INSTITUTIONS, PEACE, AND THE RULE OF LAW: THEIR IMPACT ON HUMAN DEVELOPMENT IN DEVELOPING COUNTRIES

Abstract

Rule of law is essential for a significant systematized life. Rule of law is the rare product in the contemporary world. The institutions and rule of law are crucial elements for promoting the human development both in developed and developing countries. The institutions, Peace and constancy play a major starring role in attaining human development. The aim of this paper is to analyze the connection between the institutions, peace and the human development. The United Nations Post-2015 agenda explains that the peace is the essential factor for attaining the development goals. The time span of the study is 2007 to 2017.The analysis has been carried out for selected developing countries by using a panel data appropriate technique. The results indicate that a political and economic institution has a negative impact on human development but is insignificant which indicates that the institutions of developing countries are not working well. The peace has a positive impact on human development and it is concluded that when the peace established in the developing countries then it promotes economic growth.