Institutions In Economic Development Research Articles

From a sports mega-event to a regional mega-project: the Sochi winter Olympics and the return of geography in state development priorities

ABSTRACTThis article explores the relationships between sport, space and state in the 2014 Sochi Winter Olympics. While the extant literature has predominantly attributed the Russian government’s motives behind hosting the Olympics to showcasing Putin’s Russia, this article provides a more nuanced account of the Sochi project in light of its entanglements with regional development and its implications for Russia’s spatial governance. It argues that Sochi has been an important experimental space for the federal state in its reconstitution and re-territorialisation of the institutions of economic development. The Sochi project signposts a dual process: the return of regional policy to the state’s priorities and a (selective) return of the federal state to urban development. Whilst not without controversies and inconsistencies, this practice signifies a re-establishment of strategies seeking a more polycentric economic development, including through supporting places on Russia’s less developed peripheries. The article also presents insights into the practical operations of the Sochi project and its legacies, including most recent data on the disbursement of its budget.

Unbundling the roles of human capital and institutions in economic development

We note this article is a duplicate of another paper already published. The Publisher regrets that this article is an accidental duplication of an article that has already been published, http://dx.doi.org/10.1016/j.ejpoleco.2016.08.001. The duplicate article has therefore been withdrawn. The full Elsevier Policy on Article Withdrawal can be found at http://www.elsevier.com/locate/withdrawalpolicy.

The World Bank as a Development Teacher

The World Bank has been widely critiqued as a source of development norms. Yet one aspect of its activities has received relatively little academic attention: the socialization of development norms through training programs. This article addresses this gap in the literature by analyzing changes in the curricula, pedagogy, and methodology of the Economic Development Institute and the World Bank Institute—the teaching and learning arm of the World Bank. The article argues that, unlike the coercive nature of World Bank loan conditionality, the two teaching institutes have operated quietly in the background attempting to persuasively habitualize and naturalize member country participants into accepting particular understandings of and approaches to development as best practice and common sense. It concludes that the institutes have been active in the creation of toolkits used to socialize individuals into accepting and following World Bank development norms.

Unbundling the roles of human capital and institutions in economic development

This research uses predicted genetic diversity unadjusted for the ancestral composition of current populations, as a plausible source of exogenous variations for indicators of economic institutions. While genetic diversity has a robust, concave and significant effect on economic institutions, reduced-form regressions and numerous falsification tests ostensibly suggest that genetic diversity affects development only via indices of multidimensional measures of economic institutions. Second-stage results indicate that allowing for cognitive skills, latitude and ethno-diversity, economic institutions exert a positive and strongly statistically significant effect on development. These findings are robust to the inclusion of deep and proximate growth determinants, different measures of geography, institutions, and horse races between cognitive skills and economic freedom, as well as to the use of different estimators. Human capital, gauged by cognitive skills, in most specifications is not significant in the second stage; however, it is positive and a strong significant predictor of economic institutions in the first stage. The empirical evidence unveiled in this study lends credence to the primacy of economic institutions hypothesis to ignite long-term growth and highlights the crucial role of human capital in enhancing economic institutional quality.

Institutions, capital control, and liquidity creation

Purpose The purpose of this study is to conduct an empirical investigation on how country-specific characteristics such as the quality of the institutional environment and the restrictiveness of capital control policy affect domestic financial sector’s ability to provide liquidity to the economy. Design/methodology/approach This study uses panel regressions on international banking data across 102 countries from Bankscope. Findings The results show that strong institutions and looser capital control in a country enhance the banks’ role as the liquidity provider to the economy. The study also finds that institutional quality and capital control have a dynamic effect that influences the creation of liquidity. Better institutions benefit the creation of liquidity in either under normal economic conditions or during economic downturn. Loosened capital control, as a result of financial openness, facilitates liquidity creation under normal economic conditions. Originality/value This study complements the research on the role of country-level institutions in financial and economic development and suggests a liquidity channel through which a country’s institutions can further economic growth. The study also provides evidence on the impact of a country’s control of capital flows on the role of banking sector in domestic economy.

