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POLİTİK KURUMLAR VE MAKROEKONOMİK PERFORMANS İLİŞKİSİ: ORTA GELİR GRUBU ÜLKELER ÖRNEKLEMİNDE AMPİRİK BİR ANALİZ

Year 2023, Volume: 10 Issue: 4, 1015 - 1029, 18.10.2023

Mustafa Caner Timur Özlem Durgun

Abstract

Ülkelerin gelişme serüvenleri değerlendirildiğinde iktisadi olan değişkenler kadar, doğrudan iktisadi olmayan nedenlerinde oldukça önemli olduğu göz çarpmaktadır. Son yıllarda gittikçe daha fazla dikkat çeken çalışmalardan birisi de ülkelerin gelişmişliğini veya geri kalmışlığını açıklarken, bu ülkelerin yüzyıllar içerisinde geliştirdiği kurumsal alt yapının incelenmesidir. Bu çalışmada kurumsallığın bir göstergesi olarak Dünya Bankası tarafından desteklenerek hazırlanan yönetişim verilerinden faydalanılmıştır. Ekonomik performansın göstergeleri olarak ise tüketici fiyat endeksi, doğrudan dış yatırımlar ve kişi başına düşen GSYH verileri kullanılmıştır. Veriler tercih edilirken 2002-2021 yıllarını kapsayan yıllık veriler ve ülke grubu olarak orta gelir grubu ülkeler tercih edilmiştir. Elde edilen istatistiksel sonuçlara göre büyük orandan da kurumsallık göstergeleri ile makroekonomik göstergelerin birbirini desteklediği görülmektedir. En dikkat çekici sonuç ise yolsuzlukla mücadele ve makroekonomik göstergeler arasında tespit edilmiştir. Buna göre yolsuzlukla mücadele edildikçe, ekonomik değişkenler olumsuz etkilenmektedir. Başka bir değişle bazı ülkeler ekonomik büyüme elde edebilmek için yolsuzlukla mücadeleyi bir süre göz ardı etmelidir.

