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Institutions and Economic Development: Theory And Empirics (Overview of Contemporary Research)

Author

Listed:
  • Natkhov, Timur

    (NRU HSE)

  • Boranukov, Murat

    (Finantial Academy)

Abstract

The paper provides an overview of contemporary research of the relationship of economic development and institutions. Studies conducted on the basis of cross-national data using econometric methods show that economic growth is produced by institutions protecting property rights and providing contracts enforcement. These achievements indicate that economic success is more likely to accompany the countries that have focused on institutional reforms.

Suggested Citation

  • Natkhov, Timur & Boranukov, Murat, 2010. "Institutions and Economic Development: Theory And Empirics (Overview of Contemporary Research)," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 5, pages 129-142.
    • Handle: RePEc:rnp:ecopol:1058
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