The Effects of Liberalization Policies on Economic Development in Developing Countries

Öz

Globalisation wave was started from developed countries, for this aim the releasing policies implemented by developing countries. The releasing economic policies are generally named as economic freedom and recommended to developing countries. The purpose of this study is to reveal the effects of the releasing policies which are the recommended solutions to developing countries, on development. For this goal, the effects of fiscal freedom index, monetary freedom index and trade freedom index on human development index is analyzed with panel data method. Countries are chosen from South east Asian countries and Latin American countries. In the study 2002-2013 period was available to eliminate the effects of 1998 Asian crisis. The result of this study is, fiscal freedom, monetary freedom and government spending has no cointegtration with human development but trade freedom has a negative directional cointegtration with human development.

Anahtar Kelimeler

• Economic Freedom,Human Development,Fiscal Feedom Index,Monetary Feedom Index And Trade Freedom Indexes,Panel Data Analysis

Kaynakça

1. Abrams, A. Burton and Lewis, A. Kenneth, 1995. Cultural and institutional determinants of economic growth: A cross-section analysis, Kluwer Academic Publishers, Public Choice S3: 273-289
2. Acemoğlu, Daron, Robinson, James A. (2012). Ulusların Düşüşü, 7. Basım, İstanbul, Doğan Kitap, İstanbul
3. Adkins, C. Lee, Moomaw, L. Ronald and Savvides, Andreas, 2002. Institutions, Freedom and Technical Efficiency, Southern Economic Journal 2002, 69(1), 92-108
4. Akıncı, M., Yüce, G. ve Yılmaz, Ö., 2013. “Ekonomik Özgürlüklerin İktisadi Büyüme Üzerindeki Etkileri: Bir Panel Veri Analizi”, Anadolu Üniversitesi Sosyal Bilimler Dergisi, Cilt.14 Sayı 2,
5. Alataş, Sedat, 2014. Ekonomik Kalkınmayı Belirleyen Faktörler: Ampirik Bir Analiz, Thesis (Graduate) T.C. Adnan Menderes Üniversitesi Sosyal Bilimler Enstitüsü
6. Arezki, Rabbah vd., 2013. Testing the Prebisch-Singer Hypothesis since 1650: Evidence from Panel Techniques that Allow for Multiple Break, IMF Working Paper, Ağustos 2013,1-35
7. Baltagi, Badi H., 2001. Econometric Analysis, of Panel Data Second Edition, John Wiley
8. Baltagi, Badi, ve diğerleri(2011). Testing for sphericity in a fixed effects panel data model Econometrics Journal, volume 14, pp. 25–47. doi: 10.1111/j.1368-423X.2010.00331.x

