QUALITY OF INSTITUTIONS IN CANDIDATE AND POTENTIAL CANDIDATE COUNTRIES COMPARED TO THE NEWEST EUROPEAN MEMBERS
QUALITY OF INSTITUTIONS IN CANDIDATE AND POTENTIAL CANDIDATE COUNTRIES COMPARED TO THE NEWEST EUROPEAN MEMBERS

Summary/Abstract: This paper deals with the quality of institutions in two samples. The first sample consists of candidates and potential candidates for membership in the European Union - Albania, Bosnia and Herzegovina, Serbia and N. Macedonia, while the second sample consists of the youngest member states of the European Union - Croatia, Bulgaria and Romania. In some of the earlier papers, as a co-author or author, I compared the countries of the region with the members of "New Europe", i.e. the countries that became members of the EU in 2004, but a glance look at the data today led me to the conclusion that the quality of the institutional environment in the region is more logical to compare with the newest EU members. Even in comparison with these countries, our region lags significantly behind. As a database for the quality of institutions, I used the World Governance Indicators developed by Kaufman et al. (2010). Institutions are defined as they were defined by Nobel laureate Douglas North and after him, a whole group of economists under the auspices of the New Institutional Economy.

• Details
• Contents