Demokrasi, Ekonomik Özgürlükler ve Ekonomik Büyüme: Kurumların Rolü Üzerine Bir Araştırma

Abstract

The main purpose of this paper is to investigate the impact of the institutional quality on economic growth in high, medium and low-income countries in the period of 1995-2013. In this study, institutional quality is represented as a component of democracy and economic freedoms. The institutional quality index for each country is calculated by the principal component analysis (PCA) method using democracy and economic freedoms indicators. Then, the relationship between the institutional quality index and economic growth is estimated by panel data analysis method (panel unit root, panel cointegration, panel causality analysis). The estimation results for all groups of countries are as follows: (i) the panel cointegration test confirms a long-run equilibrium relationship between institution quality and economic growth. (ii) According to this relationship, institutional quality has a positive effect on economic growth. (iii) The panel causality tests support a bidirectional causality between institution quality and economic growth. The results of the analysis indicate that institutions are a significant influence on economic growth.

The effect of freedom on international tourism demand: Empirical evidence from the top eight most visited countries

“…On the one hand, a destination’s strong institutions and quality of governance point to a high level of security for that country. In which case, people feel more secure in the country (Tang, 2018), where incivilities can be more effectively resolved through legal mechanisms (Koçak and Uzay, 2018). Hence, the security of destinations may underlie international tourist arrivals (Ghaderi et al, 2017).…”

Ülkeleri̇n Geli̇şmi̇şli̇k Farkliliklari Özgürlük Yapisi İle Açiklanabi̇li̇r Mi̇?

“…In terms of underdeveloped countries, no relationship was found between the variables in the long run. Koçak (2016) investigated the relationship between democracy, economic freedom and economic growth using panel data method (panel unit root, panel cointegration, panel causality) using the 1995-2013 data of 39 high, high-middle, low-middle and low-income countries. In addition to a long-run equilibrium relationship between institutions and economic growth, it was found that the qualities of institutions have a positive effect on economic growth.…”