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Political And Economic Institutions And Human Development: Post-Communist Nations

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  • ISMATILLA MARDANOV

    (Department of Management, Southeast Missouri State University, USA2One University Plaza, Mail Stop 5850, Cape Girardeau, Missouri 63701, USA)

Abstract

The literature has extensively investigated the relationships between country economic and political institutions and human well-being. I assume that economic institutions can be the determinants of human development and provide a more robust explanation of the latter under the influence of political institutions in the 2SLS instrumental variable estimation than in the ordinary least square (OLS) estimation. I also assume that most of the Post-Communist Nations (PCN) were transitioning their economic and social systems focusing on human development, among other critical reforms and programs. Data confirm this assumption for 22 countries out of 25. Results indicate that there were causal relationships between human development and business, monetary, and investment freedom, and freedom from corruption and government spending. Only government spending had a negative effect on human development. Economic, labor, trade, fiscal, and financial freedom were not endogenous variables with strong instruments. Therefore, these institutions did not have a stronger impact on human development. External validation of the estimates using data from the rest of the world confirms the results. All the mentioned economic institutions had a significant impact on human development in the rest of the world under the influence of the same instrumental variables: political rights, civil liberties, property rights, the median age of the population, and geographic location. Government spending again had a significant and negative effect on human development.

Suggested Citation

  • Ismatilla Mardanov, 2020. "Political And Economic Institutions And Human Development: Post-Communist Nations," Global Economy Journal (GEJ), World Scientific Publishing Co. Pte. Ltd., vol. 20(01), pages 1-30, March.
    • Handle: RePEc:wsi:gejxxx:v:20:y:2020:i:01:n:s2194565920500062
    DOI: 10.1142/S2194565920500062
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    Citations

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    Cited by:

    1. Kamalu, Kabiru & Wan Ibrahim, Wan Hakimah, 2022. "The Influence of Institutional Quality on Human Development: Evidence from Developing Countries," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 56(1), pages 93-105.
    2. Kabiru Kamalu & Wan Hakimah Binti Wan Ibrahim, 2023. "Conditional Effect of Environmental Degradation and Institutional Environment on Human Development in Developing Countries: Evidence from Method of the Moment-Quantile Regression with Fixed Effect," International Journal of Energy Economics and Policy, Econjournals, vol. 13(5), pages 667-677, September.
    3. Md. Golam Kibria & M. M. K. Toufique, 2023. "Institutional governance and quality of life: evidence from developing countries," SN Business & Economics, Springer, vol. 3(3), pages 1-20, March.
    4. Olalekan C. Okunlola & Olumide A. Ayetigbo, 2022. "Economic Freedom and Human Development in ECOWAS: Does Political-Institutional Strength Play a Role?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(3), pages 1751-1785, September.

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