Institutional develoment and economic growth
Journal Title: VUZF - Year 2018, Vol 1, Issue 1
Abstract
The aim of this paper is to define some basic concepts, regulating the interrelationship between institutional development and economic growth. The main characteristics and traits of institutions are discussed. Also, the paper provides some general information on the main particularities of economic institutions, political institutions and the linking element in this interrelationship, which we define as political power. In addition, the paper analyzes the role of competition as an important factor in institutional and economic development, as well as the role of the regulating laws.
Authors and Affiliations
Julia Dobreva
Keywords
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