The Impact of Formal and Informal Institutions on Economic Growth
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Peter Lang International Academic Publishers
Abstract
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Regarding the Arab region, GDP per capita virtually stagnated for more than 20 years from 1980. During the same period, GDP per capita in the world’s highly industrialized states further increased and the gap between the Middle East and North Africa (MENA) and the highly developed countries widened. However, the differences between Arab countries and the Western states exist not only economically. The countries also differ regarding their political, legal, and social systems. This work explains the differences in development on the basis of institutional economics. In addition to a general theoretical part, an empirical analysis demonstrates the effects of institutions on income, and a historical case study explains the divergent development paths of the Arab region and selected advanced economies.
Keywords
Case, Cultural economics, Dobler, Economic, Empirical institutional analysis, Formal, Growth, Impact, Informal, Institutions, MENA, Political economics, Region, Study, thema EDItEUR::J Society and Social Sciences::JH Sociology and anthropology, thema EDItEUR::J Society and Social Sciences::JP Politics and government, thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy, thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCG Economic growth, thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCM Development economics and emerging economies, thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy, thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCZ Economic history