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The Relationship between Institutional Quality and Welfare: Panel-SUR Analysis on BRICS-T Countries

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  • Ä°smail Åženturk

    (Department of Economics, Tokat Gaziosmanpasa University, Turkey)

  • Amjad Ali

    (European School of Administration and Management (ESAM)-France; Lahore School of Accountancy and Finance, University of Lahore, Pakistan)

Abstract

In this study, the relationship between institutional quality and welfare has been tried to be examined in BRICS-T countries. For this purpose, the World Bank Worldwide Governance Index was used as an indicator of institutional quality, and its effect on economic growth, which is an indicator of welfare, was examined for the period 2002-2020. It has been determined that there is cross-sectional dependence and heterogeneity in the slope coefficients in the panel. As a result of the panel cointegration test of Westerlund and Edgerton (2007), it has been concluded that there is cointegration between the variables. Panel-SUR has been preferred as the coefficient estimation method. This method yields effective results when N

Suggested Citation

  • Ä°smail Åženturk & Amjad Ali, 2022. "The Relationship between Institutional Quality and Welfare: Panel-SUR Analysis on BRICS-T Countries," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 8(1), pages 45-52, March.
    • Handle: RePEc:rfh:jprjor:v:8:y:2022:i:1:p:45-52
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    Cited by:

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    5. Ali, Amjad, 2022. "Determining Pakistan's Financial Dependency: The Role of Financial Globalization and Corruption," MPRA Paper 116097, University Library of Munich, Germany.
    6. Syed Musa Kazim & Adnan Adil & Sheharbano Tariq & Maria Idress, 2022. "Moderating Role of Death Attitude in the Relationship between Existential Vacuum and Spiritual Wellbeing," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 8(4), pages 40-45, December.
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    8. Ali, Amjad, 2022. "Foreign Debt, Financial Stability, Exchange Rate Volatility and Economic Growth in South Asian Countries," MPRA Paper 116328, University Library of Munich, Germany, revised 2022.
    9. Tehmina Fiaz Qazi & Abdul Aziz Khan Niazi, 2023. "An Analysis of the Determinants of Trust in Virtual Buying: An Interpretive Structural Modeling Approach," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 9(2), pages 103-116.
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    More about this item

    Keywords

    Institutional quality; BRICS-T; welfare; Panel-SUR;
    All these keywords.

    JEL classification:

    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • H75 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Government: Health, Education, and Welfare

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