Mapping the Institutional Foundations of Macroeconomic Stability: A Global Bibliometric Assessment of Scholarly Trends and Policy Implications

Abstract

This paper presents a comprehensive bibliometric analysis of the literature on institutions and macroe conomic stability. Institutions are considered in a broad sense, encompassing political, legal, and economic institutions that play a critical role in shaping macroeconomic outcomes. Despite growing scholarly interest in this area, no bibliometric study has systematically examined the evolution of the field, its research hotspots, and its intellectual structure. A total of 235 peer-reviewed publications published between 2000 and 2024 were retrieved from the Web of Science database and analyzed using bibliometric tools, including VOSviewer (TM) and Bibliometrix (R). The analysis examines publication trends, leading authors, coun tries, journals, collaboration patterns, and co-citation networks. The findings reveal a growing degree of interdisciplinarity, with major contributions originating from political economy, development studies, and public finance. Thematic evolution analysis indicates a shift in research focus from governance and institu tional quality toward more recent topics such as economic resilience, fiscal policy credibility, and inflation targeting frameworks. This study contributes to the literature by identifying key research clusters, collabora tion patterns, and existing research gaps, including the relative underrepresentation of emerging economies and comparative institutional analyses. The findings provide valuable insights for policymakers, economists,
and researchers interested in understanding how institutional arrangements influence macroeconomic stabil ity. The paper concludes by outlining directions for future research and highlighting the potential of cross regional institutional comparisons.