Pembangunan Ekonomi dalam Prespektif Islam: (Satu Analisis Pesantren Gontor dalam Memberdayakan Ekonomi Masyarakat)

Pesantren is an educational institution that was born out of the historycal product having relasition whith the coming of Islam into the archipelago. Its presence has provided a new model for the life of Indonesian society in particular. Be it in the form of socio-political, socio-cultural, socio-economic and socio-religious. in this case it is happens because schools were created rather than the hopes and ideals of society that makes the moral values of Islam as the foundation concepts and motivation charity. It is no exaggeration if the orientation of the establishment of pesantren to spawned man a dedicated to the community and have the personality of the Prophet. As self-sufficient, have a noble and beneficial to society. Gontor has exists since 90 years ago, at least has positioned itself at strategic places, namely; become an institution of religious knowledge development, a seedbed of human resources, and institutional economic development. Economic development here is intends a comprehensive development (multi-dimensional) which covers various aspects; physical, spiritual or moral. The principle of the implementation of human empowerment is based on the concept of tauhid and aims at gaining God’s pleasant (redho Allah s.w.t.). This study used a qualitative case study method with three data collection techniques, such as observation, interviews and documentation in Pesantren Gontor Ponorogo Indonesia. This paper will present how strategy pesantren Gontor in empowering the community, and the extent of its role in economic development based on Islam.

Testing the Level and Factors of Institutional Rationality in Montenegro, Serbia and Bosnia and Herzegovina

(ProQuest: ... denotes formulae omitted.)IntroductionInsufficient level of development of the institutions and dissatisfactory character of their use in practice represent a big problem in Montenegro, Serbia and Bosnia and Herzegovina. Many of the influential economists explained the importance of institutions for economic development. D. North (1987), R. Levine and W. Easterly (2003) concluded that development of institutions is the only variable that can explain the difference in the achieved level of development between countries.The existence and reproduction of institutional deficit in the economic sense are reflected through the low level of institutional rationality. This problem is manifested through high transaction costs and bad economic indicators. Consequences are numerous, and some of the most significant ones are as follows: low living standard, economic downturn, insufficient motivation to increase economic efficiency, high monopolization, connections between business and the authorities, degradation of production activity and national resources, underdeveloped ownership structure in entrepreneurial activities, boom of privileged entrepreneurship (individualism), high degree of non-market enrichment and social differentiation, significant scope of disinvestment, etc.Due to the aforementioned, this paper analyzes perception of the level of institutional rationality (dependent variable) and its basic (selected) impact factors (independent variables) in the mentioned countries of South East Europe (SEE).In these countries the official economic policy was, and still remains, neoliberal. Many authors emphasize that it actually experienced a fiasco, and that it was even abused by the establishments (nomenklatura) in power. For that reason, it is logical that it is blamed for all of the economic mistakes. Because, an economy is not comprised of economic entities only, which mutually interact, but there is also a system of institutions that guide and direct them.The recent global economic crisis showed that neoliberal monistic theses of uncontrolled and self-regulatory market are ungrounded. An additional problem in the observed countries of SEE is the opportunistic activity of the so-called alternative institutions, which represent the very heart of the inhibitors to development. It is considered that out-of-market distribution of privileges lead to numerous conflicts not only between the different manners of organization of political and economic activity in the country, but within these social sub-systems as well. Besides, following the expressed institutional monism of a neoliberal type, it was suitable for the development of alternative institutions, which prevented the establishment and strengthening of pluralistic institutions (Delibasic, 2016, p. 150). Numerous economists from the SEE countries agree that deficit, rejection, ignoring and imitation of real institutional changes enabled for the domination of interest-oriented anti-institutional development inhibitors.State regulation represents an important economic institution. Its function is to create the conditions for the development of all other economic institutions (market and property regulation) in accordance with the social preferences. In order to do that, it is necessary to have efficient legislative, judicial and executive power. For that reason, the rule of law is marked as the first factor of impact on the level of institutional rationality. The second factor of impact is the level of development and efficiency of pluralistic institutions. The third factor of impact is the development of the overall institutional environment, comprised of the civil society and the socio-cultural capital. Finally, the fourth important factor of impact is the existence of the opportunistic behavior (privileged, corruptive and non-market) and the corresponding alternative institutions - shadow ones (Infante and Smirnova, 2016, pp. …

De Nederlandse smokkelhandel, 1600-1800

This special issue considers the implications of smuggling for the early modern Dutch economy. Despite a developed literature on trade and institutional economics the scale and importance of contraband trade and mercantile tax evasion are rarely taken into account. This introduction to the special issue discusses which methodological innovations can be employed to reconstruct illegal activities and what the results are of combining international bodies of sources to this end. The preliminary findings have important repercussions for historical studies of trade and for the appreciation of the role of formal institutions in early modern economic development.

