QUALIDADE INSTITUCIONAL E CRESCIMENTO ECONÔMICO

Abstract

Investigating the effects of political and institutional factors – bureaucratic efficiency, absence of corruption, democracy and political stability – on economic growth is the main objective of this paper. By relying on the endogenous growth theoretical framework and considering panel data for more than 100 countries for four decades (1960, 1970, 1980, 1990), it is built a simultaneous equation with limited and continuous dependent variables econometric model where is interacted institutional quality and economic growth. From the estimations and simulations it is inferred that the institutional quality not only affect the level of long run growth but also indicates that the first step embodied in a sustainable growth politicy is through the effectiveness of mechanisms so as to guarantee an institutional organization capable to promote those factors that cause and maintain the long run growth.