Studying the weight importance of the government effectiveness and regulatory quality as components of governance in influencing the economic performance of developing countries (comparative comparison of oil and non-oil developing countries)

This paper aims to investigate the weighting of government effectiveness and regulatory quality components as components of governance in influencing economic performance in oil and non-oil developing countries. In this article, 78 developing countries have been studied, which have been divided into two groups of oil and non-oil countries based on the UNCTAD (2008) classification. Due to the correlated nature of governance components that are affected by the prevailing conditions in countries, it is not possible to investigate the relative importance of the effect of government effectiveness and regulatory quality components on economic performance through regression methods. Accordingly, in this paper, Johnson's relative importance of technique, which has been done through programming in SPSS environment was used and the weighted importance of these two governance components was estimated in two scales of time and country analysis. The results show that the two components of voice and accountability (VAC) and political stability (PS) have the greatest weight importance among the influential institutional components in the economic growth of developing countries based on the time analysis scale. According to the country analysis scale, government effectiveness (GE) and control of corruption (COC) had the highest weight among institutional components, respectively. The estimation results for oil and non-oil countries show that the two components of corruption control and government effectiveness for non-oil countries and two components of government effectiveness and regulatory quality and corruption control had the most important weight among institutional components in influencing economic performance, respectively.