AN EXAMINATION OF THE IMPACT OF SOCIAL CAPITAL ON GROWTH IN THE AXIS OF DEMOCRATIZATION

Year 2021, Issue: 123, 81 - 106, 04.02.2022

Nazmiye Tekdemir , Pelin Varol İyidoğan

https://doi.org/10.52836/sayistay.1068409

Abstract

The social capital phenomenon is considered as the missing link of growth by recent studies. Attention has been drawn to the determinant of institutional factors, especially a stable democratic structure, for the occurrence of an impact of social capital on growth. In this regard, our study, covering 138 countries over the period 2009-2018, consists of two research questions. Firstly, “Does the economic growth performance of countries depend on accumulation of social capital as well as the physical and human capital accumulation highlighted by the theory?” Secondly, “Does the impact of social capital on growth change depending on the democratization level of the countries?” Linear panel data analysis was employed to examine the first question and the panel threshold method proposed by Hansen (1999) was utilized for the second research question. This nonlinear approach constitutes the original value of our study. Our analysis results indicate that, in countries where the democratization level is above a certain level, social capital has a determining impact on growth. In this framework, our findings indicate that the establishment and maintenance of democratic structure is one of the substantial policy focuses in the process of social capital-led growth.

Keywords

Social Capital, Growth, Democracy, Panel Threshold Model

DEMOKRATİKLEŞME EKSENİNDE SOSYAL SERMAYENİN BÜYÜME ÜZERİNDEKİ ETKİSİNE YÖNELİK BİR İNCELEME

Abstract

Sosyal sermaye olgusu son dönem çalışmalarda büyümenin kayıp halkası olarak görülmektedir. Sosyal sermayenin büyüme üzerinde etkili olabilmesi noktasında ise; başta istikrarlı demokratik bir yapı olmak üzere, kurumsal faktörlerin belirleyiciliğine dikkat çekilmiştir. Bu bağlamda 2009-2018 yılları arası 138 ülkeyi kapsayan çalışmamızda iki temel araştırma sorusundan yola çıkılmıştır. Bunlardan ilki, “Ülkelerin ekonomik büyüme performansı, teorinin ön plana çıkardığı fiziki ve beşerî sermaye birikiminin yanı sıra sosyal sermaye birikimine de dayanmakta mıdır?” İkincisi ise, “Sosyal sermayenin büyüme üzerindeki etkisi, ülkelerin demokratikleşme düzeyine bağlı olarak değişmekte midir?” şeklindedir. İlk soruya yönelik olarak doğrusal panel veri analizi, ikinci soruya yönelik olarak ise Hansen (1999) tarafından ortaya konulan panel eşik yaklaşımı kullanılmıştır. Çalışmanın özgün değerini oluşturan ikinci kısımda yapılan analiz sonuçlarına göre demokratikleşme düzeyinin belirli bir değerin üzerinde olduğu ülkelerde, sosyal sermaye büyüme üzerinde belirleyici bir etkiye sahiptir. Bu kapsamda bulgularımız, sosyal sermayenin büyüme yaratma sürecinde önemli politika odaklarından birinin demokratik yapının tesis ve temin edilmesi olduğunu göstermektedir.

Keywords

Sosyal Sermaye, Büyüme, Demokrasi, Panel Eşik Modeli

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