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The effect of political leaders on economic growth through institutional change

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  • Dóra Zolcsák

Abstract

The article summarizes the influence of political leaders on institutions which, according to institutional economics, directly influences economic growth. Furthermore, the study reviews the literature in which leadership itself becomes a significant factor as a possible explanation for the reason for economic growth through institutional change. Although political leader or its role in growth is still viewed as a controversial issue in economics, the paper emphasises what kind of cause-effect relations exist between political leaders and economic growth and reveals that leaders do matter directly in economic performance by the formation of institutions.

Suggested Citation

  • Dóra Zolcsák, 2015. "The effect of political leaders on economic growth through institutional change," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 18(58), pages 175-190, December.
    • Handle: RePEc:rej:journl:v:18:y:2015:i:58:p:175-190
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    References listed on IDEAS

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    More about this item

    Keywords

    economic growth; leadership; institutional economics; political economy;
    All these keywords.

    JEL classification:

    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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