Measuring Quality of Governance in Turkey: A Composite Governance Index

Authors : Onur POLAT

Pages : 51-60

Doi:10.25295/fsecon.2020.01.003

View : 24 | Download : 6

Publication Date : 2020-01-31

Article Type : Research Paper

Abstract :In this study, we analyze the quality of governance in Turkey by using worldwide governance indicators insert ignore into journalissuearticles values(WGIs);, namely, voice and accountability insert ignore into journalissuearticles values(VA);, political stability and absence of violence insert ignore into journalissuearticles values(PV);, government effectiveness insert ignore into journalissuearticles values(GE);, regulatory quality insert ignore into journalissuearticles values(RQ);, rule of law insert ignore into journalissuearticles values(RL);, and control of corruption insert ignore into journalissuearticles values(CC); which aggregate 6 dimensions of governance. In that regard, we employ principal component analysis insert ignore into journalissuearticles values(PCA); to construct a composite governance index insert ignore into journalissuearticles values(CGI); for Turkey over the 2002-2017 period. We find that the CGI creates proper signals to both economic and political disequlibriums observed in the post-2001 financial crisis era. Our findings underline an effective regulatory framework for monitoring the quality of governance and accordingly suggests the CGI as a policy tool.
Keywords : Worldwide Governance Indicators, Good Governance, Principal Component Analysis