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Liberdade Econômica: Um Teste dos Processos de Convergência e dos Impactos da Qualidade Institucional Sobre o Desenvolvimento e o Crescimento Econômico

DOI: http://dx.doi.org/10.18836/2178-0587/ealr.v2n2p244-263

http://portalrevistas.ucb.br/index.php/EALR/index 

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Marcio A. Salvato1 & Rodrigo C. M. Santos2

 

Resumo: Este trabalho busca estimar o efeito da qualidade institucional sobre o nível e crescimento da renda per capita seguindo Cole (2005) e utilizando um estimador consistente para dados em painel dinâmico proposto por Arellano e Bond (1991). Além disso, pretende-se estimar possíveis processos de convergência da qualidade institucional testando a hipótese de convergência a partir dos modelos de 5- convergência (absoluta e condicional) e 6- convergência. Como proxy para a qualidade institucional foram utilizados os índices de liberdade econômica de Miller e Holmes (2010). Os resultados apontam para a não rejeição da hipótese de significância da qualidade institucional sobre o desenvolvimento e crescimento econômico, corroborando com o arcabouço teórico da Nova Economia Institucional (NEI). Além disso, concluiu-se que ocorreu algum processo de convergência para os índices de liberdade econômica no período de 1997 a 2007.

Palavras-chave: Desenvolvimento, Crescimento, Liberdade Econômica, Nova Economia Institucional.

 

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 5- convergence (absolute and conditional) and 6- 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.

Key words: Development, Growth, Economic Freedom, New Institutional Economics.

 

1 Departamento de Economia, IBMEC/MG. E-mail- marcio.salvato@gmail.com.
2 Departamento de Economia, IBMEC/MG. E-mail - castriota@gmail.com.

 

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