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Institutions and policies for growth and poverty reduction: the role of private sector development

journal contribution
posted on 2007-01-01, 00:00 authored by R Hasan, D Mitra, Mehmet UlubasogluMehmet Ulubasoglu
This paper goes over some of the recent discussions on the effects on growth and poverty of institutions and policies, especially those that relate to the functioning of the private sector. It examines the empirical relationship between various measures of institutional quality and regulatory policies, and economic growth and poverty. The results suggest that good governance, as measured by a strong commitment to the rule of law, among other things, matters for poverty reduction largely through its effect on economic growth. In terms of business regulations, the paper finds that less restrictive regulations pertaining to starting a business are associated with higher economic growth as well as lower rates of $2-a-day poverty. Political freedom is not associated with either higher growth or lower poverty. Taken together, the evidence here seems to suggest that the delivery of good governance and policies that facilitate the creation of new enterprises are more relevant for growth and poverty reduction than the nature of the political system per se.

History

Journal

Asian development review

Volume

24

Issue

1

Pagination

69 - 116

Publisher

Asian Development Bank

Location

Manila, Philippines

ISSN

0116-1105

Language

eng

Publication classification

C1 Refereed article in a scholarly journal

Copyright notice

2007, Asian Development Bank

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