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Institutional Quality of the Business Environment: Some European Practices in a Comparative Analysis

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  • Cosmin Marinescu

    ()
    (Bucharest Academy of Economic Studies, Romania)

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    Abstract

    In contemporary economic literature, we can find plenty of theoretical and empirical approaches which seek to highlight the most appropriate factorial variables that are associated with the institutional quality of the business environment. This study presents, in a summarised version, the institutional logic of transaction costs that was substantiated within a scientific research project. In essence, the economic performances of the business environment are circumscribed by the institutions that facilitate or constrain the entrepreneurial initiatives and the economic activity in general. In terms of empirical analysis, the comparative approach of the EU business environments illustrates various exemples of (good or bad) practices with respect to the institutional quality of the business environment. By selecting certain relevant institutional variables, the original character of this research resides in developing an indicator – The Institutional Quality of the Business Environment (hereafter IQBE) which offers a dynamic perspective upon the business environments that characterise both Romania and other EU countries.

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    Bibliographic Info

    Article provided by Academy of Economic Studies - Bucharest, Romania in its journal The AMFITEATRU ECONOMIC journal.

    Volume (Year): 15 (2013)
    Issue (Month): 33 (February)
    Pages: 270-287

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    Handle: RePEc:aes:amfeco:v:15:y:2013:i:33:p:270-287

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    Related research

    Keywords: Institutional Quality of the Business Environment; Transaction Costs; Entrepreneurship; Property Rights;

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    1. Christian Bjørnskov & Nicolai J. Foss, 2006. "Economic Freedom and entrepreneurial Activity Some Cross-Country Evidence," DRUID Working Papers, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies 06-18, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    2. Wieneke, Axel & Gries, Thomas, 2011. "SME performance in transition economies: The financial regulation and firm-level corruption nexus," Journal of Comparative Economics, Elsevier, vol. 39(2), pages 221-229, June.
    3. Krkoska, Libor & Robeck, Katrin, 2008. "Business environment and enterprise behaviour in East Germany compared to West Germany and Central Europe," Journal of Comparative Economics, Elsevier, vol. 36(4), pages 568-583, December.
    4. Elisa Valeriani & Sara Peluso, 2011. "The Impact Of Institutional Quality On Economic Growth And Development: An Empirical Study," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, ScientificPapers.org, vol. 1(6), pages 25, October.
    5. Yasar, Mahmut & Paul, Catherine J. Morrison & Ward, Michael R., 2011. "Property Rights Institutions and Firm Performance: A Cross-Country Analysis," World Development, Elsevier, Elsevier, vol. 39(4), pages 648-661, April.
    6. Russell S. Sobel, 2006. "Testing Baumol: Institutional Quality and the Productivity of Entrepreneurship," Working Papers 06-06 Classification-, Department of Economics, West Virginia University.
    7. Keefer, Philip & Knack, Stephen, 1997. "Why Don't Poor Countries Catch Up? A Cross-National Test of Institutional Explanation," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 35(3), pages 590-602, July.
    8. Luminiţa Ionescu & George Lăzăroiu & Gheorghe Iosif, 2012. "Corruption and bureaucracy in public services," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, Academy of Economic Studies - Bucharest, Romania, vol. 14(Special N), pages 665-679, November.
    9. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(5), pages 893-921, October.
    10. James D. Gwartney & Randall G. Holcombe & Robert A. Lawson, 2004. "Economic Freedom, Institutional Quality,and Cross-Country Differences in Income and Growth," Cato Journal, Cato Journal, Cato Institute, Cato Journal, Cato Institute, vol. 24(3), pages 205-233, Fall.
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    Cited by:
    1. Camelia I. Lungu & Cornelia Dascalu & Chirata Caraini & Erica C. Balea, 2014. "Econometric Approach of the Scenarios regarding the Impact of the Consumer’s Empowerment and Companies’ Responsibility for Environment Sustainability on the Electricity Market Performance," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, Academy of Economic Studies - Bucharest, Romania, vol. 16(35), pages 187, February.

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