THE EFFECTS OF POLITICAL STABILITY/UNSTABILITY ON ECONOMIC GROWTH: AN APPLICATION ON THE WORLD’S LARGEST FIRST TWENTY ECONOMIES 1996-2015

Abstract

In this study, the effects of political stability/unstability on economic growth are examined by analyzing panel data for the period of 1996-2015 on the world’s largest first twenty economies which have different political regime types. In the study, it is aimed to assess the effects of political stability/instability in the differentiation of the development levels of these 20 economies, grouped as economically developed G-12 and developing G-8 countries. As a result of the study, it was determined that the effects of the political stability/instability index on economic growth in the G-12 and G-8 groups were respectively positive/negative direction and statistically significant in the review period. At the same time, it has been found that the fact that the study has respectively a stable and unstable structure in terms of politics in comparison with the accumulation of physical-human capital the degree of integration with the outside world in the differentiation of the development levels of the countries in the G-12 and G-8 groups is relatively more effective

Keywords

• Sustainable Growth,Political Stability/Instability Index,Largest First Twenty

POLİTİK İSTİKRARIN/İSTİKRARSIZLIĞIN EKONOMİK BÜYÜME ÜZERİNDEKİ ETKİLERİ: DÜNYANIN EN BÜYÜK İLK YİRMİ EKONOMİSİ ÜZERİNDE BİR UYGULAMA 1996-2015

Öz

Bu çalışmada, politik istikrarın/istikrarsızlığın ekonomik büyüme üzerindeki etkileri farklı politik rejim tiplerine sahip dünyanın en büyük ilk 20 ekonomisi üzerinde 1996-2015 dönemi için panel veri analiziyle incelenmektedir. Çalışmada, ekonomik açıdan gelişmiş G-12 ve gelişmekte olan G-8 ülkeleri olarak gruplandırılan bu 20 ekonominin gelişmişlik düzeylerinin farklılaşmasında politik istikrarın/istikrarsızlığın etkilerinin değerlendirilmesi amaçlanmaktadır. Çalışma sonucunda, inceleme döneminde G-12 ve G-8 gruplarında politik istikrar/istikrarsızlık endeksinin ekonomik büyüme üzerindeki etkilerinin sırasıyla pozitif/negatif yönlü ve istatistiki açıdan anlamlı olduğu tespit edilmiştir. Bununla birlikte, çalışmada G-12 ve G-8 grubundaki ülkelerin gelişmişlik düzeylerinin farklılaşmasında fiziksel-beşeri sermaye birikiminin ve dış dünyayla bütünleşme derecelerine kıyasla politik açıdan sırasıyla istikrarlı ve istikrarsız bir yapıya sahip olmalarının nispeten daha fazla etkili olduğu belirlenmiştir.

Anahtar Kelimeler

• Sürdürülebilir Büyüme,Politik İstikrar/İstikrarsızlık Endeksi,En Büyük

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