Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/334173 
Year of Publication: 
2025
Citation: 
[Journal:] Theoretical and Applied Economics [ISSN:] 1844-0029 [Volume:] 32 [Issue:] 4 [Publisher:] General Association of the Economists in Romania (AGER) [Place:] Bucharest, Romania [Year:] 2025 [Pages:] 173-182
Publisher: 
General Association of the Economists in Romania (AGER), Bucharest, Romania
Abstract: 
This paper explores how institutional quality influences economic development across EU Member States. Using 2022 data from Eurostat and the World Bank, we analyzed the relationship between institutional indicators (such as voice and accountability, political stability and absence of violence/terrorism, government effectiveness, regulatory quality, rule of law, control of corruption) and GDP per capita expressed in purchasing power standard (PPS). In this respect, we examined the correlation coefficients, which confirmed a strong link between institutions and economic performance. Northern European Union countries show both institutional strength and prosperity, while many Eastern and Southern European nations face weaker institutions and lower development. This study also assesses the institutional progress within the EU from 2013 to 2022.
Subjects: 
institutions
economic development
correlation coefficients
GDP per capita
institutional quality
JEL: 
O43
O47
F45
H11
P48
URL of the first edition: 
Creative Commons License: 
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Document Type: 
Article
Document Version: 
Published Version
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