Institutional Quality and Economic Growth in the Non-EU Post-Soviet Countries: Does Energy Abundance Matter?

• Autorzy: Ilkin Gasimov , Farid Jabiyev , Gadir Asgarzade
• Języki publikacji: EN

Abstrakty

EN

After regaining independence, most of the post-Soviet countries encountered socio-economic difficulties during the transition period. These challenges were also accompanied by low institutional quality. Some of the post-Soviet countries, such as Russia, Turkmenistan, Kazakhstan and Azerbaijan, can be categorized as energy-rich, while the remaining countries are non-rich in terms of energy. Thereby, the aim of this study is twofold: first, to analyze the impact of institutional quality on economic growth in the case of non-EU post-Soviet countries, and second, to determine whether there is any difference in the link of institutional quality and economic growth between the energy-rich and non-rich sample countries. Two-Stage Least Squares reveal a U-shaped association between institutional environment and economic growth. Furthermore, the results suggest that this impact is lower in the energy-rich countries compared with their non-rich counterparts. With regards to the control variables, the findings indicate a positive and statistically significant impact of openness on economic growth. Finally, there is a negative association between the remaining control variables, such as inflation, population growth rate and the dependent variable.(original abstract)

Słowa kluczowe

EN

Institutions; Institutional economics; Economic growth; Least squares method; Energy raw materials

PL

Instytucje; Ekonomia instytucjonalna; Wzrost gospodarczy; Metoda najmniejszych kwadratów; Surowce energetyczne

• Czasopismo: Economics & Sociology
• Rocznik: 2023
• Tom: 16
• Numer: nr 2
• Strony: 139--147

Twórcy

autor

Ilkin Gasimov

• Baku Engineering University, Azerbaijan State University of Economics (UNEC)

autor

Farid Jabiyev

• Baku Engineering University, Karabakh Economic Research Center, Azerbaijan State University of Economics (UNEC), Academy of the State Customs Committee (ASCCA), Azerbaijan

autor

Gadir Asgarzade

• Baku Engineering University, Azerbaijan State University of Economics (UNEC)

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Identyfikatory

DOI

10.14254/2071-789X.2023/16-2/9