The Role of Good Governance in Economic Growth: Evidence from Income Groups

Document Type : Research Paper

Author

Faculty of Humanities and Social Sciences, Golestan University, Gorgan, Iran.

Abstract

This study explores the impact of governance indicators, , on economic growth across different income groups. Using dynamic panel data estimation with the one-step system GMM method, we analyze data from low-income (15 country), lower-middle-income (40 country), upper-middle-income (40 country), and high-income economies (52 country) in 2007-2022. The findings suggest that governance indicators have varying effects on economic growth depending on the income group. The analysis reveals that the impact of governance indicators on economic growth varies significantly across income groups. In low-income economies, "Control of Corruption" and "Regulatory Quality" have the strongest positive effects, emphasizing the critical role of governance improvements in fostering growth in these settings. For lower-middle-income economies, the "Rule of Law" and "Government Effectiveness" are key drivers, reflecting the importance of legal frameworks and efficient public services during economic transitions. In upper-middle-income economies, "Government Effectiveness" and "Voice and Accountability" are significant, though the moderate coefficients suggest structural and external constraints limit governance's role in driving growth. For high-income economies, "Regulatory Quality," "Rule of Law," and "Political Stability" are essential for sustaining growth, highlighting the role of efficient, stable, and innovation-friendly institutions. These findings underscore the evolving importance of governance indicators across development stages and the need for tailored institutional priorities to maximize growth potential. Interestingly, COVID-19 had a significant negative impact on economic growth across all groups, though its magnitude varied. The results show that the negative impact of the Corona shock on economic growth has increased as countries' income levels have decreased

Keywords

Main Subjects

Article Title [Persian]

نقش حکمرانی خوب بر رشد اقتصادی: شواهدی از گروههای درآمدی کشورها

Author [Persian]

  • حسن دلیری
دانشکده علوم انسانی و اجتماعی، دانشگاه گلستان، گرگان، ایران.
Abstract [Persian]

این مطالعه به بررسی تأثیر شاخص‌های حکمرانی خوب بر رشد اقتصادی در گروه‌های مختلف درآمدی می‌پردازد. با استفاده از برآورد داده‌های پانل پویا با روش سیستم یک مرحله‌ای GMM، داده‌های کشورهای کم درآمد (15 کشور)، با درآمد متوسط ​​پایین (40 کشور)، با درآمد متوسط ​​بالا (40 کشور) و پردرآمد (52 کشور) را در دوره 2007-2022 تجزیه و تحلیل می‌کنیم.  یافته‌ها حاکی از آن است که شاخص‌های حکمرانی بسته به گروه درآمدی تأثیرات متفاوتی بر رشد اقتصادی دارند. تجزیه و تحلیل نشان می دهد که تأثیر شاخص های حکمرانی بر رشد اقتصادی به طور قابل توجهی در گروه های درآمدی متفاوت است. در اقتصادهای کم درآمد، «کنترل فساد» و «کیفیت نظارتی» قوی‌ترین تأثیرات مثبت را دارند و بر نقش حیاتی بهبودهای حاکمیتی در تقویت رشد در این محیط‌ها تأکید می‌کنند. برای اقتصادهای با درآمد متوسط ​​پایین، «حاکمیت قانون» و «اثربخشی دولت» محرک‌های کلیدی هستند که نشان‌دهنده اهمیت چارچوب‌های قانونی و خدمات عمومی کارآمد در دوران گذار اقتصادی است. در اقتصادهای با درآمد متوسط ​​رو به بالا، «اثربخشی دولت» و «صدا و مسئولیت‌پذیری» قابل توجه هستند، اگرچه ضرایب متوسط ​​نشان می‌دهد که محدودیت‌های ساختاری و خارجی نقش حکمرانی را در محرک رشد محدود می‌کند. برای اقتصادهای پردرآمد، «کیفیت نظارتی»، «حاکمیت قانون» و «ثبات سیاسی» برای حفظ رشد ضروری هستند. جالب توجه است که COVID-19 تأثیر منفی قابل توجهی بر رشد اقتصادی در همه گروه‌ها داشت، اگرچه میزان آن متفاوت بود. نتایج نشان می‌دهد که با کاهش سطح درآمد کشورها، تأثیر منفی شوک کرونا بر رشد اقتصادی افزایش یافته است

Keywords [Persian]

  • حکمرانی خوب
  • رشد اقتصادی
  • داده های تابلویی
  • شوک کرونا

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History

  • Receive Date: 23 November 2024
  • Revise Date: 20 January 2025
  • Accept Date: 21 January 2025

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