Wielowymiarowa analiza efektywności instytucjonalnej w krajach Europy Środkowo-Wschodniej w relacji do standardów OECD

Balcerzak, Adam P.

doi:10.15290/ose.2015.01.73.05

Cited by 5 publications

(3 citation statements)

References 9 publications

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“…It is done for the period 2000-2013 and is based on the data from Fraser Institute data base for Economic Freedom of the World Report. It is continuation of previous quantitative research of the authors concentrating on international comparative research on quality of institutions in developed countries (Balcerzak, 2009(Balcerzak, , 2015aPietrzak, 2016c, 2016d;Pietrzak and Balcerzak, 2016a).…”

Section: Introductionmentioning

confidence: 72%

“…The last one, Y4, refers to financial markets institutions as a stimulator of development of enterprises with high growth potential. As the research is deeply rooted in the transaction cost theory, many other significant factors from the perspective of the knowledge-based economy, such as the quality of human capital or the effectiveness of national innovation systems were deliberately not included in the research (see Balcerzak and Pietrzak, 2016c;Balcerzak, 2009aBalcerzak, , 2015a.…”

Section: The Empirical Analysis In the Eu In The Years 2000-2013mentioning

confidence: 99%

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Quality of Institutions for Knowledge-based Economy within New Institutional Economics Framework. Multiple Criteria Decision Analysis for European Countries in the Years 2000–2013

Balcerzak¹,

Pietrzak²

2016

Economics &Amp; Sociology

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The article concentrates on the problem of quality of institutions in the European Union countries in the context of their compatibility with the global knowledge-based economy. The main objective of the article is to evaluate the progress obtained in that field by New Member States of the European Union in the years 2000-2013. The empirical research is based on the following hypothesis: the integration process of Central European countries with the European Union has influenced the acceleration of changes leading to improvement in the quality of their institutional systems in the context of global knowledge-based economy. The first part of the paper presents the most important determinants of the ability of a country to utilize the potential of the knowledge-based economy. This analysis is conducted on the basis of institutional economics specifically transaction cost theory. In the empirical part multiple criteria decision analysis methodology (MCDA) (the modified TOPSIS method) is applied. Data from Fraser Institute data base for Economic Freedom of the World Report has been used. The empirical research is the source of significant arguments in favor of the hypothesis of the paper.

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Section: Introductionmentioning

confidence: 72%

Section: The Empirical Analysis In the Eu In The Years 2000-2013mentioning

confidence: 99%

Quality of Institutions for Knowledge-based Economy within New Institutional Economics Framework. Multiple Criteria Decision Analysis for European Countries in the Years 2000–2013

Balcerzak¹,

Pietrzak²

2016

Economics &Amp; Sociology

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“…The article is a continuation of previous research presented in Balcerzak and Pietrzak (2015a, pp. 71-91;2015b, 2016.…”

Section: Introductionmentioning

confidence: 99%

Quality of institutions and total factor productivity in the European Union

Balcerzak,

Pietrzak

2016

SiTns

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The key challenge for mid- and long-term policy in the European Union countries is to use the potentials of knowledge-based economy (KBE), which is a condition for maintaining high total factor productivity in Europe. For this reason, the relationship between the quality of an institutional system and total factor productivity in the EU countries has been examined. The quality of the institutional system is defined here from the perspective of incentives that influence the use of the potential of KBE. In order to determine the level of effectiveness of the institutional system in the analysed countries the method for linear ordering of objects was applied based on data from Fraser Institute. The main hypothesis of the article states that the quality of the institutional system in the context of KBE has a significant influence on the level of total factor productivity in the EU. In order to verify this hypothesis, the parameters of the Cobb-Douglas production function were estimated, which allowed the evaluation of TFP for the EU countries. The calculation made in the article based on Eurostat data. In order to identifying the relationship between the quality of the institutional system and the level of TFP a panel model was applied using data from a conducted for years 2000-2010.

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Human Development and Quality of Institutions in Highly Developed Countries

Balcerzak

Pietrzak

2016

Financial Environment and Business Development

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The article concentrates on the problem of influence of quality of institutional system in the context of utilizing the potential of knowledge-based economy on the human development in highly developed countries. In order to measure the quality of institutional system a synthetic measure based on multivariate analysis techniques was proposed. To obtain the institutional measure TOPSIS method was applied. To quantify the institutional factors the data from Fraser Institute was used. As diagnostic variables of quality of institutions 29 variables qualified to four aspects of national institutional systems were used: a) formal regulations influencing entrepreneurship; b) effectiveness of juridical system in keeping low level of transaction costs and supporting effectiveness of market mechanism; c) competitive pressure and effectiveness of labour markets; d) financial markets institutions as a stimulator of development of enterprises with high growth potential. Human Development Index proposed within United Nations Development Programme was used for measuring the quality of life. The estimation of relation between institutions and human development was made with econometric dynamic panel model. The estimation was made for 24 European Union countries for the years 2004-2010. The econometric analysis shows the positive influence of quality of institutions on human development in the context of knowledge-based economy in developed countries.

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Wielowymiarowa analiza efektywności instytucjonalnej w krajach Europy Środkowo-Wschodniej w relacji do standardów OECD

Cited by 5 publications

References 9 publications

Quality of Institutions for Knowledge-based Economy within New Institutional Economics Framework. Multiple Criteria Decision Analysis for European Countries in the Years 2000–2013

Quality of Institutions for Knowledge-based Economy within New Institutional Economics Framework. Multiple Criteria Decision Analysis for European Countries in the Years 2000–2013

Quality of institutions and total factor productivity in the European Union

Human Development and Quality of Institutions in Highly Developed Countries

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