POLITICAL STABILITY AND ECONOMIC DEVELOPMENT IN TURKIC COUNCIL: A DYNAMIC PANEL DATA ANALYSIS

Authors : İlhan EGE

Pages : 26-33

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Publication Date : 2019-01-15

Article Type : Research Paper

Abstract :Many studies have examined the relation between political stability and economic  performance. Despite the long-lasting academic debate on this issue, there is no consensus on this relation. Political instability which is defined as  the deviations from normal pattern or a change or challenge to the current  political governance and economic growth are mainly interrelated. Many  empirical studies show that weak economic performance is likely to deteriorate  the political decision making process and may lead to emergence of  macroeconomic imbalances. The aim of this paper is to examine the causal association between economic development and political stability by employing  panel data analysis for members of Turkic council insert ignore into journalissuearticles values(Azerbaijan, Kazakhstan,  Kyrgyzstan and Turkey); for the period 2005-2014. Since there are  not many econometric studies to analyze the relation between political stability  and economic performance of Turkic nations, this study contributes to  the limited literature.
Keywords : Turkic council, political stability, economic development, panel data analysis, governance