Institutional framework of Slovakia’s economic development in the new phase of globalisation.


Read more

In a globalized World the factor endowments and quality of the institutional framework are of high importance for economic development of countries. Inadequate understanding and underestimation of institutions’ importance may have negative impacts on economic development. A flexible economy, resilient to systemic crises must operate within an optimal mix of institutions. The mix promotes for synergies among the smart, inclusive and sustainable growth types. Specific types of growth are highly dependent on an efficient layout of institutional frameworks.