| Autor: Danuta Miłaszewicz | 5 |
Strony: 5-24
pełen tekst
THE QUALITY OF INSTITUTIONS AND ECONOMIC GROWTH
Summary
The theory of economics and empirical research emphasise the relevance of institutions and the quality of their activity to the economic processes taking place in individual economies. There are several measures used to evaluate the quality of formal institutions, the Index of Economic Freedom being one of them. This index is a simple average of ten individual freedoms, each referring to personal or national prosperity, and can be used to evaluate the quality of institutions in an economy. The level of economic freedom in turn determines to a large extent a country’s economic growth. This paper uses the Index of Economic Freedom to interpret the relationship between the quality of institutions and growth in Poland and selected groups of countries.
pełen tekstTHE QUALITY OF INSTITUTIONS AND ECONOMIC GROWTH
Summary
The theory of economics and empirical research emphasise the relevance of institutions and the quality of their activity to the economic processes taking place in individual economies. There are several measures used to evaluate the quality of formal institutions, the Index of Economic Freedom being one of them. This index is a simple average of ten individual freedoms, each referring to personal or national prosperity, and can be used to evaluate the quality of institutions in an economy. The level of economic freedom in turn determines to a large extent a country’s economic growth. This paper uses the Index of Economic Freedom to interpret the relationship between the quality of institutions and growth in Poland and selected groups of countries.