Abstract
In recent years, studies emphasizing the impact of democracy on economic growth have stood out in growth literature. Accordingly, democracy reduces the uncertainty about the future by creating an environment of trust and thus has a positive effect on economic growth by encouraging capital accumulation and investments. In this study, the relationship between democracy and economic growth has been analyzed for the MINT countries. In this sense; the given relationship were analyzed via panel data method between the periods of 1990-2012. The results obtained by using different variables to represent the level of democracy in countries, revealed that it was a positive relationship between democracy and economic growth. According to the findings obtained, it can be expressed that policies to increase the level of democracy may a positive effect on the economic growth of the countries
Keywords
References
- Abrams, Burton A. ve Lewis, Kenneth A. (1993), “Cultural and Institutional Determinants of Economic Growth: A Cross-Section Analysis”, Public Choice, 83, 273-289.
- Acemoglu, Daron; Naidu, Suresh; Restrepo, Pascual ve Robinson, James A. (2014), “Democracy Does Cause Growth”, Nber Working Paper Series, Working Paper 20004.
- Asteriou, Dimitrios ve Price, Simon (2000), “Political Instability and Economic Growth: Uk Time Series Evidence”, Scottish Journal of Political Economy, 48(4), 383-399.
- 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: 07.05.2015).
- Beşkaya, Ahmet ve Manan, Ömer (2009), “Ekonomik Özgürlükler ve Demokrasi ile Ekonomik Performans Arasındaki İlişkinin Zaman Serileri ile Analizi: Türkiye Örneği”, Zonguldak Karaelmas Üniversitesi Sosyal Bilimler Dergisi, 5(10), 47-76.
- De Haan, Jakob ve Siermann, Clemens L.J. (1995), “New Evidence on the Relationship between Democracy and Economic Growth”, Public Choice, 86, 175-198.
- Durotoye, Adeolu (2014), “The MINT Countries as Emerging Economic Power Bloc: Prospects and Challenges”, Developing Country Studies, 4(5), 99-107.
- Ghosh, Sugata ve Gregoriou, Andros (2009), “Is Democracy Beneficial for Growth in Countries with Low Ethnic Diversity?”, Economics and Finance Working Paper Series, Working Paper No. 09-08.
- Helliwell, J.F. (1994), “Empirical Linkages between Democracy and Economic Growth”, British Journal of Political Science, 24, 225-248.
- Jacob, Jeffry (2015), “Democracy and Growth: A Dynamic Panel Data Study”, http://www.cla.auburn.edu/economics/assets/File/jo-ecogrowth-dem-4.pdf, (Erişim: 07.05.2015).
- La Porta, Rafael ve diğerleri (2008), “The Economic Consequences of Legal Origins”, Journal of Economic Literature, 46 (2), 285-332.
- Leschke, Martin (2000), “Constitutional Choice and Prosperity: A Factor Analysis”, Constitutional Political Economy, 11, 265-279.
- Mauro, Paolo (1995), “Corruption and Growth”, The Quarterly Journal of Economics, 110, 681-713.
- Minier, Jenny A. (1998), “Democracy and Growth: Alternative Approaches,” Journal of Economic Growth 3, 241–266.
- Rodrik, Dani (2000), “Institutions for High Quality Growth: What They are and How to Acquire Them”, National Bureau of Economıc Research, Working Paper 7540.
- Svensson, Jakob (1998), “Investment, Property Rights and Political Instability: Theory and Evidence”, European Economic Review, 42, 1317-1341.
- Tavares, J. ve R. Wacziarg (2001), “How Democracy Affects Growth”, European Economic Review, 45, 1341-1378.
- Ulubaşoğlu, Mehmet A. ve Doucouliagos, Chris (2004), “Institutions and Economic Growth: A Systems Approach”, Econometric Society 2004, Australasian Meetings Paper No. 63.
- Yay, G. Gürkan (2002), “İktisadi Gelişme ve Demokrasi İlişkisi Üzerine Bir Sınama”, İktisat Fakültesi Mecmuası, 52(1), 27-54.
- Yılmaz, Emre (2015), “Ekonomik Düzlemde Yeni Senaryo: BRIC Ülke Bloku Yerine Türkiye’li MINT”, http://www.kto.org.tr/d/file/ekonomik-duzlemde-yeni-senaryo---birc-bloku-yerine-turkiyeli-mint.pdf (Erişim: 05.04.2015).
- Zouhaier, Hadhek (2012), “Democracy, Investment and Economic Growth”, International Journal of Economics and Financial Issues, 2(3), 233-240.
