estimation technique.FindingsThe study's empirical results indicate that investment-promoting and democratic and regulatory institutions have a significant positive effect on economic growth; however, once these institutions are taken into account, conflict-preventing institutions do not have a significant impact on growth.Practical implicationsThe study's findings suggest that countries in the region should continue their institutional reforms to enhance the region's economic growth. Specifically, institutions promoting investment, democracy and regulatory quality are crucial.Originality/valueUnlike previous studies that either use composite measures of institutions or a single intuitional indicator in isolation, the present study has employed principal component analysis (PCA) to extract fewer institutional indicators from multivariate institutional indices. Thus, this paper provides important insights into the distinct role of different clusters of institutions in economic growth.

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“…Transaction fees are costs that cannot be avoided in any exchange, whether the exchange of goods/services or the exchange of information [20]. More broadly opinion [21], what is essentially not adopted by technology is the presence of imperfect information, the phenomenon of free riders, and transaction costs that are not taken into account. This arises because of bounded rationality and opportunistic behaviour.…”

Section: Challenges Development Strategies and Policiesmentioning

confidence: 99%

Zinc biofortified rice: seed production and targets development, in central java

et al. 2022

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The aims of this study were to produce Inpari IR Nutri Zinc seeds and determine their development targets. The rice seeds produced in 2000 were 3,090 kg (1 ha), and in 2021, it was 6,155 kg (2 ha). The development location of Inpari IR Nutri Zinc is directed at areas that have a high stunting rate by paying attention to the suitability of agroecosystems. Some of the development obstacles encountered include the availability of seeds, resistance to crackle disease, lower productivity compared to previous varieties, and transaction costs. Policy steps that need to be carried out by the Government include i) producing rice seeds of the Inpari IR Nutri Zinc variety, ii) source seed assistance is given to seed producers, while extension seed assistance is given to farmers and the Agricultural Extension Office / Center for plot demonstration activities, iii) Farmers need to be encouraged to be able to adapt to new habits / plant varieties that are different from before, through socialization with the Multi-Channel Dissemination Spectrum (SDMC) approach, iv) The Government makes the programs to maintain national food security and nutrition a priority.

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Institutions and economic performance: evidence from Western Balkans 1996-2016

Cited by 9 publications

References 14 publications

Financial inclusion and economic growth: What roles do institutions and financial regulation play?

Financial inclusion and economic growth: What roles do institutions and financial regulation play?

Institutional quality and economic growth in Sub-Saharan Africa: a panel data approach

Zinc biofortified rice: seed production and targets development, in central java

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