Crises and The Development of Economic Institutions: Some Microeconomic Evidence

This paper studies the long run effects of financial crises using new bank and town level data from around the Great Depression. We find evidence that banking markets became much more concentrated in areas that experienced a greater initial collapse in the local banking system. There is also evidence that financial regulation after the Great Depression, and in particular limits on bank branching, may have helped to render the effects of the initial collapse persistent. All of this suggests a reason why post-crisis financial regulation, while potentially reducing financial instability, might also have longer run real consequences.

Further Unbundling Institutions

This paper analyzes the effects of institutions on economic development, and focuses on separating political institutions from contracting and economic institutions. For a sample of former European colonies, I find that differences in income levels are strongly affected by political institutions, which regulate political accountability and constrain political elites. There is some evidence for a positive effect of economic institutions, which protect property rights, but no evidence for positive effects of contracting institutions, which facilitate contracting among individuals. A decomposition of GDP reveals that political institutions work through the channel of physical and human capital accumulation. Economic institutions have a positive impact on total factor productivity. To identify and unbundle effects, I exploit exogenous variation in each of the three institutions using instrumental variables based on colonial history and geographic endowments. The application of a recently developed test for weak instruments in the multiple endogenous variables setting shows that the effects of institutions can be separated. The paper adds to the literature by identifying the fundamental importance of political institutions for economic development, and provides an inside into the channels through which specific institutions affect income levels.

Multidimensional Assessment of R&D Performance: Evidence from the 2014 Pilot Evaluation Exercise of Russian Public Research Organizations

Research evaluation recently became a widely disseminated exercise aimed in the end of the day at improving the cost efficiency of public funding of national R&D sectors. In November 2013, the Government of the Russian Federation initiated a national evaluation exercise of public research organizations (PROs) to provide information basis for development of S&T policies aimed at increasing effectiveness and strengthening the role of R&D performing institutions in economic and social development. The aim of this paper is that of providing an approach for multidimensional assessment of R&D performance based on quantitative data derived from the national evaluation exercise, specifically looking at its applicability and limitations for further analysis and preliminary differentiation of PROs as well as for use in policymaking.

REDISCOVERING AMERICA: POLITICAL ECONOMY OF SPANISH COLONIES ACCORDING TO THE EXPLORERS JUAN-ULLOA, MALASPINA AND HUMBOLDT

ABSTRACTTwo scientists and sailors from the Spanish Navy, Jorge Juan and Antonio de Ulloa, the Italian sailor and explorer Alessandro Malaspina, and the German sage Alexander von Humboldt were the main actors in three great voyages to Spanish America between the second-third of the 18thcentury and the beginning of the 19thcentury. This enabled them to provide three first hand«photographs»of the state of the Spanish empire in America at three different moments in time: approximately before, during and after the implementation of colonial reforms designed in the reigns of Ferdinand VI and Charles III. This work aims, in the first place, to compare the socio-economic views of Spanish America deriving from the three expeditions, highlighting similarities and differences. Second, this work aims to connect the analysis of the weaknesses of the politico-institutional organisation of Spanish colonies, which the four travellers did at first hand, with the present debate on the role of colonial institutions in long-term economic development.

Measuring the drivers of gender inequality and their impact on development: the role of discriminatory social institutions

This paper highlights the key role of discriminatory social institutions – formal and informal laws, social norms, and practices – as the underlying drivers of gender inequality. Using the Social Institutions and Gender Index (SIGI) from the OECD Development Centre, this paper assesses the cost of gender-based discrimination in social institutions for economic and human development. Quantifying such complex issues is a powerful lever for advocacy, where rights-based arguments have tended to gain less traction. The paper provides evidence that measuring the invisible is feasible and critical to position social norms on the policy radar. It demonstrates that any truly transformative post-2015 development agenda must take into account how such inequalities impact the development pathways of women and girls across their entire life course, limiting their rights and empowerment opportunities.

