Per capita income and institutions: an empirical analysis

Authors

  • Luciano Ferreira Gabriel Universidade Federal de Juiz de Fora, Brasil
  • André Dannemann Werberich da Silva Universidade Federal de Viçosa, Brasil
  • Luciano Dias de Carvalho Universidade Federal de Viçosa, Brasil

Keywords:

Political institutions, Economic institutions, Per capita income

Abstract

The main objective of this article is to empirically analyze how political and economic institutions quality influence the economic development of countries. For this purpose, a sample of 151 countries in the period from 2000 to 2020 was used for panel data estimations. The main results suggest that political and legal institutions that suffer from greater influence of the armed forces as well as the low quality of laws concerning property rights have a more intense and negative impact on per capita income of developing countries. In addition, it was verified that the greater income inequality, by benefiting a few society sectors with greater political representation, negatively influences the per capita income level.

Author Biographies

Luciano Ferreira Gabriel, Universidade Federal de Juiz de Fora, Brasil

Dr. Luciano Ferreira Gabriel (Corresponding Author).

Associate Professor at Economics Department,

National Council for Scientific and Technological Development Researcher (CNPq)

Federal University of Juiz de Fora,

Adresse: Campus Universitário, Rua José Lourenço Kelmer, s/n - São Pedro, Juiz de Fora - MG, 36036-900

Tel: (31) 99478-0835

Email: luciano.gabriel@ufjf.br

André Dannemann Werberich da Silva, Universidade Federal de Viçosa, Brasil

Mestre em economia pela UFV, Economista pela UFV, Pesquisador do Departamento de Economia da UFV.

Luciano Dias de Carvalho, Universidade Federal de Viçosa, Brasil

Ele possui Mestrado e Doutorado em Desenvolvimento Econômico pela Universidade Federal do Paraná-UFPR. Atualmente, é professor adjunto na Universidade Federal de Viçosa-UFV. Foi coordenador do curso de Ciências Econômicas de 2015 a 2018. Tem experiência em Economia, com ênfase em Teoria Macroeconômica Keynesiana e Desenvolvimento Econômico, atuando principalmente nos seguintes temas: Crescimento Econômico, Macroeconomia Pós-Keynesiana e Sistemas Dinâmicos Não Lineares.

Professor associado na UFV.

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Published

2024-12-30

Issue

No. 34 (2024): N° 34: JUL-DEC 2024

Section

Science article

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