The Role of Democracy and Economic Freedom in Economic Growth: Evidence from Developed and Developing Countries

Yıl 2025, Cilt: 33 Sayı: 65, 273 - 293, 17.07.2025

Bahadır Murat Çakmaklı

https://doi.org/10.17233/sosyoekonomi.2025.03.13

Öz

Economic growth has been included in the literature as a historical concept that countries have endeavoured to achieve. To date, economic growth has been analysed using a variety of variables. In our study, the economic growth of seven developed countries and eleven developing countries, as well as military expenditures, democracy, economic freedom, foreign direct investment, and unemployment, were analysed using the Panel EGLS model. As a result of the analysis, it was found that economic freedom has a negative and insignificant effect, while democracy and unemployment have an adverse and significant impact. Additionally, military expenditures and Foreign Direct Investments (FDI) have a positive and significant impact on economic growth.

Anahtar Kelimeler

Economic Growth , Democracy , Economic Freedom , Military Expenditures , Unemployment , Foreign Direct Investment

Ekonomik Büyümede Demokrasi ve Ekonomik Özgürlüklerin Rolü: Gelişmiş ve Gelişmekte Olan Ülkelerden Kanıtlar

Öz

Ekonomik büyüme, ülkelerin ulaşmaya çalıştığı tarihsel bir kavram olarak literatüre girmiştir. Bugüne kadar ekonomik büyüme birçok farklı değişkenle analiz edilmiştir. Çalışmamızda, yedi gelişmiş ülke ve on bir gelişmekte olan ülkenin ekonomik büyümesi, askeri harcamalar, demokrasi, ekonomik özgürlük, doğrudan yabancı yatırım ve işsizlik değişkenleri Panel EGLS modeli ile analiz edilmiştir. Analiz sonucunda, ekonomik özgürlüğün olumsuz ve önemsiz bir etkisi olduğu, demokrasi ve işsizliğin ise olumsuz ve önemli etkileri olduğu bulunmuştur. Ayrıca, askeri harcamalar ve Doğrudan Yabancı Yatırımların (DYY) ekonomik büyüme üzerinde olumlu ve önemli etkileri olduğu görülmüştür.

Anahtar Kelimeler

Ekonomik Büyüme , Demokrasi , Ekonomik Özgürlük , Askeri Harcamalar , İşsizlik , Doğrudan Yabancı Yatırım

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