Institutional Quality and Economic Growth: Panel Causality Analysis

Öz

The aim of this study is to analyze the relation between the institutional quality and economic growth via panel data analysis. The data from 83 countries was analyzed for four income groups by covering the years as 2000-2010. Apart from the previous studies, this application takes into consideration income groups of countries. According to the results, a causality relation for the low income group doesn't exist. On the other hand, one way causality relation exists from institutional quality towards economic growth in middle income groups, and bidirectional causality exists for high income group. In this respect, these results show that institutional quality policies which sustain economic growth could be effective apart from low level income groups.

Anahtar Kelimeler

• Institutional Quality
• Economic Growth
• Panel Causality Analysis

Kurumsal Kalite ve Ekonomik Büyüme: Panel Nedensellik Analizi

Öz

Bu çalışmanın amacı kurumsal kalite ile ekonomik büyüme arasındaki ilişkinin panel veri analizi ile araştırılmasıdır. 83 ülkeye ait veriler, dört gelir grubu için 2000-2010 yıllarını kapsayacak şekilde analiz edilmiştir. Önceki çalışmalardan farklı olarak uygulama, ülkelerin gelir gruplarını göz önünde bulundurmaktadır. Sonuçlara göre alt gelir gurubunda nedensellik ilişkisi bulunmamaktadır. Orta gelir gruplarında kurumsal kaliteden ekonomik büyümeye doğru tek yönlü nedensellik ilişkisi bulunurken, yüksek gelir grubunda nedensellik her iki yönde bulunmaktadır. Bu açıdan bulgular ekonomik büyümeyi sağlayacak kurumsal kalite politikalarının düşük gelir grubu haricinde etkili olacağına işaret etmektedir.

Anahtar Kelimeler

• Kurumsal Kalite
• Ekonomik Büyüme
• Panel Nedensellik Analizi

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