This study, being one of its kind by method and scope, delves into the effects of governance indicators on economic growth, using large panel datasets spanning from 2002 to 2020 for the world’s economies, income level economies, Organisation for Economic Co-operation and Development (OECD) members, and regional level economies that include 218 countries. In the presence of cross-sectional dependence and mixed integrating orders of the predictors, the results confirm a long-run nexus between governance and economic growth in the world and other panels. Using the dynamic common correlated effects model, the results indicate that governance predictors postulate significantly positive effects on economic growth, while the critical findings highlight that the scale of governance effects on growth varies in relation to the income level of the underlying economies in the panels, implying that the larger the economy, the higher the governance effects will be. Moreover, the results of the heterogeneous panel causality test reveal significantly strong unidirectional causality that runs from governance predictors to economic growth, while little evidence is found for feedback response and interdependencies between governance predictors in most of the panels. Based on the findings, appropriate policy recommendations are discussed.

本研究在方法和范围上属于同类研究之一，使用 2002 年至 2020 年世界经济体、收入水平经济体、经济合作与发展组织的大型面板数据集，深入研究治理指标对经济增长的影响（经合组织）成员和区域级经济体，包括 218 个国家。在存在横截面依赖和预测变量的混合积分顺序的情况下，结果证实了治理与世界经济增长和其他面板之间的长期联系。使用动态共同相关效应模型，结果表明治理预测因子假设对经济增长有显着的积极影响，虽然重要的调查结果强调，治理对增长的影响程度因小组中基础经济体的收入水平而异，这意味着经济规模越大，治理影响就越高。此外，异质面板因果关系检验的结果揭示了从治理预测变量到经济增长的显着强单向因果关系，而在大多数面板中几乎没有发现反馈响应和治理预测变量之间相互依赖的证据。根据调查结果，讨论了适当的政策建议。异质面板因果关系检验的结果显示，从治理预测变量到经济增长的单向因果关系非常强，而在大多数面板中，几乎没有发现反馈反应和治理预测变量之间相互依赖的证据。根据调查结果，讨论了适当的政策建议。异质面板因果关系检验的结果显示，从治理预测变量到经济增长的单向因果关系非常强，而在大多数面板中，几乎没有发现反馈反应和治理预测变量之间相互依赖的证据。根据调查结果，讨论了适当的政策建议。