Abstract
Institutional Quality (IQ) and Institutional Governance (IG) are multi-dimensional concepts influenced by many indicators, making them researchable. Moreover, IQ in Asia is trending due to a diversified economy and development pattern. This paper investigates IQ in 25 Asian countries from 2009 to 2020 by taking Country Policy and Institutional Rating as a proxy of Institutional Quality as a dependent variable, State Fragility (SF) determinants, and Institutional Governance (IG) as independent variables. The two-step GMM estimation shows that IG determinants, corruption control measures, political stability, and voice and accountability environment significantly impact IQ and development in Asian economies. On the contrary, External Intervention in policy and state affairs and SF have an adverse effect on the IQ and demote the country's development progress. It concludes that IQ in Asian economies has been substantially influenced by the IG and SF determinants.
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