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Institutional quality: criteria, determinants and benefits

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  • Ioan POPESCU

    ("Alexandru Ioan Cuza" University of Iasi, Faculty of Economics and Business Administration, Romania)

Abstract

Understanding human behavior and institutions mutuality, the economic and political implications of this interdependence, increased the importance of institutions and institutional analysis in economic theory. The institutional quality of the economic and political system is paramount to the welfare of nations. In the absence of appropriate institutions, individuals do not always have the ability to recognize what is socially beneficial. A central question in social sciences and history is, therefore, why societies evolve along different paths of institutional development and prosperity and why others do not adopt institutions that generate economic and social benefits. This work was supported by the project "Post-Doctoral Studies in Economics: training program for elite researchers - SPODE" co-funded from the European Social Fund through the Development of Human Resources Opera?ional Programme 2007-2013, contract no. POSDRU/89/1.5/S/61755

Suggested Citation

  • Ioan POPESCU, 2012. "Institutional quality: criteria, determinants and benefits," THE YEARBOOK OF THE "GH. ZANE" INSTITUTE OF ECONOMIC RESEARCHES, Gheorghe Zane Institute for Economic and Social Research ( from THE ROMANIAN ACADEMY, JASSY BRANCH), vol. 21(1), pages 59-65.
    • Handle: RePEc:zan:ygzier:v:21:y:2012:i:1:p:59-65
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