Empirical Analysis of The Relationship Between Democracy and Economic Growth in Turkey

Ferid Önder

Makale detayları

Empirical Analysis of The Relationship Between Democracy and Economic Growth in Turkey

Yazarlar:

Ferid Önder

Yayıncı:

Gaziantep University

Ana Başlıklar:

Uygulamalı Makro Ekonometri

Dergi:

Gaziantep Üniversitesi Sosyal Bilimler Dergisi Vol.22 Issue Cumhuriyet'in 100. Yılı, pp.386-398

Belge Tipi:

Makale

Yayın Tarihi:

10/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001303198

pISSN:

1303-0094

Anahtar kelimeler:

Özet:

 Democracy is a model of government that reflects the will of the people through their elected representatives. It is stated in the literature that democracies have positive reflections on economic indicators compared to forms of government that are not based on pluralism or that do not come to power through elections. It can be observed that the number of studies investigating the relationship between democracy and economic growth has increased in recent years. In these studies, where different conclusions on the subject are discussed, it is accepted that economic growth plays a positive role on the sustainability of democratic processes in one of the views. In the other, it is argued that the relationship between democracy and economic growth is not linear but has an inverted U-shaped dynamic and exhibits a more complex structure. Another view in the literature argues that developments in the level of democracy contribute to the economic growth of countries. Accordingly, factors such as transparency, accountability, rule of law and protection of private property rights in democratic regimes increase the confidence of investors, and the increasing confidence environment supports the level of production and economic growth. The motivation of this study is to present an econometric analysis between the relevant variables obtained from the literature on the subject in order to reveal the status of the relationship between democracy and economic growth in the case of Turkish Economy. For this purpose, the effect of democracy on economic growth in Turkey is estimated through an economic growth model by using different complementary techniques of time series analysis and using annual data covering the period 1973-2022. The results show that democracy has a positive and statistically significant effect on economic growth in Turkey in the long run. This result can be interpreted as that democratic values should be given more importance for economic development.

 Democracy is a model of government that reflects the will of the people through their elected representatives. It is stated in the literature that democracies have positive reflections on economic indicators compared to forms of government that are not based on pluralism or that do not come to power through elections. It can be observed that the number of studies investigating the relationship between democracy and economic growth has increased in recent years. In these studies, where different conclusions on the subject are discussed, it is accepted that economic growth plays a positive role on the sustainability of democratic processes in one of the views. In the other, it is argued that the relationship between democracy and economic growth is not linear but has an inverted U-shaped dynamic and exhibits a more complex structure. Another view in the literature argues that developments in the level of democracy contribute to the economic growth of countries. Accordingly, factors such as transparency, accountability, rule of law and protection of private property rights in democratic regimes increase the confidence of investors, and the increasing confidence environment supports the level of production and economic growth. The motivation of this study is to present an econometric analysis between the relevant variables obtained from the literature on the subject in order to reveal the status of the relationship between democracy and economic growth in the case of Turkish Economy. For this purpose, the effect of democracy on economic growth in Turkey is estimated through an economic growth model by using different complementary techniques of time series analysis and using annual data covering the period 1973-2022. The results show that democracy has a positive and statistically significant effect on economic growth in Turkey in the long run. This result can be interpreted as that democratic values should be given more importance for economic development.

 Democracy is a model of government that reflects the will of the people through their elected representatives. It is stated in the literature that democracies have positive reflections on economic indicators compared to forms of government that are not based on pluralism or that do not come to power through elections. It can be observed that the number of studies investigating the relationship between democracy and economic growth has increased in recent years. In these studies, where different conclusions on the subject are discussed, it is accepted that economic growth plays a positive role on the sustainability of democratic processes in one of the views. In the other, it is argued that the relationship between democracy and economic growth is not linear but has an inverted U-shaped dynamic and exhibits a more complex structure. Another view in the literature argues that developments in the level of democracy contribute to the economic growth of countries. Accordingly, factors such as transparency, accountability, rule of law and protection of private property rights in democratic regimes increase the confidence of investors, and the increasing confidence environment supports the level of production and economic growth. The motivation of this study is to present an econometric analysis between the relevant variables obtained from the literature on the subject in order to reveal the status of the relationship between democracy and economic growth in the case of Turkish Economy. For this purpose, the effect of democracy on economic growth in Turkey is estimated through an economic growth model by using different complementary techniques of time series analysis and using annual data covering the period 1973-2022. The results show that democracy has a positive and statistically significant effect on economic growth in Turkey in the long run. This result can be interpreted as that democratic values should be given more importance for economic development.

