The Relationship Between Institutions and Economic Performance: Theoretical Framework

Yıl 2017, Cilt: 2 Sayı: 7, 109 - 118, 26.12.2017

Yıldırım Beyazıt Çiçen

https://doi.org/10.23834/isrjournal.363157

Cited By: 2

Öz

In this study, the relationship between
institutions and economic performance is theoretically addressed. According to
the recent literature, institutions are regarded as the main cause of economic
growth differences in countries. According to the literature, good institutions
that improve economic welfare can be examined under three headings: the
applicability of property rights, the restriction of politicians and other
strong groups and the equality of opportunity. In our study, the fundamental
characteristics that determine this relationship are examined under the title
of property rights, legal system-the rule of law and the government structure
and democracy in a broader way. Secondly, if the rule of law is not in
question, the rights arising from the independent judiciary shall not work
properly and the contract will be unfulfilled.. Investments and growth will be
negatively affected by this situation. In the third title, the conclusions of
democracy-growth are different.  The studies in the literature are at the
point where the democracy and the autocracy have more positive results on
growth comparatively.

Anahtar Kelimeler

Institutions, Economic Performance, Property Rights, Rule of Law, Democracy, Democracy

Kurumlar ve Ekonomik Performans İlişkisi: Teorik Çerçeve

Öz

Bu çalışmada kurumlar ve ekonomik
performans ilişkisi teorik açıdan ele alınmıştır. Son dönem literatürüne göre
kurumlar, ülkelerin ekonomik büyüme farklılıklarının temel nedeni olarak kabul
edilmektedir. Literatüre göre, ekonomik refahı artıran iyi kurumlar temelde 3
başlık altında incelenebilir: Mülkiyet haklarının uygulanabilir olması,
politikacılar ve diğer güçlü grupların kısıtlanması ve fırsat eşitliğinin
sağlanması. Çalışmamızda daha geniş bir şekilde bu ilişkiyi belirleyen temel
karakteristikler mülkiyet hakları, yasal sistem-hukukun üstünlüğü ile hükümetin
yapısı ve demokrasi başlıkları altında detaylı bir şekilde incelenmiştir.
Büyümenin sağlanması için güvenilir bir mülkiyet hakkına ihtiyaç vardır. İkinci
olarak, hukukun üstünlüğü söz konusu değilse, bağımsız yargıdan
bahsedilemeyecek ve sözleşmeden doğan haklar yerine getirilemeyecektir.
Yatırımlar ve büyüme bu durumdan negatif etkilenecektir. Üçüncü başlıkta,
demokrasi-büyüme çalışmalarına ilişkin sonuçlar farklı neticelenmektedir.
Literatürde yapılan çalışmalar, karşılaştırmalı olarak demokrasi ve otokrasiden
hangisinin büyüme üzerinde daha olumlu sonuçlar verdiği noktasındadır.

Anahtar Kelimeler

Kurumlar, Ekonomik Performans, Hukukun Üstünlüğü, Demokrasi, Mülkiyet hakları, Demokrasi

