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Institutions and economic performance: evidence from Western Balkans 1996-2016

机译：制度与​​经济表现：来自西巴尔干地区的证据1996-2016

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Exploring the relationship between the role of institutions and economic performance has been an area of much research in political economy. There is a rich literature on Solow growth model linking institutions with better economic performance, extended growth model, endogenous growth model and extended endogenous growth model. However, this assumption may not hold in developing countries. The role of regulatory institutions and the institutional setting are supposed to lead to higher levels of growth through improving productivity and foreign direct investment. This article makes an attempt to test the role of institutions in economic performance in Western Balkans. The methodological approach used is in article is based on econometric analysis of the correlation between institutions and economic performance. The analysis is based on the data on the quality of institutions index of the World Bank and economic growth figures between 2006-2016. Our econometric analysis suggests that there is strong causal link between the quality of governance and economic performance in Western Balkans.
机译：探索机构作用与经济绩效之间的关系一直是政治经济学研究的一个领域。关于将机构与更好的经济绩效联系在一起的Solow增长模型，扩展增长模型，内生增长模型和扩展内生增长模型的文献很多。但是，这种假设在发展中国家可能不成立。监管机构的作用和机构设置应该通过提高生产率和外国直接投资而导致更高水平的增长。本文试图检验制度在西巴尔干地区经济绩效中的作用。本文使用的方法论方法是基于对制度与经济绩效之间相关性的计量经济学分析。该分析基于世界银行机构质量指数数据和2006-2016年间的经济增长数据。我们的计量经济学分析表明，西巴尔干地区的治理质量与经济绩效之间存在很强的因果关系。

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