The Relationship Between Institutions and Economic Performance: Theoretical Framework

Çiçen, Yıldırım Beyazıt

doi:10.23834/isrjournal.363157

Cited by 3 publications

(1 citation statement)

References 31 publications

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“…The main economic objective represents government policies is usually to improve the real standard of living of the citizens. Economists use a wide group of economic indicators in order to judge whether if economic performance has improved or deteriorated (Daşbaşı et al, 2019;Çiçen, 2017). Yet, assessing a country's macro-economy performance faces many challenges, of which the most significant is the conflicting economic policy objectives (Güran and Tosun, 2005), for the economic policies have different objectives such as economic growth achievement, unemployment reduction, price stability, and payment balance.…”

Section: Introductionmentioning

confidence: 99%

Assessment of Yemen’s macroeconomy performance during 2001-2015 using Kaldor’s magic square

Özkaya¹,

Alhuwesh²

2021

Int. j. adv. appl. sci.

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Assessing a certain country’s macro-economy performance faces innumerable challenges, of which the most important ones are running counter to the objectives of economic policy. Added to these challenges is the absence of a consensus among economists regarding the identification of variables, which can be taken for granted while assessing a country’s macro-economy performance? The present study aims at assessing Yemen’s macro-economy performance during the period 2001-2015 using the four economic variables (economic growth, unemployment, inflation, and current account) that constitute Kaldor’s Magic Square chart of 1971. To avoid challenges connected with variables’ measurement, the economic welfare indicator has been used. The findings show a drastic deterioration in the level of economic welfare during the period mentioned above, with an impressive decrease in the value of economic welfare from 0.36 in 2001 to zero in 2015 as the magic square scale showed. Assessing the economic performance during the period showed that the economic performance in 2001 was better than that of 2015, with a departure of Yemen’s economic performance from the performance of the wonderland economy. Hence, Yemen’s economy can be described as an ill-performance economy, basically due to the high averages of unemployment and inflation.

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Section: Introductionmentioning

confidence: 99%

Assessment of Yemen’s macroeconomy performance during 2001-2015 using Kaldor’s magic square

Özkaya¹,

Alhuwesh²

2021

Int. j. adv. appl. sci.

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Institutional Factors and Trade Openness: MINT Countries

Çalışkan

ELMAS

2023

Fiscaoeconomia

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Ekonomik süreçlerin belirleyicisi olarak kurumsal faktörler, uluslararası ticareti de şekillendirmektedir. Ülkelerin ekonomik yaşam alışkanlıkları ve ekonomik karar alma ile bunları düzenleyen bürokratik karar alma süreçleri uluslararası ticareti tüm yönleri ile etkilemektedir. Bu bakımdan çalışmanın ana fikri kurumsal değişkenlerin uluslararası ticarette etkisinin ne olacağı üzerinedir. Kurumsal değişkenler olarak Dünya Bankası Worldwide Governance Indıcators (WGI)’dan alınan hesap verebilirlik, politik istikrar, hükümet etkinliği, düzenlemelerin kalitesi, hukukun üstünlüğü, yolsuzluğun kontrolü değişkenleri seçilmiştir. Ekonomik hayatı etkileyen bu kurumsal değişkenlerin dışa açıklık olarak ifade edilen ihracatın milli gelirdeki payı oranı ile ilişkisi MINT ülkeleri (Meksika, Endonezya, Nijerya, Türkiye) özelinde, ARDL yöntemi kullanılarak ölçülmeye çalışılmıştır. Çalışma sonucunda yönetişim göstergelerindeki iyileşmelerin (kötüleşmelerin) ihracatı olumlu (olumsuz) etkileyeceği şeklindeki hipotezimiz, elde ettiğimiz bulgulara göre doğrulanamamıştır. Sadece düzenlemelerin kalitesi değişkenine ait uzun dönem parametreleri teorik çerçeveye uygun bulunmuştur. Bu hali ile mevcut literatürün bir kısmı ile aynı sonuçlar bulgulanmıştır. Düzenlemelerin kalitesi arttığında başka bir ifade ile ekonomik müdahaleler iyileştikçe dışa açıklık artmaktadır.

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NEUROECONOMICS, BOUNDED RATIONALITY and INSTITUTIONS

Çiçen

2022

Sosyal Ve Beşeri Bilimler Dergisi

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As part of this study, we first explain the concept of limited rationality. Based on neoclassical economic assumptions, the individual is fully rational, but that is not true in practice. As part of this study, we first explain the concept of limited rationality. Then neuroeconomics and its methods are explained, which developed in the aftermath of the 1990s. This study also explores the formation of limited rationality in the real world based on the results obtained from the research in the field of neuroeconomics, along with the subjects of knowledge, risk and uncertainty, emotion, culture, and brand awareness, and intertemporal choice. In the conclusion part of the paper, the necessary institutions for reducing this limited rationality are discussed.

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The Relationship Between Institutions and Economic Performance: Theoretical Framework

Abstract: Öz

Cited by 3 publications

References 31 publications

Assessment of Yemen’s macroeconomy performance during 2001-2015 using Kaldor’s magic square

Assessment of Yemen’s macroeconomy performance during 2001-2015 using Kaldor’s magic square

Institutional Factors and Trade Openness: MINT Countries

NEUROECONOMICS, BOUNDED RATIONALITY and INSTITUTIONS

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