- Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi
- Issue:57
- DEMOCRACY AND ECONOMIC GROWTH IN MIST COUNTRIES: AN EMPIRICAL ANALYSIS
DEMOCRACY AND ECONOMIC GROWTH IN MIST COUNTRIES: AN EMPIRICAL ANALYSIS
Authors : İlyas BAYAR
Pages : 367-384
Doi:10.30794/pausbed.1182911
View : 106 | Download : 146
Publication Date : 2023-07-18
Article Type : Research Paper
Abstract :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 insert ignore into journalissuearticles values(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 insert ignore into journalissuearticles values(Pesaran CADF insert ignore into journalissuearticles values(2007);); was chosen because of the cross-sectional dependence among the series. The stationarity of the variables at Iinsert ignore into journalissuearticles values(1); is ensured. Having determined the cointegration relationship insert ignore into journalissuearticles values(Westerlund Durbin-H test insert ignore into journalissuearticles values(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.Keywords : Demokrasi, Kurumlar, Ekonomik Büyüme, Panel Veri Analizi
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