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Institutions & Well-being

Listed author(s):
  • Bennett, Daniel
  • Nikolaev, Boris
  • Aidt, Toke

It is by now well-established in the development economics literature that institutions play a vital role in shaping social, economic, and political incentives, reducing transaction costs and uncertainty, and promoting long-run economic growth. Following recent developments on the measurement of socio-economic progress, which emphasize the importance of many non-economic dimensions of quality of life, the goal of this special issue is to encourage new socio-economic research on the relationship between institutions and well-being in this broader sense. Here, we provide a brief overview of the existing literature on institutions and well-being and then summarize the papers in this special issue according to three unifying themes (1) economic freedom studies; (2) institutions and long-run growth, and (3) well-being and institutions in transition economies. We conclude by discussing some challenges for future research.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 78436.

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Date of creation: Dec 2016
Handle: RePEc:pra:mprapa:78436
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