THE IMPACTS OF INSTITUTIONS, OPENNESS AND MACROECONOMIC STABILITY ON ECONOMIC GROWTH: A PANEL DATA ANALYSIS ON MIDDLE INCOME COUNTRIES

Authors : Fatih KAPLAN, Sevda YAPRAKLI

Pages : 104-123

View : 44 | Download : 5

Publication Date : 2014-12-02

Article Type : Research Paper

Abstract :This study aims to analyze the impacts of indirect determinants such as institutions, trade-financial openness and macroeconomic stability on economic growth in 48 middle income countries. With this purpose, the impacts of the ten indicators in total belonging to the aforesaid variables for the term of 2002-2011 on economic growth are econometrically analyzed by using panel data analyses. According to the results of the analysis, institutions insert ignore into journalissuearticles values(political stability and absence of violence, regulatory quality and rule of law);, trade and financial openness insert ignore into journalissuearticles values(M2/GDP);, and macroeconomic stability insert ignore into journalissuearticles values(central government revenues /GDP); affect economic growth in a positive way. The results of the analysis show that institutions, openness and macroeconomic stability in middle income countries contribute to economic growth but that the level of this contribution is low.
Keywords : Ekonomik Büyüme, Kurumlar, Dışa Açıklık, Makroekonomik İstikrar, Orta Gelirli Ülkeler, Panel Veri Analizi

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