Searching for Growth-conducive Institutions in Emerging Economies: A Stochastic Frontier Analysis

Woon Kan Yap and Jenny Gryzelius and Andrew Tek Wei Saw (2023) Searching for Growth-conducive Institutions in Emerging Economies: A Stochastic Frontier Analysis. Politická ekonomie, 71 (5). pp. 1-29.

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Abstract

This study aims to identify growth-conducive institutions unique to emerging economies. For that purpose, we examine the roles ofAnglo-American institutions in fostering total factor productivity growth through the improvement of technical efficiency in emerging economies. Specifically, the impacts of the liberalistic and paternalistic types of regulatory institutions are discerned. The results show that institutional qualities such as reverence for the rule of law and effective governments robustly promote total factor productivity by improving technical efficiency, while voices of citizens and political stability exhibit a symbiotic relationship, where the efficacy of one of these qualities requires the sufficient prevalence of another. Regarding regulatory institutions, we found evidence that calls for protectionist policies to foster innovation, which is the key driver of technical efficiency

Item Type:	Article
Keyword:	Institutional quality, total factor productivity, technical efficiency, stochastic frontier analysis, strategic niche management
Subjects:	H Social Sciences > HG Finance > HG1-9999 Finance H Social Sciences > HG Finance > HG1-9999 Finance > HG3810-4000 Foreign exchange. International finance. International monetary system
Department:	FACULTY > Labuan Faculty of International Finance
Depositing User:	ABDULLAH BIN SABUDIN -
Date Deposited:	08 Feb 2024 15:50
Last Modified:	08 Feb 2024 15:50
URI:	https://eprints.ums.edu.my/id/eprint/38157

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