O43 - Institutions and GrowthNávrat zpět

This study investigates the effects of information and communications technology (ICT) on economic growth. Our study focuses on 16 MENA countries from 1995 to 2018. We examine not only the impact of ICT usage and investment but also the moderating role of the quality of national institutions shaping this relationship. The results obtained using the panel ARDL method suggest that while ICT usage drives economic growth, ICT investment alone has a limited effect. Moreover, our research confirms that higher-quality institutions boost the impact of ICT use and investment on economic expansion. These results are essential for policymakers who want to boost ICT's contribution to GDP growth.

The engine that drives prosperity in the modern world is the increasingly rapid emergence of useful knowledge. The aim of the paper is to present the basic ideas of the economic theory of innovation. The first part of the paper outlines the theory of endogenous growth and technological change. The second part reveals the nature of innovation. The third part presents creative destruction as part of technological development. The fourth part explains the paradox of progress: why we produce more from less. The fifth part outlines the future as an age of abundance.

This study aims to identify growth-conducive institutions unique to emerging economies. For that purpose, we examine the roles of Anglo-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.

The aim of this paper is to explore the influence of public debt structure on economic growth of advanced economies. The investigation mainly focuses on shifts in public debt structure which does not change the level of debt quota. Methodical approach follows similar exercises developed to evaluate the effects of tax shifts on economic growth. Debt decompositions are made according to i) original maturity of instruments; ii) currencies; iii) residency of creditors; iv) kind of instrument. The panel data regression of 24 OECD countries in the period from 2000 to 2014 is used. The main findings suggest that the structure of public debt matters to economic growth in every decomposition made. Moreover, it was found that shifts in debt structure which are neutral towards the level of debt quota could be associated with changes of economic growth rates. Hence, it is legit to deal with adequate public debt structure not only with debt level in terms of influencing the economic growth.

The paper works with assumptions, that the conclusions of mainstream approaches to the growth theory are problematical; there are alternative social-economic approaches to the theory of economic growth that offer more plausible explanations of the fundamental economic questions than the traditional views; both social-economic lines of thought and social-economic approaches to the growth theory are not systematized. Considering of these matters, the main aim of this paper is to propose original classification of contemporary social-economic approaches to the growth theory and consecutively to characterize these classified approaches. Two partial streams within the social-economic approaches to the growth theory based on formal conception of institutions (the approach primarily emphasizing the importance of political institutions, the approach primarily emphasizing the importance of economic institutions) have many common features (subjects, methodology, conclusions, exponents) and they together make prevailing stream of the contemporary social-economic growth theory. The growth theory of the new institutional economics based on the North's path dependency concept is still less profiled. This approach really accepts the conception of institutions of Douglas North.