9. Baran, Paul A., 2007. Büyümenin Ekonomi Politiği, 1. Basım, , Eriş Yayınları, 2007
10. Cebula J. Richard and Clark J. R, 2012. Lessons from the experience of OECD nations on macroeconomic growth and economic freedom, 2004–2008, Springer-Verlag Int Rev Econ (2012) 59: 231–243
11. Choi, I., 2001. Unit Root Tests for Panel Data, Journal of International Money and Finance 20: 249-272
12. Dawson, W. John, 1998. Instituons investment and growth, new cross country a panel data evidence, Western Economic Association International, Economic Inquiry Vol. XXXVI, October 1998, 603-619
13. Emsen, Ö. Selçuk ve Değer, M. Kemal, 2007. Ticari Ve Siyasal Liberalizasyon Ve Ekonomik Büyüme İlişkileri: Geçiş Ekonomileri Deneyimi, İktisadi ve İdari Bilimler Dergisi, Cilt: 21 Haziran 2007 Sayı: 2, 161-195
14. Ercan, F., 2009. Modernizm, Kapitalizm ve Azgelişmişlik, 5. Basım, İstanbul, Bağlam Yayıncılık
15. Erdem, Ekrem ve Tuğcu, Can Tansel., 2012. New Evidence on the Relationship Between Economic Freedom and Growth: A Panel Cointegration Analysis for The Case of OECD, Global Economy Journal, Volume 12, Issue 3, 2012, Article 5
16. Farr W. Ken vd., 1998. Economic freedom, political freedom, and economic well-being: A causality analysis, Cato Journal, Vol. 18, No. 2
17. Fraser Institute, 2016. Economic Freedom of the World: 2016 Annual Report, [online] Available from: https://www.fraserinstitute.org/studies/economic-freedom-of-the-world-2016-annual report [Accessed: 05.12.2016].
18. Freedom House, 2016. Freedom in the World Report, 2016, [online] Available from: https://freedomhouse.org/report/freedom-world/freedom-world-2016 [Accessed: 05.12.2016].
19. Gönel, Feride Doğan, 2013. Kalkınma Ekonomisi, 2. Basım, Ankara, Efil Yayınevi, 2013
20. Granger, Clive W. J. and Newbold, P., 1974. Spurious Regressions in Econometrics, Journal of Econometrics 2, s.111-120
21. Gujarati, Damoar, N., 2004. Basic Econometrics, fourth Edition, New York, McGraw-Hill
22. Gündüz, Orhan ve Esengün, Kemal, 2007, Gümrük Birliğinin Türkiye’nin Avrupa Birliği (15) Ülke Dış Ticareti Üzerine Etkileri, Gazi Osmanpaşa Üniversitesi Ziraat Fakültesi Dergisi, 2007, 24 (1), 43-49
23. Haan, D. Jakob ve Sturm, Jan-Egbert, 2000. On the relationship between economic freedom and economic growth, European Journal of Political Economy Vol. 16 _2000. 215–241
24. Hadri, Kaddour vd., 2015. Synergy Between An Improved Covariate Unitroot Test And Cross-Sectionally Dependent Panel Data Unit Root Tests, The Manchester School, Vol 83 No. 6 676–700 December 2015 doi: 10.1111/manc.12080
25. Harvey I. David vd. 2010. The Prebisch-Singer Hypothesis: Four Centuries Of Evidence The Review of Economics and Statistics, May 2010, 92(2): 367–377
26. Heckleman, C. Jac, 2000. Economic freedom and economic growth: a short-run causal investigatıon, Journal of Applied Economics, Vol. III, No. 1 (May 2000), 71-9
27. Heritage Foundation, 2016. [online] Available from: http://www.heritage.org/index/about [Accessed: 05.12.2017].
28. Herwartz, Helmut ve Walle M. Yabibal, 2014. Determinants of the link between financial and economic development: Evidence from a functional coefficient model, Economic Modelling, 37 (2014) 417–427
29. Huberman, Leo, 2003. Feodal Toplumdan Yirmi birinci Yüzyıla, 5. Basım, İletişim Yayınları
30. Islam, Sadequl, 1995. Economic freedom, per capita income and economic growth, Applied Economics Letters,1996, 3, 595–597
31. İnal, A., 2009. Durağan Olmayan Paneller ve Bir Uygulama, Thesis (Graduate), T.C. Çukurova Üniversitesi Sosyal Bilimler Enstitüsü, Adana
32. Kaynak, Muhteşem, 2011. Kalkınma İktisadı, 4. Basım, Ankara, Gazi Kitabevi
33. Kazgan, Gülten, 2005. Küreselleşme ve Ulus Devlet, 4. Basım, İstanbul Bilgi Üniversitesi Yayınları
34. Kök R. vd. 2006. Zengin Ülkelerden Azgelişmiş Ülkelere Kaynak Aktarma Mekanizmasının Gerekliliği ve Evrensel Bölüşüm Parametresi Üzerine Bir Deneme, Türkiye Ekonomi Kurumu, International Conference on Economics, Ankara, 1-25
