Institutional Quality and Economic Performance: A Study of Asian Countries

IF 1.3 Q1 AREA STUDIES Millennial Asia Pub Date : 2024-03-08 DOI:10.1177/09763996241233818

Alfa Rani Nayak, Kailash Chandra Pradhan

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Abstract

The objective of this article is to investigate the influence of institutional quality on the economic performance of 47 Asian countries, categorized into four income levels (low-income, lower-middle-income, upper-middle-income and high-income countries) over the period 1981–2021. The study utilizes six governance indicators, and a composite governance index is constructed to evaluate institutional quality. Economic performance is assessed through three key indicators: real gross domestic product (GDP), real GDP per capita (GDPPC) and the human development index (HDI). Except for HDI data, all variable data were sourced from the World Bank, while HDI data were obtained from the UNDP. The study employed panel regression, panel co-integration techniques and the autoregressive distributed lag model. The findings indicate that governance indicators have a positive and significant impact on GDP, GDPPC and HDI in Asian countries. Moreover, the study reveals that the influence of governance indicators on economic performance is more pronounced in high-income countries compared to other income levels in Asia. Consequently, the research emphasizes the importance of focusing on governance indicators for fostering economic growth and enhancing HDI in Asian countries.

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机构质量与经济表现：亚洲国家研究

本文旨在研究 1981-2021 年间制度质量对 47 个亚洲国家经济表现的影响，这些国家分为四个收入水平（低收入国家、中低收入国家、中高收入国家和高收入国家）。研究采用了六个治理指标，并构建了一个综合治理指数来评估机构质量。经济表现通过三个关键指标进行评估：实际国内生产总值（GDP）、实际人均国内生产总值（GDPPC）和人类发展指数（HDI）。除人类发展指数数据外，所有变量数据均来自世界银行，而人类发展指数数据则来自联合国开发计划署。研究采用了面板回归、面板协整技术和自回归分布滞后模型。研究结果表明，治理指标对亚洲国家的 GDP、GDPPC 和 HDI 有积极而显著的影响。此外，研究还显示，与亚洲其他收入水平的国家相比，高收入国家的治理指标对经济表现的影响更为明显。因此，这项研究强调了关注治理指标对于促进亚洲国家经济增长和提高人类发展指数的重要性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Millennial Asia AREA STUDIES-

CiteScore

4.50

自引率

12.50%

发文量

期刊介绍： Millennial Asia: An International Journal of Asian Studies is a multidisciplinary, refereed biannual journal of the Association of Asia Scholars (AAS)–an association of the alumni of the Asian Scholarship Foundation (ASF). It aims to encourage multifaceted, multidisciplinary and interdisciplinary research on Asia, in order to understand its fast changing context as a growth pole of global economy. By providing a forum for Asian scholars situated globally, it promotes dialogue between the global academic community, civil society and policy makers on Asian issues. The journal examines Asia on a regional and comparative basis, emphasizing patterns and tendencies that go beyond national borders and are globally relevant. Modern and contemporary Asia has witnessed dynamic transformations in cultures, societies, economies and political institutions, among others. It confronts issues of collective identity formation, ecological crisis, rapid economic change and resurgence of religion and communal identifies while embracing globalization. An analysis of past experiences can help produce a deeper understanding of contemporary change. In particular, the journal is interested in locating contemporary changes within a historical perspective, through the use of interdisciplinary and multidisciplinary approaches. This way, it hopes to promote comparative studies involving Asia’s various regions. The journal brings out both thematic and general issues and the thrust areas are: Asian integration, Asian economies, sociology, culture, politics, governance, security, development issues, arts and literature and any other such issue as the editorial board may deem fit. The core fields include development encompassing agriculture, industry, regional trade, social sectors like health and education and development policy across the region and in specific countries in a comparative perspective.