Liberdade Econômica: um teste dos processos de convergência e dos impactos da qualidade institucional sobre o desenvolvimento e o crescimento econômico

Authors

  • Marcio Antonio Salvato IBMEC MG
  • Rodrigo Castriota de Mello Santos PUC - MG

DOI:

https://doi.org/10.18836/2178-0587/ealr.v2n2p244-263

Keywords:

Futebol, crianças, teste específico, escola esportiva

Abstract

This paper aims to estimate the effect of institutional quality on the level and growth of per capita income, following Cole (2005) and using a consistent estimator for dynamic panel data proposed by Arellano and Bond (1991). Moreover, it intends to estimate the possible convergence processes of institutional quality by testing the convergence hypothesis using β-convergence (absolute and conditional) and σ-convergence models. As a proxy for institutional quality, the indices of economic freedom by Miller and Holmes (2010) were used. The results point to the non-rejection of the institutional quality significance on economic growth and development hypothesis, supporting the theoretical framework of New Institutional Economics (NIE). They also suggest that there was some convergence process of the indices of economic freedom in the 1997 to 2007 period.

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Author Biographies

Marcio Antonio Salvato, IBMEC MG

Doutor em Economia pela EPGE-FGV/RJ

Professor do Departamento de Economia do IBMEC MG

Rodrigo Castriota de Mello Santos, PUC - MG

Departamento de Economia, IBMEC/MG

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Published

2011-09-14

Issue

Vol. 2 No. 2 (2011): Economic Analysis of Law Review

Section

Papers

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