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Institutions, Governance, Business Environment: To what Extent do they Affect Growth? - Istituzioni, governance e business environment: come influiscono sullo sviluppo economico?

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Lots of studies were produced in the past decade on the importance of the quality of the institutions for economic development. Several authors focused on the indicators provided by Doing Business (World Bank) to highlight the main factors favouring or rather limiting the economic development. But to what extent do governance, the institutions, both public and private, and the business environment actually affect economic performances? This paper is an attempt to answer this question through the analysis of panel data that contains this kind of information. The results of the analysis are statistically significant and confirm the importance of these variables as determinants of the income in the countries under study. In particular, a positive relation is observed between the income and a high degree of domestic and international confidence, ensured by qualitatively high levels of the governance, the institutions, as well as of the so-called business environment. - Come e quanto governance, istituzioni, sia pubbliche che private, e business environment influenzano lo sviluppo di un paese? Questo lavoro cerca di dare una risposta a questa domanda analizzando dati “panel” offerti dalla World Bank nel rapporto Doing Business che contengono informazioni e indici utili ad evidenziare i fattori che maggiormente incidono sullo sviluppo economico. Negli ultimi dieci anni diversi contributi hanno sottolineato il ruolo chiave delle istituzioni e delle caratteristiche qualitative di queste ultime nella determinazione dei livelli di sviluppo nei vari sistemi economici. I risultati delle elaborazioni, statisticamente significativi, riportati in questo paper appaiono decisamente confermare il peso di una serie di variabili qualitative a volte poco considerate dalla letteratura economica, ma di fatto determinanti anche per l’individuazione degli scenari economici futuri. Interessante, per i 183 paesi analizzati, la relazione, stabile e significativa, tra il livello del reddito di un paese e il grado di fiducia espresso attraverso l’analisi di una serie di variabili tra le quali spicca in modo particolare il peso della corruzione, in ambiente sia pubblico che privato, con i suoi risvolti sia interni che internazionali.

Suggested Citation

  • Parravicini, Paola & Tagliabue, Giovanna, 2013. "Institutions, Governance, Business Environment: To what Extent do they Affect Growth? - Istituzioni, governance e business environment: come influiscono sullo sviluppo economico?," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 66(1), pages 69-85.
  • Handle: RePEc:ris:ecoint:0677
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    More about this item

    Keywords

    Institutions; Institutions vs. Policies; Measurement; Corruption; Business Indicators;

    JEL classification:

    • F00 - International Economics - - General - - - General
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F18 - International Economics - - Trade - - - Trade and Environment
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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