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How Much Do Non-performing Institutions Cost?
[Сколько Стоят Неработающие Институты?]

Author

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  • Anna Petronevich

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Maxim Petronevich
  • Natalia Akindinova
  • Sergey Aleksashenko

Abstract

The primary goal of this paper is to confirm the existence of the links and receive the quantitative measurement of the correlation between the quality of institutions and dynamics of their development, on the one hand, and GDP growth, on the other. For this analysis the extended database consisting of basic macroeconomic indicators and indices of quality of institutions for 51 countries for the period 2001—2009 was used. This study provides quantitative support to the common notion that economic growth in the long run is affected by the quality of institutions. Though this numeric effect may be viewed as relatively small, in the medium run the accumulated gap in the growth rate caused by permanently lower quality of institutions can be substantial. Moreover, the radical improvement in the quality of institutions provides more significant, though not lasting, addition to the growth rate.

Suggested Citation

  • Anna Petronevich & Maxim Petronevich & Natalia Akindinova & Sergey Aleksashenko, 2011. "How Much Do Non-performing Institutions Cost? [Сколько Стоят Неработающие Институты?]," PSE-Ecole d'économie de Paris (Postprint) hal-01692304, HAL.
    • Handle: RePEc:hal:pseptp:hal-01692304
    Note: View the original document on HAL open archive server: https://hal-pse.archives-ouvertes.fr/hal-01692304
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