Economic Institutions of Russian Academic Science

In this paper, the basic provisions of the transactional theory of economic institutions of science are examined. It is shown that contemporary institutional theory of science determines the formation of economic and theoretical perspectives and applied methodologies for assessing the development of economic institutions. Results are presented from the authors’ many years of empirical analysis of factors affecting Russian economic invention institutions, scientific publications and academic mobility. DOI: 10.5901/mjss.2015.v6n3p617

The Role of Higher Education Institutions in Innovation and Economic Development

quality improvement purposes. Tertiary education institutions that look at detailed ranking data for benchmarking purposes can use specific indicators to understand the determinants of their performance and then work toward improving the quality of teaching and research. At the government level, use rankings to stimulate a culture of quality. In countries that do not yet have a well-established quality assurance system, rankings can be used as a proxy for quality. Similarly, at the international level, in the absence of a single global quality assurance agency, ranking systems take on some characteristics of a quality regulator for international students. Use rankings as one of the instruments available to inform stakeholders. Rather than being considered as the ultimate measure of quality and/or relevance, rankings should be complemented by information on accreditation and labor market outcome data collected through surveys of employers and tracer surveys. The results of league tables can also serve to generate a national debate about long-term strategic priorities and policies for tertiary education.

Some Evidences from Indonesia on the Importance of Institutions for Determining 'Pro'Poor' Growth

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Сущностные характеристики социальных институтов экономического развития государства

In this paper using of the conceptual content of the concept of “institution” described. The regulatory, informational, evolutionary, transactional and organizational approaches to the definition of the concept of “institution” are analyzed. The definitional, status and functional characteristics of social institutions of economic development of the country are analyzed and discussed.

Local institutions and local economic development: the Local Enterprise Partnerships in England, 2010-

This paper examines the roles of local institutions in economic development at the local level. Drawing upon comparative analysis of the 39 local enterprise partnerships emergent in England since 2010, it demonstrates: how local economic development institutions work within multi-agent and multi-scalar institutional settings; the ways institutional genealogy shapes processes of layering and recombining as well as dismantling and improvising in episodes of institutional change and the analytical themes able to explore the roles and functions of institutions in local economic development.

THE FORMATION OF INSTITUTIONAL ENVIRONMENT OF AGRICULTURAL LAND CONSOLIDATION IN UKRAINE

Every theory requires an application tool. Land consolidation is the multidisciplinary tool for sustainable rural development with its dynamic structure that gives possibilities getting the best solutions for land management decision. That is why the main purpose of the article is a theoretical study and development of scientific and practical recommendations concerning the formation of institutional environment of agricultural land consolidation in Ukraine. The subject of study is the formation of agricultural land consolidation. Methodology. The study used the following methods: dialectical, logical and abstract, system analysis (theoretical and methodological generalizations, defining the essence of the content of institutional environment of agricultural land consolidation). This paper identifies the role of the institutions in economic development and characterised the regulatory, procedural, distributive, informational, development and accumulation functions of agricultural land consolidation institution. As a novelty items offered and provided the detailed description of the main components of the institutional environment of agricultural land consolidation such as: traditional and mental, legal, causal, organizational and structural, and procedural. The essence of institutions of each of these components and their meaning and relationships are presented. Theoretically investigated that the formation of institutional mechanism of consolidation should be a symbiosis of both traditional and market institutions based on democratic principles under community participation. The article focuses on the feasibility of the formation of mechanism for monitoring the effectiveness of institutions. As the result of the study the author proposed to consider the institutional environment of agricultural land consolidation as a regulatory system harmonizing relations of the agricultural production, social and natural resources, designed to optimize the production, based on the actual requirements and restrictions of the existing institutes and institutions to guarantee a rational use of land resources. Practical implications. Analysis of current situation in Ukraine suggests that the urgent task is particularly not only to create, design and import of the land consolidation institutions but also to provide the diagnostic of their maturity and suitability for the current level of the land consolidation relations. This conclusion is supported with the lack of a specific state policy on development of land consolidation and distrust in government initiates. The author also provides a list of necessary actions required for the development of the agricultural land consolidation in Ukraine.

Institutional Economics: The Past, the Present and the Future

The emergence and development of Institutional Economics are examined and interpreted in detail in historical context from Veblen's founding position onward. Major contributions to institutional economic thought, coming from such figures as Commons, Myrdal, Ayres, Coase, North, Williamson, Hodgson etc. are analyzed in order distinguish among its neo-institutional, new institutional and original institutional versions. The likelihood of and conditions for Institutional Economics to succeed as an alternative to neoclassical mainstream are also discussed.