kaüi̇i̇bfd Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 1309-4289 2149-9136 Kafkas Üniversitesi 10.36543/kauiibfd.2022.013 EFFECTS OF CORRUPTION ON ECONOMIC GROWTH UNDER MACROECONOMIC INSTABILITIES MAKROEKONOMİK İSTİKRASIZLIKLAR ALTINDA YOLSUZLUKLARIN EKONOMİK BÜYÜME ÜZERİNDEKİ ETKİLERİ https://orcid.org/0000-0002-8703-5622 Batu Ağırkaya Melahat IĞDIR ÜNİVERSİTESİ, IĞDIR MESLEK YÜKSEKOKULU https://orcid.org/0000-0001-9119-7416 Akyol Hikmet GÜMÜŞHANE ÜNİVERSİTESİ, ŞİRAN MESLEK YÜKSEKOKULU 06 29 2022 13 25 300 328 07 05 2021 02 13 2022 Copyright © 2010, Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 2010 Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi

This study examined impact of macroeconomic instability and corruption on economic performance in developing countries. For this purpose, long-term relationship between 1995-2019 was examined using Kao (1999) and Pedroni (1999, 2004) cointegration tests. Results, macroeconomic instability and corruption have affected economic performance in long run. Flexibility of long-term relationship between variables was analyzed using PDOLS, FMOLS and DOLSMG estimators. The results showed that macroeconomic instabilities negatively and significantly affect economic growth and FDI, which represent economic performance. As macroeconomic instability increases, economic revival will be negatively affected by this, while foreign capital investment in country will decrease. Consequently, implementation of policies that will reduce macroeconomic instability and uncertainties will increase economic recovery and encourage foreign capital investments in host countries. Impact of corruption on economic growth and FDI was found to be positive. Decreasing corruption in research countries favors economic growth and facilitates foreign investment increases.

Bu araştırmada gelişmekte olan ülkelerde makroekonomik istikrarsızlık ve yolsuzlukların ekonomik performans üzerindeki etkisi incelenmiştir. Bu amaç doğrultusunda 1995-2019 arasındaki dönem arasındaki uzun dönem ilişkisi Kao (1999) ve Pedroni (1999, 2004) eşbütünleşme testleri kullanılarak incelenmiştir. Sonuçlar, uzun dönemde makroekonomik istikrarsızlık ve yolsuzlukların ekonomik performansı etkilediğini göstermiştir. Değişkenler arasındaki uzun dönem ilişkisine dair esneklikler ise PDOLS, FMOLS ve DOLSMG tahmincileri kullanılarak analiz edilmiştir. Analiz sonuçları makroekonomik istikrarsızlıkların, ekonomik performansı temsil eden ekonomik büyüme ve DYSY’leri negatif yönlü ve anlamlı etkilediğini göstermiştir. Buna göre, makroekonomik istikrarsızlık arttıkça, ekonomik canlanma bundan olumsuz etkilenecek, ülkeye dönük yabancı sermaye yatırımları ise azalacaktır. Bu bakımdan makroekonomik istikrarsızlık ve belirsizlikleri azaltacak politikaların uygulanması, ekonomik canlanmayı arttıracak, ev sahibi ülkelere olan yabancı sermaye yatırımlarını ise teşvik edecektir. Yolsuzlukların ekonomik büyüme ve DYSY’ler üzerindeki etkisi ise pozitif yönlü ve anlamlı bulunmuştur. Buna göre, araştırma ülkelerinde yolsuzlukların artması ekonomik büyümenin lehine olmakta, yabancı sermaye yatırım artışlarını kolaylaştırmaktadır.

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