The Impact of Political Competition on Countries’ Economic Development Through the Public Decision-Making Processess

The economic models that analyse the functioning of market economies assume the existence of institutions - not necessarily economic - which are essential for the functioning of the markets, whether they are competitive, oligopolistic or monopolistic. Without these institutions, markets would cease to function or be subject to huge inefficiencies. In a constantly evolving globalizaation’s context, the presence of effective and efficient governance becomes a strategic necessity for a country and, in this viewpoint, also includes the analysis of the distinctive characteristics. In fact, a well-defined system of property rights, a regulation bureaucracy of markets which guarantees competition, public policies that support social cohesion, political institutions that reduce the risk of social conflicts and/or allow their management, are all institutions functional to the economic growth of a country.