Political Economy of Regional Development: Political Pluralism and Investment Relationship

Yıl 2018, Cilt: 26 Sayı: 37, 243 - 255, 31.07.2018

Necmettin Çelik Mehmet Karaçuka

https://doi.org/10.17233/sosyoekonomi.2018.03.14

Cited By: 1

Öz

Public and private fixed capital investments are vital dynamics of the regional economic growth. Therefore, the potential determinants of regional allocations of public and private investments must be investigated to establish persistent and balanced regional development. One of them is political pluralism. This study includes analysis of the relationship between political pluralism and regional allocation of public and private investments and also regional economic growth. For this purpose, Fixed Effects Panel Model on which analyzed 26 NUTS-II Regions over 2008-2011 period was established by using Herfindahl-Hirschman Index which created by vote ratios of political parties in 2007 and 2011 Parliamentary Elections. The findings of the model show that political polarization has positive effects on public and private investments and it is important determinant of regional development. Also, literacy and manufacturing rates effects regional growth positively through positive externalities on investments.

Anahtar Kelimeler

Regional Development, Political Pluralism, Investmen Decisions, Herfindahl-Hirschamn Index

Bölgesel Kalkınmanın İktisadi Politiği: Siyasal Çoğulculuk ve Yatırım İlişkisi

Öz

Kamu ve özel kesim yatırımları bölgesel kalkınmanın önemli bir dinamiğini oluşturmaktadır. Bu sebeple, kalıcı ve dengeli bölgesel kalkınmanın sağlanabilmesi için gerek kamusal; gerekse de özel kesim yatırımlarının bölgesel dağılımına etki eden muhtemel unsurların irdelenmesi gerekir. Bu unsurlardan biri siyasal çoğulculuk olgusudur. Çalışmada, siyasal çoğulculuk olgusu ile kamu ve özel kesim yatırım kararlarının bölgesel tahsisi arasındaki ilişki incelenmek istenmiştir. Bu amaçla, 2007 ve 2011 Milletvekili Genel Seçimleri’nde siyasi partilerin aldıkları oy oranları üzerinden oluşturulan Herfindahl-Hirschman Endeksi yardımıyla 2008-2011 dönemi ve 26 İBBS-II Bölgesi kapsamında alternatif Sabit Etkiler Panel Modelleri tahmin edilmiştir. Elde edilen bulgular siyasal çoğulculuğun kamu ve özel kesim yatırım kararları üzerinde arttırıcı etkileri olduğu ve dikkate alınan örneklem dâhilinde bölgesel kalkınmanın önemli bir belirleyicisi olduğu yönündedir. Bununla birlikte, okullaşma ve sanayileşme oranlarının yatırım kanalları aracılığıyla bölgesel kalkınma üzerinde pozitif dışsallıklar yaratan unsurlar olduğu öne çıkan bulgular arasındadır.

Anahtar Kelimeler

Bölgesel Kalkınma, Siyasal Çoğulculuk, Yatırım Kararları, Herfindahl-Hirschman Endeksi

Kaynakça

• Barro, R. J. (1991). Economic Growth in a Cross Section of Countries. The Quarterly Journal of Economics, 106 (2), 407-443. doi: 10.2307/2937943.
• Dasgupta, S., Bhattacharya, D., Neethi, D. J. (2013). Does Democracy Impact Economic Growth? Exploring the Case of Bangladesh - A Cointegrated VAR Approach. CPD-CMI Working Paper 5, 1-22. https://mpra.ub.uni- muenchen.de/56621/1/MPRA_paper_56621.pdf
• Durham, J. B. (1999). Economic Growth and Political Regimes. Journal of Economic Growth, 4, 81-111. doi: 10.1023/A:1009830709488
• Feng, Y. (1997). Democracy, Political Stability and Economic Growth. British Journal of Politcal Science, 27 (3), 391- 418. doi: 10.1017/S0007123497000197
• Gujarati, D. N., Porter, D. C. (2012). Temel Ekonometri. İstanbul: Literatür.
• Grier, K. B., Tullock, G. (1989). An Empirical Analysis of Cross-National Economic Growth, 1951-80. Journal of Monetary Economics, 24 (2), 259-276. doi: 10.1016/0304-3932(89)90006-8.
• Helliwell, J. F. (1994). Empirical Linkages Between Democracy and Economic Growth. British Journal of Politcal Science, 24 (2), 225-248. doi: 10.3386/w4066
• Kurzman, C., Werum, R., Burkbart, R. E. (2002). Democracy's Effect on Economic Growth: A Pooled Time-Series Analysis, 1951-1980. Studies in Comparative International Development, 37 (1), 3-33. doi: 10.1007/BF02686336.
• Leblang, D. A. (1996). Property Rights, Democracy and Economic Growth. Politcal Research Quarterly, 49 (1), 5- 26.
• Marsh, R. M. (1988). Sociological Explanations of Economic Growth. Studies in Comparative International Development, 41-76. doi: 10.1007/BF02686984
• Mbaku, J. M., Kimenyi, M. S. (1997). Macroeconomic Determinants of Growth: Further Evidence on the Role of Political Freedom. Journal of Economic Development, 22 (2), 119-132. http://www.jed.or.kr/full-text/22- 2/Mukum.PDF
• Papaioannou, E., Siourounis, G. (2008). Democratisation and Growth. The Economic Journal, 118 (532), 1520-1551. doi: 10.1111/j.1468-0297.2008.02189.x
• Qureshi, A., Ahsan, T., Wang, M. (2015). Democracy, Regime Stability and Economic Growth: A Cross Country Dynamic Panel Data Analysis. Journal of Economics and Sustainable Development, 6 (12), 23-44. http://iiste.org/Journals/index.php/JEDS/article/view/23638/24264
• Scully, G. W. (1988). The Institutional Framework and Economic Development. Journal of Political Economy, 96 (3), 652-662. http://www.jstor.org/stable/1830363
• Sirowy, L., Inkeles, A. (1990). The Effects of Democracy on Economic Growth and Inequality: A Review. Studies in Comparative International Development, 126-157. 10.1007/BF02716908
• Wang, C. (2012). The Effects of Part Fractionalization and Party Polarization on Democracy. Party Politics, 20 (5), 687-699. 10.1177/1354068812448691