THE ROLE OF INSTITUTIONAL STRUCTURE IN EXPLAINING THE ECONOMIC GROWTH DIFFERENCES AMONG COUNTRIES: AN APPLICATION ON LOW, MEDIUM AND HIGH-INCOME COUNTRIES (1996-2014)
In the study, it is empirically investigated that the effects of institutional structure indicators on the economic growth in countries which are grouped as low, medium and high income in economic terms within the framework of new generation panel data analysis methodology for the period 1996-2014....
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| Formato: | article |
| Lenguaje: | DE EN FR TR |
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Fırat University
2019
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| Acceso en línea: | https://doaj.org/article/a75163c8ebb5481886cf7f1b87911972 |
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| Sumario: | In the study, it is empirically investigated that the effects of institutional structure indicators on the economic growth in countries which are grouped as low, medium and high income in economic terms within the framework of new generation panel data analysis methodology for the period 1996-2014. In the study of this aspect, it is intended that the differentiation of the economic growth performances in long-term and/or income levels of countries around the world is to evaluated the effects of institutional structure indicators. As a result of the study, in the sample period it was determined that the long-run effects of the institutional structure indicators on economic growth in the high-income countries were positive directional and statistically significant. In contrast, it was identified that the long-run effects of the institutional structure indicators on economic growth in low and middle income countries were negative directional and statistically significant in generally. These results indicate that the countries which are covered in the study period; differentiation in terms of welfare level as low, medium and high income levels and/or the sustainability of economic growth performances in long-term has a significant effect on of the institutional structure in the different qualities they possess in addition to the accumulation of physical-human capital. |
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