DEMOCRACY AND ECONOMIC GROWTH IN MIST COUNTRIES: AN EMPIRICAL ANALYSIS
Yükleniyor...
Tarih
2023
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Pamukkale Üniversitesi
Erişim Hakkı
info:eu-repo/semantics/openAccess
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 1973–2021 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 I(1) 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.
Açıklama
Anahtar Kelimeler
Democracy, Institutions, Economic Growth, Panel Data Analysis
Kaynak
Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi
WoS Q Değeri
Scopus Q Değeri
Cilt
Sayı
57
Künye
BAYAR, İ. (2023). DEMOCRACY AND ECONOMIC GROWTH IN MIST COUNTRIES: AN EMPIRICAL ANALYSIS. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi(57), 367-384. https://doi.org/10.30794/pausbed.1182911
