On the Predictability of Institutional Environment

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Authors	MIKULA Štěpán
Year of publication	2011
Type	Article in Proceedings
Conference	Mathematical Methods in Economics 2011
MU Faculty or unit	Faculty of Economics and Administration
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.
Related projects:	Research Centre for the Competitiveness of the Czech Economy Vybrané aspekty institucionálního prostředí