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The Impacts of the Complementarity of Social Institution and Regulatory Reform on Economic Growth

  • Journal of Regulation Studies
  • 2012, 21(1), pp.135-168
  • Publisher : 한국규제학회
  • Research Area : Social Science > Public Administration

Jong-Han Lee 1 Choi jin sik 2

1한국행정연구원
2국민대학교

Accredited

ABSTRACT

The purpose of this study is to empirically address the impact of the complementarity of social institution and regulatory reform on economic growth. This study analyzed the relationships between the indicators of governmental, institutional, and regulatory attributes and economic growth of the 13 countries affiliated with OECD. The analysis results of this study are as follows: First, Korea, Japan and Czech Republic were weak in the managemental coordination and decentralized market. Second, the regulatory indicators had a negative impact on GDP in the strong countries in managemental coordination such as Germany, Ireland, and Norway. Third, the interaction of the decentralized market and regulatory indicators increased GDP. Fourth, the interaction of managemental coordination and regulatory indicators lowered GDP. This study shows that the regulatory reform can not influence the economic growth without consideration of social institution. Furthermore, the institutional reform can not influence the economic growth without consideration of regulatory context.

Citation status

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