O43 - Institutions and GrowthNávrat zpět

The purpose of this paper is to address a relation between governance quality and long-run growth using a case of post-soviet transition countries. Alternative approaches to the growth theory emphasize the role of formal institutions, in particular, political and economic institutions. Based on literature overview, a positive effect of governance quality can be assumed. Governance quality is represented by concept of World Bank's Governance Matters and its influence is estimated within panel data analysis. The results confirm the assumptions. Furthermore, they indicate the importance of political stability and negative impact of voice and accountability.

One of the most important attributes of a competitive economy is the ability to innovate. This ability depends not only on technological progress and capital, but also on the environment in which innovation is implemented. Activities leading to innovations are costly and very risky. Companies are therefore looking for a stable environment. A stable environment can provide quality institutions, which include: the conditions for starting a business (so-called start-up), clear and transparent rules when dealing with public administration, investor protection, tax burden, low corruption, competence of public administration and its integrity, the same access to information, etc. Comparison of selected indices and their analysis shows that the trends in these indices have an impact on the innovation performance of countries. The last part will compare these selected indexes and scores together, show the results for EU 27, analyze them and confirm or refuse the relationships between these variables.