On the Predictability of Institutional Environment
| Authors | |
|---|---|
| Year of publication | 2011 |
| Type | Article in Proceedings |
| Conference | Mathematical Methods in Economics 2011 |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | Institutional environment predictability time-series ARI process economic performance |
| Description | The aim of this paper is to develop method for evaluating the predictability of the institutional environment. It is based on standard time-series analysis and suggests two measures of predictability. This method is applied on development of property rights protection level which is approximatively described by index based on expert evaluation from International Country Risk Guide (ICRG). Obtained measures of predictability are tested using econometric model with cross-sectional data and recognized as a significant predictor of economic performance. |
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