Any RELATIONSHIP between a country's POLITICAL STABILITY, INSTITUTIONAL QUALITY, and its real GDP per capita?

Question

There are quantitative measures nowadays for seemingly abstract things such as a country's political stability and institutional quality. That being said, is there any relationship at all between a country's political stability, institutional quality, and its (real) GDP per capita? If so, what are they, and why?

Would this be a significant study? If so, why?

Answer 1

Some studies of this nature have already been done, mostly through the OECD and the various UN agencies.

Generally, the relationship between the three is found to be positively correlated. Political Stability tends to form generally high quality institutions (although there are some exceptions, notably in self-sustaining corrupt institutions which may tend towards political stability albeit high inefficiency), and high quality institutions tend to be more efficient, which lends itself well to GDP growth.

Some suggested readings:

Answer 2

i could advise you to think again your unique proposition that evaluating the U. S. to all of Europe is a honest evaluation. investigate the CIA international reality e book or maybe Wikipedia. you will locate that the U. S. would not have the utmost in step with capita GDP and that numerous of the counties with larger GDP are in Europe. eire, to illustrate, has larger GDP than the U. S.. some could characteristic that to the reality that eire has decrease tax expenditures than united statesa.. even regardless of the indisputable fact that, you additionally can locate examples like Sweden, which has lots larger tax expenditures than the U. S., yet compares favorably in terms of GDP in step with capita. Like many macroeconomic factors, what impacts in step with capita GDP is a complicated count. Is is a function of many stuff, at the same time with technological capacity, experienced labor (preparation), good functioning markets for products and facilities, and social danger, to call some.

Answer 3

relationship is positive, I am sure there are studies done on that, use http://scholar.google.com to look for them.