Abstract
Son yıllarda büyüme literatüründe demokrasinin ekonomik büyüme üzerindeki etkisine vurgu yapan çalışmalar ön plana çıkmıştır. Buna göre, demokrasiler güven ortamı yaratarak geleceğe ilişkin belirsizlikleri azaltmakta ve böylece sermaye birikimi ve yatırımları teşvik ederek ekonomik büyümeyi olumlu etkilemektedir. Bu çalışmada demokrasi ve ekonomik büyüme ilişkisi MINT ülkeleri için analiz edilmiştir. Söz konusu ilişki 1990-2012 yılları arası dönemde panel veri analiz tekniği kullanılarak araştırılmıştır. Ülkelerdeki demokrasi düzeyini temsil etmek üzere farklı değişkenlerin kullanıldığı çalışmada elde edilen sonuçlar, demokrasi ve ekonomik büyüme arasında pozitif yönlü bir ilişki olduğunu göstermektedir. Elde edilen bu bulguya göre, MINT ülkelerinde demokrasi düzeyini arttırmaya yönelik politikaların ülkelerin ekonomik büyümesini olumlu etkileyeceği ifade edilebilir.
Keywords
References
- Abrams, Burton A. ve Lewis, Kenneth A. (1993), “Cultural and Institutional Determinants of Economic Growth: A Cross-Section Analysis”, Public Choice, 83, 273-289.
- Acemoglu, Daron; Naidu, Suresh; Restrepo, Pascual ve Robinson, James A. (2014), “Democracy Does Cause Growth”, Nber Working Paper Series, Working Paper 20004.
- Asteriou, Dimitrios ve Price, Simon (2000), “Political Instability and Economic Growth: Uk Time Series Evidence”, Scottish Journal of Political Economy, 48(4), 383-399.
- 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: 07.05.2015).
- Beşkaya, Ahmet ve Manan, Ömer (2009), “Ekonomik Özgürlükler ve Demokrasi ile Ekonomik Performans Arasındaki İlişkinin Zaman Serileri ile Analizi: Türkiye Örneği”, Zonguldak Karaelmas Üniversitesi Sosyal Bilimler Dergisi, 5(10), 47-76.
- De Haan, Jakob ve Siermann, Clemens L.J. (1995), “New Evidence on the Relationship between Democracy and Economic Growth”, Public Choice, 86, 175-198.
- Durotoye, Adeolu (2014), “The MINT Countries as Emerging Economic Power Bloc: Prospects and Challenges”, Developing Country Studies, 4(5), 99-107.
- Ghosh, Sugata ve Gregoriou, Andros (2009), “Is Democracy Beneficial for Growth in Countries with Low Ethnic Diversity?”, Economics and Finance Working Paper Series, Working Paper No. 09-08.
- Helliwell, J.F. (1994), “Empirical Linkages between Democracy and Economic Growth”, British Journal of Political Science, 24, 225-248.
- Jacob, Jeffry (2015), “Democracy and Growth: A Dynamic Panel Data Study”, http://www.cla.auburn.edu/economics/assets/File/jo-ecogrowth-dem-4.pdf, (Erişim: 07.05.2015).
- La Porta, Rafael ve diğerleri (2008), “The Economic Consequences of Legal Origins”, Journal of Economic Literature, 46 (2), 285-332.
- Leschke, Martin (2000), “Constitutional Choice and Prosperity: A Factor Analysis”, Constitutional Political Economy, 11, 265-279.
- Mauro, Paolo (1995), “Corruption and Growth”, The Quarterly Journal of Economics, 110, 681-713.
- Minier, Jenny A. (1998), “Democracy and Growth: Alternative Approaches,” Journal of Economic Growth 3, 241–266.
- Rodrik, Dani (2000), “Institutions for High Quality Growth: What They are and How to Acquire Them”, National Bureau of Economıc Research, Working Paper 7540.
- Svensson, Jakob (1998), “Investment, Property Rights and Political Instability: Theory and Evidence”, European Economic Review, 42, 1317-1341.
- Tavares, J. ve R. Wacziarg (2001), “How Democracy Affects Growth”, European Economic Review, 45, 1341-1378.
- Ulubaşoğlu, Mehmet A. ve Doucouliagos, Chris (2004), “Institutions and Economic Growth: A Systems Approach”, Econometric Society 2004, Australasian Meetings Paper No. 63.
- Yay, G. Gürkan (2002), “İktisadi Gelişme ve Demokrasi İlişkisi Üzerine Bir Sınama”, İktisat Fakültesi Mecmuası, 52(1), 27-54.
- Yılmaz, Emre (2015), “Ekonomik Düzlemde Yeni Senaryo: BRIC Ülke Bloku Yerine Türkiye’li MINT”, http://www.kto.org.tr/d/file/ekonomik-duzlemde-yeni-senaryo---birc-bloku-yerine-turkiyeli-mint.pdf (Erişim: 05.04.2015).
- Zouhaier, Hadhek (2012), “Democracy, Investment and Economic Growth”, International Journal of Economics and Financial Issues, 2(3), 233-240.
Details
| Primary Language | Turkish |
|---|---|
| Journal Section | Research Articles |
| Authors | |
| Publication Date | May 25, 2015 |
| Submission Date | May 25, 2015 |
| Published in Issue | Year 2015 |
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