A NEXUS BETWEEN DYNAMIC INSTITUTIONS AND SUSTAINABLE DEVELOPMENT IN DEVELOPING COUNTRIES
Author(s) : Uzma Nisar & Muhammad Azam
This article empirically examines direct and indirect impact of dynamic institutions on sustainable development 40 developing countries over the period of 2000-2015. Dynamic institutions taken into consideration in this study are political and ethnic institutions, market legitimizing and regulating institutions and democratic institutions. For empirical analysis, a dynamic panel model approach is utilized System Generalized Method of Moments (SYS-GMM). The overall results verify that ethnic conflicts discourage sustainable development while democracy has no impact on sustainable development. However, market regulatory institutions have significant positive impact on sustainable development in developing countries.