Determinants of Economic Growth
| Authors | |
|---|---|
| Year of publication | 2015 |
| Type | Article in Proceedings |
| Conference | International Conference Hradec Economic Days 2015 |
| MU Faculty or unit | |
| Citation | |
| Web | http://fim.uhk.cz/hed/images/KOMPLET_1_AG.pdf |
| Field | Economy |
| Keywords | economic growth; institutions; cross-sectional data |
| Description | This paper analyses determinants of world-wide economic growth. The data used are collected for 142 countries, they cover period 1980 – 2010. The goal of the paper is to find out which variables explain economic growth (in terms of GDP per capita) the best. Because of potential endogeneity, we use method of instrumental variables for cross-sectional data. The explanatory variables includes typical economic indicators but also many institutional indicators. These are e.g. government stability, internal conflicts, corruption, bureaucratic efficiency, religious tensions etc. We also carried out sensitivity analysis of the regression model with respect to geographical position of the countries. In conclusion, we are able to identify what economic, social and political forces influence economic growth. |
| Related projects: |