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New empirical evidence of the linkages between governance and economic output in the European Union

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  • Bogdan Dima
  • Stefana Maria Dima
  • Oana-Ramona Lobont

Abstract

This paper uses data for the 27 Member States of the European Union (EU) from 2000 to 2010 to support the thesis that a positive and significant correlation exists between a nation’s quality of governance and its economic output. To achieve this goal, the elements of governance that have been reported by the Worldwide Governance Indicators project are considered. Four individual indicators for the quality of policies and institutions and a global indicator of governance quality are constructed. We estimate that, for our database, a standard deviation shock in these indicators causes changes between 0.03-fold and 0.05-fold in income per capita.

Suggested Citation

  • Bogdan Dima & Stefana Maria Dima & Oana-Ramona Lobont, 2013. "New empirical evidence of the linkages between governance and economic output in the European Union," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 16(1), pages 68-89.
    • Handle: RePEc:taf:jecprf:v:16:y:2013:i:1:p:68-89
    DOI: 10.1080/17487870.2012.759427
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    Cited by:

    1. Vassilis T. Rapanos & Georgia Kaplanoglou, 2014. "Governance, Growth and the Recent Economic Crisis: The Case of Greece and Cyprus," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 8(1), pages 3-34, June.
    2. Bogdan Dima & Oana-Ramona Lobonţ & Nicoleta-Claudia Moldovan, 2016. "Does the Quality of Public Policies and Institutions Matter for Entrepreneurial Activity? Evidences from the European Union’s Member States," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 63(4), pages 425-439, September.
    3. Liton Chandra Voumik & Shohel Md. Nafi & Festus Victor Bekun & Murat Ismet Haseki, 2023. "Modeling Energy, Education, Trade, and Tourism-Induced Environmental Kuznets Curve (EKC) Hypothesis: Evidence from the Middle East," Sustainability, MDPI, vol. 15(6), pages 1-18, March.
    4. Cristina CRISTE & Ciel BOVARY (MAN) & Nicoleta-Claudia MOLDOVAN & Raluca RĂCĂTĂIAN & Oana-Ramona LOBONȚ, 2024. "Eu Capacity To Bolster And Stimulate Research And Innovation: Who Is The Leader In Development?," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 19(2), pages 60-77, August.
    5. Nicoleta Mihaela Doran & Gabriela Badareu & Marius Dalian Doran & Maria Enescu & Anamaria Liliana Staicu & Mariana Niculescu, 2024. "Greening Automation: Policy Recommendations for Sustainable Development in AI-Driven Industries," Sustainability, MDPI, vol. 16(12), pages 1-17, June.
    6. Alina Georgiana Manta & Gabriela Badareu & Inocentiu Alexandru Florea & Anamaria Liliana Staicu & Cătălin Valentin Mihai Lepădat, 2023. "How Much Financial Development Accentuates Income Inequality in Central and Eastern European Countries?," Sustainability, MDPI, vol. 15(18), pages 1-18, September.
    7. Andreea-Florentina Crăciun & Alexandra-Mădălina Țăran & Grațiela Georgiana Noja & Marilen Gabriel Pirtea & Raluca-Ioana Răcătăian, 2023. "Advanced Modelling of the Interplay between Public Governance and Digital Transformation: New Empirical Evidence from Structural Equation Modelling and Gaussian and Mixed-Markov Graphical Models," Mathematics, MDPI, vol. 11(5), pages 1-25, February.

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