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The Intermingling Relationship of Economic Growth and Institutional Quality: A Panel Data Analysis

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  • Tugba FIGANKAPLAN

Abstract

The purpose of this study is to investigate the relationship between economic growth and institutional quality. In this study, the relationship between economic growth and institutional quality is analyzed econometrically by using Mankiw-Romer-Weil (MRW) growth model and employing panel data regression analysis in the sample of 11 countries including Germany, Belgium, France, England, Spain, Ireland, Italy, Greece, Netherlands, Portugal and Turkey for the period between the years 1990 and 2015. Analysis results imply that protection of property rights, rule of law and control of corruption have a positive effect on economic growth, but judicial independence and regulatory quality have a negative effect.

Suggested Citation

  • Tugba FIGANKAPLAN, 2017. "The Intermingling Relationship of Economic Growth and Institutional Quality: A Panel Data Analysis," Journal of BRSA Banking and Financial Markets, Banking Regulation and Supervision Agency, vol. 11(1), pages 65-91.
    • Handle: RePEc:bdd:journl:v:11:y:2017:i:1:p:65-91
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    More about this item

    Keywords

    Economic Growth; Institutional Quality; MRW Growth Model; Panel Data Analysis;
    All these keywords.

    JEL classification:

    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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