THE EFFECT OF GOVERNMENT EFFECTIVENESS AND RULE OF LAW ON ECONOMIC GROWTH: THE CASE OF EUROPEAN UNION TRANSITION ECONOMIES

Öz

Government effectiveness can be effective on the country's economy through the political decision-making process and institutions. Legalization along with political decision-making process and institutions is also important for the countries. In a similar vein, the rule of law which is also important in terms of obeying the rules, may have effects on economy because of legal transactions. Therefore, it is important to analyse the effect of government effectiveness and the rule of law on the economy. In this study, the effect of government effectiveness and rule of law on economic growth for European Union transition economies was investigated by panel data analysis method over the period of 2002-2018. In the result of the study, it was concluded that government effectiveness had a positive effect on economic growth, but the rule of law had no statistically significant effect on economic growth. Moreover, the results indicate unidirectional causality from government effectiveness to economic growth and bidirectional causality from the rule of law and economic growth.

Anahtar Kelimeler

• Institutional factors,Government Effectiveness,Rule of Law,Governance,Economic Growth,Transition economies

HÜKÜMET ETKİNLİĞİ VE HUKUKUN ÜSTÜNLÜĞÜNÜN EKONOMİK BÜYÜME ÜZERİNDEKİ ETKİSİ: AVRUPA BİRLİĞİ GEÇİŞ EKONOMİLERİ ÖRNEĞİ

Öz

Hükümet etkinliği, ülke ekonomisi üzerinde politik karar alma süreci ve kurumlar aracılığıyla etkili olabilmektedir. Politik karar alma süreci ve kurumlar ile birlikte yasallaşma da ülke ekonomisi açısından önem taşımaktadır. Kurallara uyma açısından önemli olan hukukun üstünlüğü, ekonomi üzerinde işlemlerin yasal olması nedeniyle etkiler oluşturabilmektedir. Bu nedenle hükümet etkinliği ile hukukun üstünlüğünün ekonomi üzerindeki etkisini incelemek önem arz etmektedir. Bu çalışmada panel veri analizi yöntemi kullanılarak 2002-2018 yılları arasında Avrupa Birliği geçiş ekonomilerinde (11 ülkede) hükümet etkinliği ile hukukun üstünlüğünün ekonomik büyüme üzerindeki etkisi incelenmiştir. Yapılan çalışma sonucunda, hükümet etkinliğinin ekonomik büyümeyi pozitif, hukukun üstünlüğünün ise ekonomik büyüme üzerinde istatistiksel olarak anlamlı bir etkisinin olmadığı tespit edilmiştir. Ayrıca hükümet etkinliğinden ekonomik büyümeye doğru tek yönlü, hukukun üstünlüğü ile ekonomik büyüme arasında çift yönlü nedensellik ilişkisi tespit edilmiştir.

Anahtar Kelimeler

• Kurumsal Faktörler,Hükümet Etkinliği,Hukukun Üstünlüğü,Ekonomik Büyüme

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