Democratization and Economic Growth in Emerging Market Economies
Öz
The globalization phenomenon
has gained speed in various aspects especially since mid-1980s, this process in
turn partially contributed to democratization of the many countries. This study
researches the effect of democratization on economic growth in emerging markets
over 2002-2015 period with panel cointegration test of Westerlund-Durbin-Hausman
(2008) and panel causality test of Dumitrescu and Hurlin (2012). The results revealed
a cointegrating relationship between economic growth and democratization, but
the interaction between democratization and growth varies from country to
country. However, no causality relationships were found between democratization
and economic growth in the short run.
Anahtar Kelimeler
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