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Institutional complementarity for social and economic development

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dc.title Institutional complementarity for social and economic development en
dc.contributor.author Bilan, Yuriy
dc.contributor.author Vasilyeva, Tetyana
dc.contributor.author Lyeonov, Serhiy
dc.contributor.author Bagmet, Kseniya
dc.relation.ispartof Business: Theory and Practice
dc.identifier.issn 1648-0627 Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued 2019
utb.relation.volume 20
dc.citation.spage 103
dc.citation.epage 115
dc.type article
dc.language.iso en
dc.publisher Vilniaus Gedimino technikos universitetas
dc.identifier.doi 10.3846/BTP.2019.10
dc.relation.uri https://btp.press.vgtu.lt/article/31937/
dc.subject Complementarity en
dc.subject Dimensions of governance en
dc.subject Economic development en
dc.subject Institutional quality en
dc.subject Institutions en
dc.subject Social sector en
dc.description.abstract Today the prevention of global challenges (from global security to the problems of poverty) relates to the institutional quality. Nowadays, the social standards or other “social rules” make the part of the market system, since they are built into the country’s institutional structure. Neither social nor economic reforms can be implemented without the support through institutional mechanisms. The purpose of this paper is to explore the relationship between social sector institutions and basic institutions, taking into account the economic development of countries and the way in which they are formed. A number of empiric studies confirmed significant role of institutions to provide conditions for economic development. In order to define and assess the link between the basic institutions and the social sector institutions, we formed panel data that includes 20 countries for the period from 2007-2014. We assessed quality of the basic institutions using The Worldwide Governance Indicators (WGI). WGI methodology provides an evaluation of six dimensions of the institutional quality that enables to define the connection and the impact of every dimension on the institutional quality of the social sector. The model additionally evaluates the impact of the incomes distribution inequality, general economic welfare on the institutional quality of the social sector. Among all dimensions of governance “Rule of Law” and “Regulatory Quality” the statistically significant direct impact on the institutional quality of the social sector has been revealed. It confirms the complementarity of basic institutions and institutions of the social sector. © 2019 The Authors. Published by VGTU Press. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1008802
utb.identifier.obdid 43880298
utb.identifier.scopus 2-s2.0-85067132753
utb.source j-scopus
dc.date.accessioned 2019-08-13T10:17:22Z
dc.date.available 2019-08-13T10:17:22Z
dc.rights Attribution 4.0 International
dc.rights.uri http://creativecommons.org/licenses/by/4.0/
dc.rights.access openAccess
utb.ou Centre of Applied Economic Research
utb.contributor.internalauthor Bilan, Yuriy
utb.fulltext.affiliation Yuriy BILAN 1, Tetyana VASILYEVA 2, Serhiy LYEONOV 3, Kseniya BAGMET 4 1 Research Associate, Centre of Applied Economic Research, Faculty of Management and Economics, Tomas Bata University in Zlin, Zlin, Czech Republic 2 Educational and Research institute of Finance, Economy and Management named Oleg Balatskiy, Sumy State University, Sumy, Ukraine 3 Department of Finance, Banking and Insurance, Sumy State University, Sumy, Ukraine 4 Doctoral candidate, Sumy State University, Sumy, Ukraine E-mails: 1 yuriy_bilan@yahoo.co.uk; 2 tavasilyeva@fem.sumdu.edu.ua (corresponding author); 3 s.lieonov@uabs.sumdu.edu.ua; 4 kbagmet2017@gmail.com
utb.fulltext.dates Received 26 November 2018 accepted 28 January 2019
utb.fulltext.sponsorship This research was funded by the grant from the Ministry of Education and Science of Ukraine (№ g/r 0118U003569).
utb.scopus.affiliation Centre of Applied Economic Research, Faculty of Management and Economics, Tomas Bata University in Zlin, Zlin, Czech Republic; Educational and Research institute of Finance, Economy and Management named Oleg Balatskiy, Sumy State University, Sumy, Ukraine; Department of Finance, Banking and Insurance, Sumy State University, Sumy, Ukraine; Sumy State University, Sumy, Ukraine
utb.fulltext.projects 0118U003569
utb.fulltext.faculty Faculty of Management and Economics
utb.fulltext.ou Centre of Applied Economic Research
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