Keywords

Kurumsal iktisat Politik İktisat İktisadi Gelişme

References

  • Acemoğlu, D., Johnson, S., Robinson, J. ve Thaicharoen, Y. (2003). Institutional Causes, Macroeconomic Symptoms: Volatility, Crises and Growth. National Bureau of Economic Research. Working Paper 9124.
  • Alesina, A. & Perotti, R. (1996). Income distribution, political instability, and investment. European economic review, 40(6), 1203-1228.
  • Alonso, J. A. (2010). Colonisation, Institutions and Development: New Evidence. Journal of Development Studies, 47 (7), 937 – 958.
  • Baltagi, B. H., Feng, Q., & Kao, C. (2012). A Lagrange Multiplier test for cross-sectional dependence in a fixed effects panel data model. Journal of Econometrics, 170(1), 164-177.
  • Bloch, H. ve Tang, S. H. K. (2004). “Deep Determinants of Economic Growth: Institutions, Geography and Openness toTrade”, Progress in Development Studies, Vol. 4, Issue: 3, ss. 245-255.
  • Brahim, M., & Rachdi, H. (2014). Foreign direct investment, institutions and economic growth: Evidence from the MENA region. Journal of Reviews on Global Economics, 3, 328.
  • Breusch, T. S., & Pagan, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The review of economic studies, 47(1), 239-253.
  • Bulut, C. (2006). Ekonomik yapı ve politika analizi: Türkiye ekonomisi performans değerlendirmesi. Der Yayınları.
  • De Vaal, A., & Ebben, W. (2011). Institutions and the relation between corruption and economic growth. Review of Development Economics, 15(1), 108-123.
  • Feng, Y. (1997). Democracy, political stability and economic growth. British journal of political science, 27(3), 391-418.
  • Glaeser, E.L., La Porta, R., Lopez-de-Silanes, F. (2004). Do Institutions Cause Growth?. Journal of Economic Growth 9, 271–303. https://doi.org/10.1023/B:JOEG.0000038933.16398.ed
  • Goldsmith, A. A. (1998). Institutions and economic growth in Africa. United States Agency for International Development, Division of Strategic Analysis, Office of Sustainable Development, Bureau for Africa.
  • Grigorian, D. A. ve Martinez, A. (2000). “Industrial Growth and the Quality of Institutions: What Do (Transition) Economies Have to Gain from the Rule of Law?”, Policy Research Working Paper 2475, The World Bank Europe and Central Asia Region Private and Financial Sectors Development Unit, ss. 1-26.
  • Haini, H. (2020). Examining the relationship between finance, institutions and economic growth: evidence from the ASEAN economies. Econ Change Restruct 53, 519–542. https://doi.org/10.1007/s10644-019-09257-5
  • Klomp, J., & De Haan, J. (2009). Political institutions and economic volatility. European journal of political economy, 25(3), 311-326.
  • Knack, S. ve Keefer, P. (1995). “Institutions and Economic Performance: Institutional Measures Cross-Country Tests Using Alternative”, Economics and Politics, Vol. 7, No. 3, ss. 207-227.
  • North, D. C. (1991). Institutions. Journal of Economic Perspectives, 5 (1), 97–112, https://doi.org/10.1257/jep.5.1.97
  • Özdemir, D., & İmamoğlu, İ. K. (2021). Governance Indicators and Growth: A Causality Analysis for Developed and Developing G20 Countries. Uluslararası Ekonomi İşletme ve Politika Dergisi, 5(1), 113-135.
  • Pedroni, P. (1999). Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxford Bulletin of Economics and statistics, 61(S1), 653-670.
  • Pedroni, P. (2004). Panel cointegration: asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis. Econometric theory, 20(3), 597-625.
  • Pesaran, M Hashem (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, 22, 265–312.
  • Pesaran, M. H. & Yamagata, T. (2008). Testing slope homogeneity in large panels. Journal of Econometrics, 142(1), 50-93.
  • Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. University of Cambridge, Faculty of Economics, Cambridge Working Papers in Economics No. 0435.
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled mean group estimation of dynamic heterogeneous panels. Journal of the American statistical Association, 94(446), 621-634.
  • Rodrik, D., Subramanian, A. & Trebbi, F. (2004). Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development. Journal of Economic Growth 9, 131–165. https://doi.org/10.1023/B:JOEG.0000031425.72248.85
  • Savaş, V. F. (2016). Politik İktisat (8. baskı). Beta Yayınları, İstanbul.
  • Tjaša R. & Andrej S. (2005) The Impact of Institutions on Economic Growth: The Case of Transition Economies, Journal of Economic Issues, 39:4, 995-1027, DOI: 10.1080/00213624.2005.11506864
  • Vijayaraghavan, M., & Ward, W. A. (2001). Institutions and economic growth: Empirical evidence for a cross-national analysis (No. 633-2016-41441).
  • Westerlund, J. (2005). New simple tests for panel cointegration. Econometric Reviews 24: 297-316.
  • Yerdelen Tatoğlu, F. (2013). İleri Panel Veri Analizi: Stata Uygulamalı. Beta Yayıncılık, İstanbul.

