Institutions, Economic Growth and International Competitiveness: A Regional Study

Wanjiru, Roseline and Prime, Karla (2018) Institutions, Economic Growth and International Competitiveness: A Regional Study. In: Contemporary Issues in International Business. The Academy of International Business . Palgrave MacMillan, pp. 99-124. ISBN 9783319702193

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Official URL: https://doi.org/10.1007/978-3-319-70220-9_6

Abstract

This chapter focuses on institutions as key determinants of economic growth. We explore the effect of institutions in the Caribbean region that tends to be overlooked within mainstream IB research. Using a three-stage model, we test for cross-national variance and the influence of institutions on productivity and output. We found that institutions influence long-run economic performance and that some institutions matter more than others. Our evidence suggests that institutions designed to regulate and legitimise markets and constrain inefficiencies, significantly affect levels of productivity . In turn, institutions designed to stabilise markets could have a growth-maximising effect beyond which increased bureaucracy reduces incentives to increase productivity.

Item Type: Book Section
Subjects: L100 Economics
N100 Business studies
Department: Faculties > Business and Law > Newcastle Business School
Related URLs:
Depositing User: Becky Skoyles
Date Deposited: 05 Mar 2018 12:49
Last Modified: 27 Feb 2020 03:30
URI: http://nrl.northumbria.ac.uk/id/eprint/33594

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