INSTITUTIONAL ENVIRONMENT IMPACT STUDY ON ECONOMIC INDICATORS OF THE URAL-SIBERIAN MACROREGION: EMPIRICAL CONFIRMATION
Journal: Bulletin of Chelyabinsk State University
Year: 2023

Many empirical studies show a signifi cant relationship between economic growth rates not only with neoclassical factors, but also with indicators of research eff ectiveness. The insuffi cient level of development of institutions limits economic growth, since part of the resources is spent on protecting property rights, on overcoming the barriers of corrupt activity. Since neoclassical macroeconomic factors do not fully explain the diff erences in the behavior of macroeconomic growth indicators