THE MACROECONOMIC DETERMINANTS OF POLITICAL STABILITY IN POST-SOVIET COUNTRIES MOVED FROM CENTRALLY PLANNED ECONOMY TO FREE MARKET ECONOMY
Öz
The successful integration of the post-Soviet countries to European Union and to other market economies via economic and political transition has been a substantial issue for international economic and political relations. Amid all the structural changes it has been of significant importance for the policy makers to set forth the macroeconomic determinants of the political stability in transition economies moved from centrally planned economy through market economy. In this study the macroeconomic determinants of the political stability within the transition economies between 2002-2015 have been investigated by utilizing the panel data method. Depending on the empirical analysis, it has been concluded that GDP per capita and consumer price index are the most important macroeconomic factors affecting the political stability in the short-term.
Anahtar Kelimeler
References
- Aisen, A., & Veiga, F. J. (2013). How does political instability affect economic growth?. European Journal of Political Economy, 29, 151-167.
- Alesina, A. (1987). Macroeconomic policy in a two-party system as a repeated game. The Quarterly Journal of Economics, 102(3), 651-678.
- Alesina, A., & Perotti, R. (1996). Income distribution, political instability, and investment. European economic review, 40(6), 1203-1228.
- Al-Mulali, U., Ozturk, I., (2015) "The effect of energy consumption, urbanization, trade openness, industrial output, and the political stability on the environmental degradation in the MENA (Middle East and North African) region." Energy 84, 382-89.
- Angelo, A., Gruner, H., (2000), "A Model of Stability and Persistence in a Democracy." Games and Economic Behavior 33 (2000): 20-40.
- Arriola, L. R. (2009). Patronage and political stability in Africa. Comparative Political Studies, 42(10), 1339-1362.
- Brada, J. C., Kutan, A. M., & Yigit, T. M. (2006). The effects of transition and political instability on foreign direct investment inflows. Economics of Transition, 14(4), 649-680.
- Breusch, T., Pagan, A., 1980. The Lagrange multiplier test and its application to model specification in econometrics. Rev. Econ. Stud. 47, 239–253.
Details
Primary Language
Turkish
Subjects
-
Journal Section
Research Article
Authors
İzzet Taşar
Türkiye
Publication Date
May 31, 2018
Submission Date
December 26, 2017
Acceptance Date
May 28, 2018
Published in Issue
Year 2018 Volume: 19 Number: 1