 Demokrasi, halkın seçtiği temsilcileri vasıtasıyla halk iradesini yansıtan bir yönetim modelidir. Demokrasilerin, çoğulculuğa dayanmayan veya seçimle işbaşına gelmeyen yönetim şekillerine göre ekonomik göstergelere olumlu yansımalarının olduğu ilgili yazında yer almaktadır. Demokrasi ile ekonomik büyüme arasındaki ilişkinin araştırıldığı çalışmaların sayılarında son yıllarda artış görüldüğü izlenebilmektedir. Konu ile ilgili farklı çıktıların tartışıldığı bu çalışmalarda, görüşlerden birisinde, ekonomik büyümenin demokratik süreçlerin sürdürülebilirliği üzerinde olumlu bir rol oynadığı kabul edilmektedir. Diğerinde, demokrasi ile ekonomik büyüme arasındaki ilişkinin lineer olmayıp ters U şeklinde bir dinamiğe sahip ve daha karmaşık bir yapı sergilediği ileri sürülmektedir. Literatürdeki diğer bir görüş ise demokrasi düzeyindeki gelişmelerin ülkelerin ekonomik büyümesine katkı sağladığını ileri sürmektedir. Buna göre demokratik rejimlerde şeffaflık, hesap verebilirlik, hukukun üstünlüğü ve özel mülkiyet haklarının korunması gibi unsurlar yatırımcıların güvenini artırmakta, artan güven ortamı da üretim düzeyini ve ekonomik büyümeyi desteklemektedir denilmektedir. Bu çalışmanın motivasyonunu ise Türkiye Ekonomisi örneğinde, demokrasi ile ekonomik büyüme arasındaki ilişkinin durumunu ortaya koyabilmek adına, konu ile ilgili literatürden elde edilen ilgili değişkenler arasında ekonometrik bir analizin ortaya konulması oluşturmaktadır. Bu amaçla zaman serileri analizi yönteminin birbirini tamamlayan farklı teknikleri kullanılarak ve 1973-2022 dönemini kapsayan yıllık veriler kullanılarak Türkiyede demokrasinin ekonomik büyümeye etkisi, bir ekonomik büyüme modeli vasıtasıyla tahmin edilmektedir. Elde edilen sonuçlar, Türkiyede, uzun dönemde demokrasinin ekonomik büyümeye pozitif ve istatistiksel olarak anlamlı bir etkisinin olduğunu göstermektedir. Bu sonuç, ekonomik gelişme için demokratik değerlere daha fazla önem verilmesi gerektiği şeklinde yorumlanabilmektedir.

Makale detayları

Empirical Analysis of The Relationship Between Democracy and Economic Growth in Turkey

Yazarlar:

Ferid Önder

Yayıncı:

Gaziantep University

Ana Başlıklar:

Uygulamalı Makro Ekonometri

Dergi:

Gaziantep Üniversitesi Sosyal Bilimler Dergisi Vol.22 Issue Cumhuriyet'in 100. Yılı, pp.386-398

Belge Tipi:

Makale

Yayın Tarihi:

10/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001303198

pISSN:

1303-0094

Turkish Economy

Eeconomic Growth

Democrasy

ARDLTürkiye Ekonomisi

Ekonomik Büyüme

Demokrasi

ARDL

Sayı

Makale detayları

Yazarlar: Ferid Önder

Yayıncı: Gaziantep University

Ana Başlıklar: Uygulamalı Makro Ekonometri

Dergi: Gaziantep Üniversitesi Sosyal Bilimler Dergisi Vol.22 Issue Cumhuriyet'in 100. Yılı, pp.386-398

Belge Tipi: Makale

Yayın Tarihi: 10/2023

Belge Dili: Türkçe

Document ID (Org No.): 2001303198

pISSN: 1303-0094

Sayı

Yazarlar:

Ferid Önder

Yayıncı:

Gaziantep University

Ana Başlıklar:

Uygulamalı Makro Ekonometri

Dergi:

Gaziantep Üniversitesi Sosyal Bilimler Dergisi Vol.22 Issue Cumhuriyet'in 100. Yılı, pp.386-398

Belge Tipi:

Makale

Yayın Tarihi:

10/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001303198

pISSN:

1303-0094