A Simulation of How Institutional Change Can Affect Economic Performance

摘要：

The factor influencing institutional change is introduced in the production function of the Real Business Cycle model in this paper.By assuming that total factor productivity consists of both technological and institutional changes，an approach of estimating the effects of institutional change is explored，and by combining one economy with another economy’s institution,a structure of an empirical study to simulate the economic performance with different institutions is proposed.It is expected that the economy equipped with a higher level of institution will have a better economic performance than what it actually is.The model proposed in this paper would help to estimate the effects of institutional change on economic performance and can provide simulation economic outcomes.which is especially useful for transition economies.

关键词： Economic performance TFP Institntlonal change RBC model Simulation

作者: Xiang-dong XU Yun-feng RUAN

作者单位: School of Economics and Management,Zhejiang University of Science and Technology,Hangzhou.P.R.C.

会议类型: 国际会议

会议名称: The Second China Private Economy Innovation International Forum(第二届中国民营经济创新国际论坛)

会议地点: 浙江台州

会议语种:英文

页码: 682-686

在线出版日期: 2009-08-21（万方平台首次上网日期，不代表论文的发表时间）