Institucije i ekonomski rast - Slučaj BiH
Institutions and economic growth: the case of Bosnia and Herzegovina

Summary/Abstract: This paper investigates the link between the quality of institutions (in line with the concept of the new institutional economics) and economic growth (measured by GDPpc) in BiH. Since there is as yet no consolidation of thinkin ing and views in regard to the notion of economic institutions, for the purpose of this paper the regulatory type of institution has been selected. Institutions are taken to mean written “rules of the game,” or formal institutions, in which the state features as the generator, judge and implementer of rules. The aim of the paper is to compare movement trends of the parameters of institutional quality and economic growth. The claim which it seeks to demonstrate is that advancing the quality of economic institutions has a positive impact on economic growth in BiH. The contribution of the paper is its suggesting the direction to be taken when generating economic policies in BiH.

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