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Growth and development require a framework of institutions which reduces transaction costs and thereby their effectiveness, and this will reduce the poverty problem in developing countries. The paper investigated the relationship between institutional quality and economic growth in 18 Asian developing countries from 2013 to 2020 using fixed effect model. The results revealed that sound money has a positive and significant impact on economic growth whereas size of government, legal systems and property rights, foreign trade internation, and regulations were statistically insignificant. To achieve the Sustainable Development Goals, the framework provided by the General Assembly of United Nations also given higher priority of institutional quality of the countries.
Niroj Duwal (Wed,) studied this question.
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