Economics

The synergetic effect of economic complexity and governance on quality of life: policy thresholds

E. A. Hassanein, N. Samak, et al.

This study reveals how governance enhances the relationship between economic complexity and quality of life in developing countries. Conducted by Eslam A. Hassanein, Nagwa Samak, and Salwa Abdelaziz, find out how effective governance can sustain improvements in well-being and what critical thresholds need to be met for positive outcomes.

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Abstract

This study investigates the moderating impact of governance on the relationship between economic complexity and quality of life (QoL) in 75 developing countries from 2011 to 2021. Using the economic complexity index (ECI) and the social progress index (SPI), and employing a system-GMM approach, the study finds that both economic complexity and governance improve QoL. Governance significantly modulates the effect of economic complexity on QoL, with government effectiveness, rule of law, and control of corruption being particularly important. A threshold analysis identifies critical governance levels beyond which complementary policies are needed to sustain the positive impact on QoL. The findings offer insights into complementary policies for leveraging economic development to improve well-being in developing countries.

Publisher

HUMANITIES AND SOCIAL SCIENCES COMMUNICATIONS

Published On

Sep 11, 2024

Authors

Eslam A. Hassanein, Nagwa Samak, Salwa Abdelaziz

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