POLITICAL INSTITUTIONS AND MACROECONOMIC PERFORMANCE: AN EMPIRICAL ANALYSIS IN A SAMPLE OF MIDDLE-INCOME GROUP COUNTRIES

Year 2023, Volume: 10 Issue: 4, 1015 - 1029, 18.10.2023

Mustafa Caner Timur Özlem Durgun

Abstract

References

  • Acemoğlu, D., Johnson, S., Robinson, J. ve Thaicharoen, Y. (2003). Institutional Causes, Macroeconomic Symptoms: Volatility, Crises and Growth. National Bureau of Economic Research. Working Paper 9124.
  • Alesina, A. & Perotti, R. (1996). Income distribution, political instability, and investment. European economic review, 40(6), 1203-1228.
  • Alonso, J. A. (2010). Colonisation, Institutions and Development: New Evidence. Journal of Development Studies, 47 (7), 937 – 958.
  • Baltagi, B. H., Feng, Q., & Kao, C. (2012). A Lagrange Multiplier test for cross-sectional dependence in a fixed effects panel data model. Journal of Econometrics, 170(1), 164-177.
  • Bloch, H. ve Tang, S. H. K. (2004). “Deep Determinants of Economic Growth: Institutions, Geography and Openness toTrade”, Progress in Development Studies, Vol. 4, Issue: 3, ss. 245-255.
  • Brahim, M., & Rachdi, H. (2014). Foreign direct investment, institutions and economic growth: Evidence from the MENA region. Journal of Reviews on Global Economics, 3, 328.
  • Breusch, T. S., & Pagan, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The review of economic studies, 47(1), 239-253.
  • Bulut, C. (2006). Ekonomik yapı ve politika analizi: Türkiye ekonomisi performans değerlendirmesi. Der Yayınları.
  • De Vaal, A., & Ebben, W. (2011). Institutions and the relation between corruption and economic growth. Review of Development Economics, 15(1), 108-123.
  • Feng, Y. (1997). Democracy, political stability and economic growth. British journal of political science, 27(3), 391-418.
  • Glaeser, E.L., La Porta, R., Lopez-de-Silanes, F. (2004). Do Institutions Cause Growth?. Journal of Economic Growth 9, 271–303. https://doi.org/10.1023/B:JOEG.0000038933.16398.ed
  • Goldsmith, A. A. (1998). Institutions and economic growth in Africa. United States Agency for International Development, Division of Strategic Analysis, Office of Sustainable Development, Bureau for Africa.
  • Grigorian, D. A. ve Martinez, A. (2000). “Industrial Growth and the Quality of Institutions: What Do (Transition) Economies Have to Gain from the Rule of Law?”, Policy Research Working Paper 2475, The World Bank Europe and Central Asia Region Private and Financial Sectors Development Unit, ss. 1-26.
  • Haini, H. (2020). Examining the relationship between finance, institutions and economic growth: evidence from the ASEAN economies. Econ Change Restruct 53, 519–542. https://doi.org/10.1007/s10644-019-09257-5
  • Klomp, J., & De Haan, J. (2009). Political institutions and economic volatility. European journal of political economy, 25(3), 311-326.
  • Knack, S. ve Keefer, P. (1995). “Institutions and Economic Performance: Institutional Measures Cross-Country Tests Using Alternative”, Economics and Politics, Vol. 7, No. 3, ss. 207-227.
  • North, D. C. (1991). Institutions. Journal of Economic Perspectives, 5 (1), 97–112, https://doi.org/10.1257/jep.5.1.97
  • Özdemir, D., & İmamoğlu, İ. K. (2021). Governance Indicators and Growth: A Causality Analysis for Developed and Developing G20 Countries. Uluslararası Ekonomi İşletme ve Politika Dergisi, 5(1), 113-135.
  • Pedroni, P. (1999). Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxford Bulletin of Economics and statistics, 61(S1), 653-670.
  • Pedroni, P. (2004). Panel cointegration: asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis. Econometric theory, 20(3), 597-625.
  • Pesaran, M Hashem (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, 22, 265–312.
  • Pesaran, M. H. & Yamagata, T. (2008). Testing slope homogeneity in large panels. Journal of Econometrics, 142(1), 50-93.
  • Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. University of Cambridge, Faculty of Economics, Cambridge Working Papers in Economics No. 0435.
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled mean group estimation of dynamic heterogeneous panels. Journal of the American statistical Association, 94(446), 621-634.
  • Rodrik, D., Subramanian, A. & Trebbi, F. (2004). Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development. Journal of Economic Growth 9, 131–165. https://doi.org/10.1023/B:JOEG.0000031425.72248.85
  • Savaş, V. F. (2016). Politik İktisat (8. baskı). Beta Yayınları, İstanbul.
  • Tjaša R. & Andrej S. (2005) The Impact of Institutions on Economic Growth: The Case of Transition Economies, Journal of Economic Issues, 39:4, 995-1027, DOI: 10.1080/00213624.2005.11506864
  • Vijayaraghavan, M., & Ward, W. A. (2001). Institutions and economic growth: Empirical evidence for a cross-national analysis (No. 633-2016-41441).
  • Westerlund, J. (2005). New simple tests for panel cointegration. Econometric Reviews 24: 297-316.
  • Yerdelen Tatoğlu, F. (2013). İleri Panel Veri Analizi: Stata Uygulamalı. Beta Yayıncılık, İstanbul.
There are 30 citations in total.

Details

Primary Language English
Subjects International Economics (Other)
Journal Section Research Article
Authors

Mustafa Caner Timur

Özlem Durgun 0000-0003-1404-0225

Publication Date October 18, 2023
Published in Issue Year 2023 Volume: 10 Issue: 4

Cite

APA Timur, M. C., & Durgun, Ö. (2023). POLITICAL INSTITUTIONS AND MACROECONOMIC PERFORMANCE: AN EMPIRICAL ANALYSIS IN A SAMPLE OF MIDDLE-INCOME GROUP COUNTRIES. Avrasya Sosyal Ve Ekonomi Araştırmaları Dergisi, 10(4), 1015-1029.
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