35. Maddala, G. S., 2001. Introduction to Econometrics, Third Edition, John Wiley& Sons Ltd, England
36. Maddala, G.S. and Wu Shaowen, 1999. A Comparatıve Study Of Unıt Root Tests Wıth Panel Data And A New Sımple Test, Oxford Bulletin of Economics and Statistics, Specıal Issue (1999) 0305-9049
37. Mark, C. Nelson ve Sul, Donggyu, 2003. Cointegration Vector Estimation by Panel DOLS and Long-run Money Demand, Oxford Bulletin of Economics and Statistics, 65,5 (2003) 0305-9049,655-680
38. Ongan, N. T., 2012. Yoksulluk ve Sosyal Politika, Emine Tahsin (Eds.), Türkel Minibaş’a Armağan- Kriz, Kalkınma ve Türkiye Ekonomisi Seçme Yazılar,1. Basım içinde (365-382) ,İstanbul, Derin Yayınları
39. Oral, İ. Orkun, 2014. Demokratikleşme ve Ekonomik Özgürlüklerine Temel Makroekonomik Göstergeler Üzerindeki Etkisi, Thesis (PhD) T.C. Erzurum Atatürk Üniversitesi Sosyal Bilimler Enstitüsü
40. Ortega, Bıenvenıdo, Casquero, Antonıo and Sanjuán, Jesús, 2014. Growth In Human Development: The Role Of Corruptıon, Journal of International Development J. Int. Dev. 26, 974–998
41. Otero J., Smith, J. P. ve Giulietti, M., 2005. Testing for Seasonal Unit Roots in Heterogeneous Panels, Economics Letters. 86: 229–235
42. Pedroni, Peter, 1999. Critical Values For Cointegration Tests in Heterogeneous Panels With Multiple Regressors, Oxford Bulletin of Economics and Statistics, Special Issue (1999) 0305-9049
43. Piatek, Dawid, Szarzec, Katarzyna and Pilc Michal, 2013. Economic freedom, democracy and economic growth: a causal investigation in transition countries, Post-Communist Economies, 2013 Vol. 25, No. 3, 267–288
44. Ranis, Gustavo vd., 2000. Economic Growth and Human Development, World Development Vol. 28, No. 2, pp. 197-219
45. Ray, Elizabeth, Thompson, 2006. The Effects Of Trade Liberalization Policies On Human Development In Selected Least Developed Countries, Thesis (PhD), University of North Texas
46. Schumpeter, Joseph A. 2012. The Theory of Economic Development,, 1. Basım, Transaction Publishers, New Jersey-USA
47. Scully, Gerald, W., 2002. Economic freedom, government policy and the trade-off between equity and economic growth, Kluwer Academic Publishers Public Choice 113: 77–96
48. Smith, Adam 2005. Wealth of Nations, Pennsylvania State University-USA, Electronic Classics Series Available from: http://www.rrojasdatabank.info/Wealth-Nations.pdf [Accessed: 22.12.2016].
49. Spindler, Z. A. ve Vanssay D. X., 1994. Freedom and growth: Do constitutions matter?, Kluwer Academic Publishers 78: 359-372
50. Stilglitz, Joseph E., 2006. Küreselleşme Büyük Hayal Kırıklığı, 4. Basım, İstanbul, Plan Yayıncılık
51. Tatoğlu, Ferda Yerdelen, 2013. İleri Panel Veri Analizi, 2. Baskı, İstanbul, Beta Yayıncılık
52. Todaro, Michalel ve Smith, Stephan, 2009. Economic Development, 10. Basım, London, Pearson Education Limited
53. Ünsal, Erdal, 2007. İktisadi Büyüme, 1. Basım, Ankara, İmaj Yayınları
54. Vlastou, Ioanna, 2010. Forcing Africa to open up to trade: is it worth it?, The Journal of Developing Areas ,Volume 44, Number 1, Fall 2010 pp. 25-3
55. Yalman, İlkay Noyan ve Sandalcılar, A.R. ve Demirkoparan F., 2011. Özgürlükler ve Ekonomik Kalkınma: Latin Amerika ve Türkiye, Atatürk Üniversitesi İİBF Dergisi, 10. Ekonometri ve İstatistik Sempozyumu Özel Sayısı, 431-444
56. Yardımcı, Pınar, 2006. İçsel Büyüme Teorileri ve Türkiye Ekonomisinde İçsel Büyümenin Dinamikleri, Selçuk Üniversitesi Karaman İ.İ.B.F Dergisi, Sayı 10, Yıl 9, Haziran 2006, 96-115
57. Yardımcıoğlu, Fatih ve Gülmez, Ahmet, 2013. Türk Cumhuriyetlerinde İhracat ve Ekonomik Büyüme İlişkisi: Panel Eşbütünleşme ve Panel Nedensellik Analizi, Bilgi Ekonomisi ve Yönetimi Dergisi / 2013 Cilt: VIII Sayı: I
58. Yülek, Murat, 1997. İçsel Büyüme Teorileri Gelişmekte olan Ülkeler ve Kamu Politikaları Üzerine, Ankara Hazine Dergisi, Sayı 6, 1-15