Vliv institucionálních faktorů na ekonomický růst Chile v porovnání se zeměmi Jižní Ameriky

Abstract

The diploma thesis is focused on institutional factors and their impact on economic growth. The aim of this thesis is to prove or disprove the hypothesis that institutional factors determine economic growth in Chile and other South American countries. The work is divided into three chapters where each chapter pursues the main goal of this work. The historical method and panel data regression are used to meet the target. Overall the work includes three panel data regression models with cross-section fixed effects, whose estimates are made by using the least squares method and robust coefficient covariance estimator White Period. This procedure has confirmed the main hypothesis of this study. It was found that the economic institutions and political institutions determined economic growth in South American countries in the period from 1999 to 2013.