A complex of determinants

 

 

Ce schéma vise à rendre compte des différentes variables jouant sur le niveau de revenu, CAD au final la production (le PIB = produit intérieur brut = GDP = Gross Domestic product). Il y a 3 grandes variables : la géographie, le commerce international (insertion dans les échanges mondiaux) et les institutions.

Donc : GDP = f(Institutions, geography, Integration).

Le schéma propose la relation réciproque du type Institutions, geography, integration = g(GDP) mais ce n'est pas la plus essentielle, on l'expliquera que pour les institutions uniquement, cœur de ce chapitre.

Pour plus d'aide vous pouvez consulter l'article du gentil professeur sur le site melchior mais en Français. Il est dans la partie "étude de cas", http://www.melchior.fr/Les-institutions-et-la-croissa.10332.0.html

Expliquons les flèches principales :

Income level => Institutions = Demand for goods institutions. One of the major challenge consists in explaining what "good" institutions are and especially the institutional quality, cf. DOC et graph page 3/4. Economic actors want institutions to protect their contracts and their ownership. That corresponds to their "demand". The higher the level income and the level of wealth in the country the more people want their goods to be protected though a system of property rights for instance with contracts, juges, policemen, ...

Institutions => GDP (the deep determinant) = Property rights and rule of law (Etat de droit) . When there is a strong (efficient) system of (private) property rights, firms, innovators, will receive the total sum of their efforts ans initiatives. If there is a risk of expropriation in a country, companies won't never invest in that country and no wealth will be created. Likewase the tax rate is a crucial variable : to high it will discourage innovation and efforts, to low it brings no money.

Illustration : Corruption (bribes, ...) like scientific discoveries copied by others (innovations attract imitators) constitute counter-examples that is bad institutions.

Integration => GDP = Efficiency and dissemination of technology. When a country is well integrated in the world trade it can access to new technology which leads to a higher productivity and in last instance to a higher GDP.

Illustration : Lack of machines (technology) and/or skilled workers to sustain growth.

Geography => GDP = Health of population and agricultural productivity. Zone of malaria is also a zone of poverty.

Illustration : Poor soil

Indirect role of variables

Capacity to trade : Join World Trade Organization ((WTO)

Distance from market : Landlocked country.

 

Corresponding sub-questions : Why a landlocked country is less likely to enjoy a robust economic growth ? Why WTO may enhance economic growth ? Explain the role of property rights and rule of law ?

 

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