Kaynakça

• Acemoğlu, D. (2003). Why not a Political Coase Theorem? Social Conflict, Commitment, and Politics. Journal of Comparative Economics, 31(4), 620-652.
• Acemoğlu, D., & Johnson, S. (2005). Unbundling Institutions. Journal of Political Economy, 113(5), 949-995.
• Acemoğlu, D., Johnson S., & Robinson J. (2000). The Colonial Origins of Comparative Development: An Empirical Investigation. NBER Working Papers, No.w7771.
• Acemoğlu, D., Johnson S., & Robinson J. (2005). Institutions as a Fundamental Cause of Long-run Growth. Handbook of Economic Growth, 1, 385-472.
• Acemoğlu, D., & Robinson, J. (2008). The Role of Institutions in Growth and Development. Commision on Growth and Development Working Papers, No.10.
• Aron, J. (2000). Growth and Institutions: A Review of the Evidence. The World Bank Research Observer, 15(1), 99-135.
• Asoni, A. (2008). Protection of Property Rights and Growth as Political Equilibria. Journal of Economic Surveys, 22(5), 953-987.
• Butkiewicz, J. L., & Yanıkkaya H. (2006). Institutional Quality and Economic Growth: Maintenance of the Rule of Law or Democratic Institutions, or Both?. Economic Modelling, 23(4), 648-661.
• Clague, C., Keefer P., Knack S., & Olson M. (1996). Property and Contract Rights in Autocracies and Democracies. Journal of Economic Growth, 1(2), 243-276.
• Dobler, C. (2011). The Impact of Formal and Informal Institutions on Economic Growth: A Case Study on the MENA Region. Frankfurt: Peter Lang Publishing.
• Dollar, D., & Kraay A. (2002). Growth is Good for the Poor. Journal of Economic Growth, 7(3), 195-225.
• Glaeser, E., La Porta R., Lopez-de-Silanes F., & Shleifer A. (2004). Do Institutions Cause Growth?. Journal of Economic Growth, 9(3), 271-303.
• Haggard, S., & Tiede L. (2011). The Rule of Law and Economic Growth: Where are We?. World Development, 39(5), 673-685.
• Hall, R. E., & Jones C. I. (1999). Why do Some Countries Produce So Much More Output per Worker than Others?. NBER Working Papers, No.w6564.
• Isham, J., Kaufmann, D. & Pritchett, L. H. (1997). Civil Liberties, Democracy, and The Performance of Government Projects. The World Bank Economic Review, 11(2), 219-242.
• Kaufmann, D., Kraay A., & Zoido-Lobatón P. (2002). Governance Matters II: Updated Governance Indicators for 2000-01. World Bank Policy Research Working Paper, No.2772.
• Knack, S., & Keefer P. (1995). Institutions and Economic Performance: Cross-country Tests Using Alternative Institutional Measures. Economics and Politics, 7(3), 207-227.
• Keefer, P. (2007). Beyond Legal Origin and Checks and Balances: Political Credibility, Citizen Information, and Financial Sector Development. World Bank Policy Research Working Paper. No.4154.
• Khalil, M, Ellaboudy, S., & Denzau A. (2007). The Institutions and Economic Development in the OECD. International Research Journal of Finance and Economics, 12, 67-79.
• Khan, M. H. (2004). State Failure in Developing Countries and Institutional Reform Strategies. Toward Pro-Poor Policies. Aid, Institutions, and Globalization. ed. Bertil Tungodden, Nicholas Herbert Stern, Ivar Kolstad. Annual World Bank Conference on Development Economics. Washington, Oxford: the World Bank, Oxford University Press, 165-195.
• Khan, M. H. (2007). Governance and Growth: A Preliminary Report. http://eprints.soas.ac.uk/9958/1/Preliminary_Report.pdf (23.10.2017).
• Khan, M. H. (2010). Political Settlements and the Governance of Growth-enhancing institutions.http://eprints.soas.ac.uk/9968/1/Political_Settlements_internet.pdf (23.10.2017)
• Khan, M. H. (2012). Governance and Growth: History, Ideology and Methods of Proof. Good Growth and Governance in Africa: Rethinking Development Strategies. ed. Akbar Noman, Kwesi Botchwey, Howard Stein, Joseph E. Stiglitz. Oxford: Oxford University Press, 51-79.
• Khan, M. H. (2013). Political Settlements and the Design of Technology Policy. The Industrial Policy Revolution II: Africa in the Twenty-first Century. ed. Joseph
• Stiglitz, Justin Yifu Lin, Ebrahim Patel. London, UK: Palgrave Macmillan, 243-280.
• La Porta, R., Lopez-de-Silanes F., Pop-Eleches C., & Shleifer A. (2004). Judicial Checks and Balances. Journal of Political Economy, 112(2), 445-470.
• Mauro, P. (1995). Corruption and Growth. The Quarterly Journal of Economics, 110(3), 681-712.
• North, D. C. (1990). Institutions, Institutional Change, And Economic Performance. Cambridge: Cambridge University Press.
• North, D. C. (2003). Understanding the Process of Economic Change. Forum Series on the Role of Institutions in Promoting Economic Growth. Forum 7, 1-21.
• Persson, T. & Tabellini G. (2007). The Growth Effect of Democracy: Is it Heterogenous and How Can it be Estimated?. NBER Working Papers, No.w13150.
• Rodrik, D. (2000). Institutions for High-Quality Growth: What They Are and How to Acquire Them?. Studies in Comparative International Development, 35(3), 3-31.
• Rodrik, D. (2007). One Economics, Many Recipes: Globalization, Institutions, and Economic Growth. 1. bs. Princeton: Princeton University Press.
• Rodrik, D., Subramanian A., & Trebbi F. (2004). Institutions Rule: The Primacy Of Institutions Over Geography and Integration in Economic Development. Journal of Economic Growth, 9(2), 131-165.
• Tabellini, G. (2008). Presidential Address: Institutions and Culture. Journal of the European Economic Association, 6(2/3), 255-294.
• Tornell, A. (1997). Economic Growth and Decline with Endogenous Property Rights. Journal of Economic Growth, 2(3), 219-250.
• Williamson, C.. R., & Kerekes, C. B. (2011). Securing Private Property: Formal versus Informal Institutions. Journal of Law and Economics, 54(3), 537-572.