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首页> 外文期刊>Journal of institutional economics >Do institutions moderate globalization's effect on growth?
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Do institutions moderate globalization's effect on growth?

机译:机构是否缓和了全球化对增长的影响?

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摘要

The hypothesis that institutional factors affect real economic growth has received support in both the theoretical and empirical literature. Globalization has also, though not unanimously, been found to affect growth outcomes. Bridging the gap between the two strands of the literature, this paper investigates the existence and strength of the interaction between institutional quality and globalization on real economic growth using a panel dataset covering 82 countries and spanning 25 years (1986-2010). Dimensionality reduction techniques are employed to identify key components of 'institutional quality': the rule of law, civil liberties and political rights. The empirical results reveal that while 'institutional quality' robustly and positively affects growth, the direct effect of economic globalization is not significant and the interaction effects, perhaps as a consequence, are muted over the review period. Direct and interaction effects of institutional quality and economic globalization on growth are, however, observed for the sub-sample of developing countries.
机译:制度因素影响实际经济增长的假说在理论和实证文献中都得到了支持。尽管并非一致,全球化也被发现会影响增长成果。弥合这两条文献之间的鸿沟,本文使用涵盖82个国家且跨越25年(1986-2010年)的面板数据集,研究了制度质量与全球化之间相互作用对实际经济增长的存在和强度。降维技术被用来识别“制度质量”的关键组成部分:法治,公民自由和政治权利。实证结果表明,尽管“制度质量”对增长产生了积极而积极的影响,但经济全球化的直接影响并不显着,在此期间,相互作用的影响(可能因此而减弱了)。但是,在发展中国家的子样本中,观察到机构质量和经济全球化对增长的直接影响和相互作用。

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