Institutional variables, capital flows and GDP: a causality analysis
Institutional Variables, Capital Flows and GDP: A Causality Analysis (by Giuseppe Mastromatteo, Giovanni Verga) - ABSTRACT: uring the last years the effects of socio-institutional and political variables on economic conditions has gained importance in the literature. This paper investigates the links between socio-institutional variables and capital inflows and GDP relative to a sample of countries for the years 2003-2004. First of all, the causality relationships between the variables under consideration are investigated and identified by means of a particular software, called TETRAD; after that, a system of equations is estimated. The results support the hypothesis that economic freedom is crucial for both capital flows and GDP. Keywords: Institutional Variables, Capital Flows, Freedom Indices, GDP, Causality
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Volume (Year): 2007/91 (2007)
Issue (Month): 91 ()
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