The Role of Institutional Structure Explaining the Growth Differences across Countries: Panel Data Analysis
Abstract
The question of why some countries grow faster than other countries is one of the main issues discussed by economists for many years. In recent years, institutional structure has been gaining increasing relevance in economic growth literature to explain growth differences across countries. In this study, the effects of institutional structure on economic growth analyzed for 110 countries using the panel data during the period 2000-2009 by using different indicators to represent the institutional structure. The results revealed that the effect of institutional structure on the economic growth differs by the development level. Moreover, institutional structure is one of the important determinants of economic growth especially in the developed countries.
References
- Abrams, Burton A. ve Lewis, Kenneth A. (1993), “Cultural and Institutional Determinants of Economic Growth: A Cross-Section Analysis”, Kluwer Academic Publishers, Public Choice 83, 273-289.
- Acemoğlu, Daron (2009), Introduction to Modern Economic Growth, New Jersey: Princeton University Press.
- Acemoğlu, Daron ve diğerleri (2003), “Institutional Causes, Macroeconomic Symptoms Volatility, Crises and Growth”, Journal of Monetary Economics, 50, 49-123.
- Acemoğlu, Daron ve Robinson, James (2012), Why Nations Fail: The Origins of Power, Prosperity and Poverty, New York: Crown Publishers.
- Akçay, Selçuk (2002), “Corruption and Economic Growth: Across-National Study” Ankara Üniversitesi SBF Dergisi, 57(1), 1-13.
- Aron, Janine (2000), “Growth and Institutions: A Review of The Evidence”, The World Bank Research Observer, 15(1), 99-135.
- Asteriou, Dimitrios ve Price, Simon (2000), “Political Instability and Economic Growth: UK Time Series Evidence”, Scottish Journal of Political Economy, 48(4), 383-3
- Barro, Robert J. (1991), “Economic Growth in a Cross Section of Countries”, Quarterly Journal of Economics, 106 (2), 407-444.
- Barro, Robert J. (1994), “Democracy and Growth”, NBER Working Paper, 4909, http://www.nber.org/papers/w4909.pdf?new_window=1, (Erişim: 05.06.2011).
- Beugelsdijk, Sjoerd ve Schaik, Ton Van (2003), “Social Capital and Regional Economic Growth”, Center For Economic Research, Discussion Paper, 102.
- Boulila, Ghazi ve diğerleri (2008), “Social Capital and Economic Growth: Empirical Investigations on the Transmission Channels”, International Economic Journal, 22(3), 399-417.
- Darby, Julia ve diğerleri (2000), “Political Uncertainty, Public Expenditure and Growth”, Cesifo Working Paper Series, Working Paper No. 310.
- Dawson, John W. (1998), “Institutions, Investment, and Growth: New CrossCountry and Panel Data Evidence”, Economic Inquiry, XXXVI, 603-619.
- Dawson, John W. (2003), “Causality in the Freedom–Growth Relationship” European Journal of Political Economy, 19, 479–495.
- Dawson, John W. (2010), “Macroeconomic Volatility and Economic Freedom—a Preliminary Analysis”, Economic Freedom of the World: 2010 Annual Report, 1751
Abstract
Neden bazı ülkeler diğer ülkelerden daha hızlı büyümektedir sorusu uzun yıllardır iktisatçıların tartıştığı temel konuların başında gelmektedir. Bu doğrultuda son yıllarda büyüme literatüründe öne çıkan görüş, ülkeler arası iktisadi büyüme farklılıklarının kurumsal yapı farklılıkları ile açıklanmasıdır. Bu çalışmada kurumsal yapının iktisadi büyüme üzerindeki etkisi 110 ülke için 2000-2009 yılları arasını kapsayan dönemde panel veri yöntemi kullanılarak araştırılmıştır. Kurumsal yapıyı temsil etmek üzere farklı göstergeler kullanılmıştır. Elde edilen sonuçlar, kurumsal yapının iktisadi büyüme üzerindeki etkisinin ülkelerin gelir düzeylerine göre değişme gösterdiğini ve özellikle gelişmiş olan ülkelerde iktisadi büyümenin önemli belirleyicilerinden biri olduğunu ortaya koymaktadır.
Keywords
References
- Abrams, Burton A. ve Lewis, Kenneth A. (1993), “Cultural and Institutional Determinants of Economic Growth: A Cross-Section Analysis”, Kluwer Academic Publishers, Public Choice 83, 273-289.
- Acemoğlu, Daron (2009), Introduction to Modern Economic Growth, New Jersey: Princeton University Press.
- Acemoğlu, Daron ve diğerleri (2003), “Institutional Causes, Macroeconomic Symptoms Volatility, Crises and Growth”, Journal of Monetary Economics, 50, 49-123.
- Acemoğlu, Daron ve Robinson, James (2012), Why Nations Fail: The Origins of Power, Prosperity and Poverty, New York: Crown Publishers.
- Akçay, Selçuk (2002), “Corruption and Economic Growth: Across-National Study” Ankara Üniversitesi SBF Dergisi, 57(1), 1-13.
- Aron, Janine (2000), “Growth and Institutions: A Review of The Evidence”, The World Bank Research Observer, 15(1), 99-135.
- Asteriou, Dimitrios ve Price, Simon (2000), “Political Instability and Economic Growth: UK Time Series Evidence”, Scottish Journal of Political Economy, 48(4), 383-3
- Barro, Robert J. (1991), “Economic Growth in a Cross Section of Countries”, Quarterly Journal of Economics, 106 (2), 407-444.
- Barro, Robert J. (1994), “Democracy and Growth”, NBER Working Paper, 4909, http://www.nber.org/papers/w4909.pdf?new_window=1, (Erişim: 05.06.2011).
- Beugelsdijk, Sjoerd ve Schaik, Ton Van (2003), “Social Capital and Regional Economic Growth”, Center For Economic Research, Discussion Paper, 102.
- Boulila, Ghazi ve diğerleri (2008), “Social Capital and Economic Growth: Empirical Investigations on the Transmission Channels”, International Economic Journal, 22(3), 399-417.
- Darby, Julia ve diğerleri (2000), “Political Uncertainty, Public Expenditure and Growth”, Cesifo Working Paper Series, Working Paper No. 310.
- Dawson, John W. (1998), “Institutions, Investment, and Growth: New CrossCountry and Panel Data Evidence”, Economic Inquiry, XXXVI, 603-619.
- Dawson, John W. (2003), “Causality in the Freedom–Growth Relationship” European Journal of Political Economy, 19, 479–495.
- Dawson, John W. (2010), “Macroeconomic Volatility and Economic Freedom—a Preliminary Analysis”, Economic Freedom of the World: 2010 Annual Report, 1751
Details
| Primary Language | Turkish |
|---|---|
| Journal Section | Articles |
| Authors | |
| Publication Date | September 1, 2013 |
| Submission Date | November 2, 2014 |
| Published in Issue | Year 2013 Volume: 8 Issue: 3 |