Good Governance and Institution Building as a Condition of EU Integration and Economic Growth

Ostojić, Ivana and Jovanović, Predrag and Petrović, Predrag (2019) Good Governance and Institution Building as a Condition of EU Integration and Economic Growth. In: Towards a better future : democracy, EU integration and criminal justice : conference proceedings. Volume II. "St. Kliment Ohridski" University, Faculty of law - Kicevo, Bitola, pp. 125-133. ISBN 978-608-4670-05-6 (V. 2)

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Abstract

Institutions represent rules of behavior in a particular society, the limitations that a person has designed to shape interactions between people. Inclusive institutions promote the rule of law, maximize efficiency and social well-being and contribute to the achievement of higher rates of economic growth and represent key economic freedoms. Inclusive institutions provide security of private property, an impartial legal system and public services that provide equality in exchange and contracting, as well as citizens' participation in economic activities. Residents of countries with such type of institutions have access to political institutions, which gives them the opportunity to participate in the democratic process, to elect representatives of the authorities, change them, etc. Extractive institutions, as opposite to inclusive institutions, allow access to political power only to a privileged circle of people. The aim of this institutions is to subtract income and wealth from one social subgroup in favor of the other. The emergence, development and establishment of inclusive institutions is not a short process and it also implies the fulfillment of certain political prerequisites such as: the representation of parliamentary tradition and therefore political culture, compliance with laws and regulations, respecting private property rights, respecting state property rights, strong public opinion etc. Greater representation of inclusive institutions will certainly contribute to EU integration.

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