SEMINARIO 17-10-2023: “Institutional Reforms and Economic Policies for Sustainable Economic Growth: The Mechanism and Target Variable"
Martedì 17 ottobre 2023, ore 12:00, Aula Seminari DESF, Cubo 0/C, piano terra.
Il Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" è lieto di invitarvi al seminario sul tema:
“Institutional Reforms and Economic Policies for Sustainable Economic Growth: The Mechanism and Target Variable”
Relatore: Prof. Joilson Giorno, Maringá State University, Brazil
Data e Ora: martedì 17 ottobre 2023, ore 12:00
Luogo: Aula Seminari DESF, Cubo 0/C, piano terra.
Si allega locandina dell'evento.
Institutional Reforms and Economic Policies for Sustainable Economic Growth: The Mechanism and Target Variable
Abstract:
This research paper examines the potential impact of anticipated institutional reforms and economic policies on entrepreneurial decisions and human capital development. Through a new proposed theoretical model and empirical simulations, it suggests that new proposed mechanism of pro-business institutional changes could fuel entrepreneurship and foster human capital accumulation and generates sustainable economic. To show how the mechanism works, we built a theoretical forward-looking model where entrepreneurs take into consideration future institutional quality for today ́s decision. The institutional quality works as a discount rate which is inversely to the average IRR prevailing in the economy. To test that, we built two new measures of institutional/economic policies quality using World Bank data based on IRR. The empirical approach confirmed our model and proposed target variable. By focusing attention on the target variable in the implemented institutional reforms and economic policies, countries attract new entrepreneurs’ investment that foster the demand for human capital generating sustainable long run economic growth. Institutions reforms and economic policies per se that do not improve IRR are hardly meaningful for long run economic growth, according to our model and results.
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