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Do Institutions Accelerate Economic Growth? Case Study of the Balkan Countries

In: Economic Recovery, Consolidation, and Sustainable Growth

Author

Listed:
  • Kristina Maric Gjorgjieva

    (South-East European University)

  • Besnik Fetai

    (South-East European University)

Abstract

The aim of this paper is to identify the impact of institutions in achieving higher economic growth. Institutions defined as rules of a game within the society are considered as one of the driving forces toward achieving higher economic growth. In that respect, the main subject matter is whether higher developed institutions will lead to better economic perspective in the Balkan Countries. The methods employed in this paper are pooled OLS, Fixed and Random Effects Model as well as the Hausman-Taylor IVs model. Although measuring institutional effects is quite complex, the conclusion drawn from the findings is that de facto institutions do matter in achieving better economic performance.

Suggested Citation

  • Kristina Maric Gjorgjieva & Besnik Fetai, 2023. "Do Institutions Accelerate Economic Growth? Case Study of the Balkan Countries," Springer Proceedings in Business and Economics, in: Abdylmenaf Bexheti & Hyrije Abazi-Alili & Léo-Paul Dana & Veland Ramadani & Andrea Caputo (ed.), Economic Recovery, Consolidation, and Sustainable Growth, pages 209-220, Springer.
  • Handle: RePEc:spr:prbchp:978-3-031-42511-0_13
    DOI: 10.1007/978-3-031-42511-0_13
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