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Institutional determinants of labor productivity in the selected regions of the European Union

Author

Listed:
  • Waclaw Jarmolowicz

    (WSB Schools of Banking)

  • Slawomir Kuzmar

    (Poznan University of Economics)

Abstract

Facing the growing importance of institutions as a vital, or according to some, even a key determinant of economic growth and development, the authors of this study attempt to define and determine basic relations and mechanisms by which the institutional environment affects labor productivity. In addition, an analysis of institutions diversity and labor productivity was carried out in selected regions of the European Union. The findings of the analyses prompt to draw a conclusion that “good” institutional solutions have a significant impact on the development of labor productivity also at regional level by protecting property rights, lowering transaction costs, stimulating competition and improving the efficient functioning of the market mechanism.

Suggested Citation

  • Waclaw Jarmolowicz & Slawomir Kuzmar, 2015. "Institutional determinants of labor productivity in the selected regions of the European Union," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 14(4), pages 459-478, December.
    • Handle: RePEc:cpn:umkeip:v:14:y:2015:i:4:p:459-478
    DOI: 10.12775/EiP.2015.030
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    More about this item

    Keywords

    formal institutions; informal institutions; labor productivity;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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