Do Institutions Cause Growth? Evidence from Asian Countries

Bayu Kharisma, A. Wardhana, Mohammad Naufal Faisal Sofyan
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引用次数: 1

Abstract

A well-maintained political stability and economic freedom can encourage economic growth through investment, human capital, and technological developments. Adverse phenomena such as the Asia Rohingya conflict and uprisings in the Middle East conflict create an unstable political and economic environment, requiring institutions to develop an ideal environment for investors. This paper aims to identify the effect of political and economic institutions on economic growth. This paper uses panel data from developing Asian countries in 2009-2018 using the system GMM model. The results indicate that economic institutions have a positive and significant effect on economic growth. However, political institutions have no significant effect on economic growth. These results indicate that economic institutions have an essential role in maintaining and controlling the activities of emerging markets in Asia. Good institutions have to be in place to prevent fraud in market activities. In addition, economic freedom is one of the critical factors in attracting investment into the country to have a spillover effect on technological development.
制度导致增长吗?来自亚洲国家的证据
维持良好的政治稳定和经济自由可以通过投资、人力资本和技术发展促进经济增长。亚洲罗兴亚冲突和中东冲突中的起义等不利现象造成了不稳定的政治和经济环境,要求机构为投资者创造理想的环境。本文旨在确定政治和经济制度对经济增长的影响。本文使用2009-2018年亚洲发展中国家的面板数据,采用系统GMM模型。结果表明,经济制度对经济增长具有显著的正向影响。然而,政治制度对经济增长没有显著影响。这些结果表明,经济制度在维持和控制亚洲新兴市场活动方面发挥着至关重要的作用。良好的制度必须到位,以防止市场活动中的欺诈行为。此外,经济自由是吸引投资进入该国并对技术发展产生溢出效应的关键因素之一。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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