DEMOCRACY AND ECONOMIC GROWTH IN MIST COUNTRIES: AN EMPIRICAL ANALYSIS

İlyas Bayar

Makale detayları

DEMOCRACY AND ECONOMIC GROWTH IN MIST COUNTRIES: AN EMPIRICAL ANALYSIS

Yazarlar:

İlyas Bayar

Yayıncı:

Pamukkale University

Ana Başlıklar:

Ekonomi

Dergi:

Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi Issue 57, pp.367-384

Belge Tipi:

Makale

Yayın Tarihi:

7/2023

Belge Dili:

İngilizce

Document ID (Org No.):

2001293022

pISSN:

1308-2922

Anahtar kelimeler:

Özet:

 Studies on institutions, which are one of the main determinants of economic growth, have been increasing intensively in recent years. In this context, despite many empirical and theoretical studies on the relationship between democracy and economic growth, there is no consensus about the effect of democracy on economic growth. This study analyzes the relationship between democracy and economic growth for MIST Mexico, Indonesia, South Korea, and Turkey countries. Firstly, the cross-sectional dependence was examined in the study for the 19732021 period. The second generation panel unit root test Pesaran CADF 2007 was chosen because of the cross-sectional dependence among the series. The stationarity of the variables at I1 is ensured. Having determined the cointegration relationship Westerlund Durbin-H test 2008 between the series, the Panel CCE estimator was used to estimate the cointegration coefficients. Kónya causality test was used for the causality between democracy and economic growth. It is found that an increase in the level of democracy boosts the economic growth. It is suggested that the MIST nations continue to undertake policies targeted at establishing democratic institutions that contribute to economic progress.

 Studies on institutions, which are one of the main determinants of economic growth, have been increasing intensively in recent years. In this context, despite many empirical and theoretical studies on the relationship between democracy and economic growth, there is no consensus about the effect of democracy on economic growth. This study analyzes the relationship between democracy and economic growth for MIST Mexico, Indonesia, South Korea, and Turkey countries. Firstly, the cross-sectional dependence was examined in the study for the 19732021 period. The second generation panel unit root test Pesaran CADF 2007 was chosen because of the cross-sectional dependence among the series. The stationarity of the variables at I1 is ensured. Having determined the cointegration relationship Westerlund Durbin-H test 2008 between the series, the Panel CCE estimator was used to estimate the cointegration coefficients. Kónya causality test was used for the causality between democracy and economic growth. It is found that an increase in the level of democracy boosts the economic growth. It is suggested that the MIST nations continue to undertake policies targeted at establishing democratic institutions that contribute to economic progress.

 Studies on institutions, which are one of the main determinants of economic growth, have been increasing intensively in recent years. In this context, despite many empirical and theoretical studies on the relationship between democracy and economic growth, there is no consensus about the effect of democracy on economic growth. This study analyzes the relationship between democracy and economic growth for MIST Mexico, Indonesia, South Korea, and Turkey countries. Firstly, the cross-sectional dependence was examined in the study for the 19732021 period. The second generation panel unit root test Pesaran CADF 2007 was chosen because of the cross-sectional dependence among the series. The stationarity of the variables at I1 is ensured. Having determined the cointegration relationship Westerlund Durbin-H test 2008 between the series, the Panel CCE estimator was used to estimate the cointegration coefficients. Kónya causality test was used for the causality between democracy and economic growth. It is found that an increase in the level of democracy boosts the economic growth. It is suggested that the MIST nations continue to undertake policies targeted at establishing democratic institutions that contribute to economic progress.

 Ekonomik büyümenin temel belirleyicilerinden biri olan kurumlar üzerine yapılan çalışmalar son yıllarda yoğun bir biçimde artmaktadır. Bu bağlamda, demokrasi ile ekonomik büyüme arasındaki ilişkiye dönük birçok ampirik ve teorik çalışmaya rağmen demokrasinin ekonomik büyüme üzerindeki ne tür bir etki oluşturduğu konusunda ortak bir kanı bulunmamaktadır. Bu çalışmada, demokrasi ve ekonomik büyüme arasındaki ilişki MIST Meksika, Endonezya, Güney Kore ve Türkiye ülkeleri için analiz edilmiştir. 1973-2021 döneminin baz alındığı çalışmada öncelikle yatay kesit bağımlılığı incelenmiştir. Serilerde yatay kesit bağımlılığı nedeniyle ikinci kuşak panel birim kök testi Pesaran CADF 2007 seçilmiştir. Değişkenlerin I1 mertebede durağanlıkları sağlanmıştır. Seriler arasında eşbütünleşme ilişkisi Westerlund Durbin-H test 2008 tespit edildikten sonra eşbütünleşme katsayılarının tahmini için Panel CCE tahmincisi kullanılmıştır. Demokrasi ve ekonomik büyüme arasındaki nedensellik ilişkisi için Kónya Nedensellik sınaması yapılmıştır. Demokrasi seviyesindeki artışın ekonomik büyümeyi arttırdığı bulgusuna ulaşılmıştır. MIST ülkelerinde ekonomik büyümeye katkı sağlayan demokratik kurumların inşasına dönük politika uygulamalarının sürdürülmesi önerilmektedir.

Makale detayları

DEMOCRACY AND ECONOMIC GROWTH IN MIST COUNTRIES: AN EMPIRICAL ANALYSIS

Yazarlar:

İlyas Bayar

Yayıncı:

Pamukkale University

Ana Başlıklar:

Ekonomi

Dergi:

Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi Issue 57, pp.367-384

Belge Tipi:

Makale

Yayın Tarihi:

7/2023

Belge Dili:

İngilizce

Document ID (Org No.):

2001293022

pISSN:

1308-2922

Democracy

Institutions

Economic Growth

Panel Data AnalysisDemokrasi

Kurumlar

Ekonomik Büyüme

Panel Veri Analizi

Sayı

Makale detayları

Yazarlar: İlyas Bayar

Yayıncı: Pamukkale University

Ana Başlıklar: Ekonomi

Dergi: Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi Issue 57, pp.367-384

Belge Tipi: Makale

Yayın Tarihi: 7/2023

Belge Dili: İngilizce

Document ID (Org No.): 2001293022

pISSN: 1308-2922

Sayı

Yazarlar:

İlyas Bayar

Yayıncı:

Pamukkale University

Ana Başlıklar:

Ekonomi

Dergi:

Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi Issue 57, pp.367-384

Belge Tipi:

Makale

Yayın Tarihi:

7/2023

Belge Dili:

İngilizce

Document ID (Org No.):

2001293022

pISSN:

1308-2922