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INSTITUTIONS AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES: DYNAMIC PANEL DATA ANALYSIS

Yıl 2021, Sayı: 42, 141 - 154, 08.01.2021

Muharrem Akın Doğanay Mustafa Değer

https://doi.org/10.30794/pausbed.739302
Cited By: 2

Öz

There is an increasing emphasis on the role of institutions in explaining the economic growth of DLC. However, there is no consensus on which institutions and governance indicators are essential for growth. This study aims to examine the effects of institutions on economic growth in DLC empirically.
In this study, for the 62 Developing countries are examined and analyzed by the GMM in the 2002-2017 periods. Data obtained from the World Bank. Among the institutional quality indicators, regulatory quality seems to be an essential factor. Political stability and absence of violence, on the contrary, affect economic growth negatively and significantly in DLC.
The findings of the study show that institutions are important in economic growth. Therefore, for stable and permanent growth, DLC should give priority to institutional strengthening policies.

Anahtar Kelimeler

Institutions Governance Economic growth GMM Method

Kaynakça

  • Acemoğlu, D., Johnson, S., ve Robinson, J. A. (2001). "The Colonial Origins of Comparative Development: An Empirical Investigation", American Economic Review, 91/5, 1369-1401.
  • Acemoğlu, D., Johnson, S., ve Robinson, J. A. (2002). "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution", The Quarterly Journal of Economics, 117/4, 1231-1294.
  • Acemoğlu, D. ve Johnson, S. (2005). "Unbundling Institutions", Journal of Political Economy, 113/5, 949-995.
  • Alesina, A., Hems, L. C., ve Chinnock, K. (1997). "The Political Economy of High and Low Growth", ABCDE Conference Proceedings Book, Washington DC, 217-238.
  • Alonso-Borrego, C. ve Arellano M. (1999). "Symmetrically Normalized Instrumental-variable Estimation Using Panel Data", Journal of Business & Economic Statistics, 17/1, 36-49.
  • Amsden, A. H. (1992). Asia's Next Giant: South Korea and Late Industrialization, Oxford University Press, New York.
  • Arellano, M. ve Bond, S. (1991). "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations", The Review of Economic Studies, 58/2, 277-297.
  • Arellano, M. ve Bover, O. (1995). "Another Look at the Instrumental Variable Estimation of Error-Components Models", Journal of Econometrics, 68/1, 29-51.
  • Arndt, C. ve Oman, C. (2010). Uses and Abuses of Governance Indicators, OECD Publishing, Paris.
  • Asongu, S. (2016). "Determinants of Growth in Fast Developing Countries: Evidence from Bundling and Unbundling Institutions", Politics & Policy, 44/1, 97-134.
  • Assiotis, A. ve Kevin, S. (2014). "Do the Effects of Corruption upon Growth Differ between Democracies and Autocracies?", Review of Development Economics, 18/3, 581-594.
  • Barro, R. J. (1991). Economic Growth in a Cross Section of Countries. The Quarterly Journal of Economics, 106/2, 407-443.
  • Blundell, R. ve Bond, S. (1998). "Initial Conditions and Moment Restrictions in Dynamic Panel Data Models", Journal of Econometrics, 87/1, 115-143.
  • Bond, S., Hoeffler, A., ve Temple, J. (2001). "GMM Estimation of Empirical Growth Models", CEPR Discussion Papers, No. 3048.
  • Çetin, T. (2012). “Yeni Kurumsal İktisat”, Sosyoloji Konferansları, 45, 43-73.
  • De Soto, H. (1989). The Other Path: The Invisible Revolution in the Third World, Harper and Row, New York.
  • Ftoreková, M. ve Mádr M. (2017). "The Rule of Law and Economic Growth in the Balkan States", European Journal of Business Science and Technology, 3/1, 13-20.
  • Glaeser, E. L., La Porta, R., Lopez-de-Silanes, F., ve Shleifer, A. (2004). "Do Institutions Cause Growth?", Journal of Economic Growth, 9/3, 271–303.
  • Gupta, S., Davoodi, H., ve Alonso-Terme, R. (2002). "Does Corruption Affect Income Inequality and Poverty?", Economics of Governance, 3/1, 23-45.
  • Hall, R. ve Jones, C. (1999). "Why Do Some Countries Produce So Much More Output Per Worker than Others?", The Quarterly Journal of Economics, 114/1, 83-116.
  • Hansen, L. P. (2008). "Generalized Method of Moments Estimation", in the New Palgrave Dictionary of Economics, 2428-2435, Palgrave Press, Chicago.
  • Kaufmann, D., Kraay, A., ve Mastruzzi, M. (2009). Governance Matters VIII: Governance Indicators for 1996-2008. World Bank Policy Research Unit.
  • Khan, M (2012). "Governance and Growth: History, Ideology and Methods of Proof", in Good Growth and Governance in Africa: Rethinking Development Strategies, 51-79, Oxford University Press, Oxford.
  • Knack, S. ve Keefer, P. (1995). "Institutions and Economic Performance: Cross-Country Tests Using Alternative Institutional Measures", Economics & Politics, 7/3, 207-227.
  • Mauro, P. (1995). "Corruption and Growth", The Quarterly Journal of Economics, 110/3, 681-712.
  • M. R., Hay, R., ve Myers, J. (2010). "Governance Indicators Can Make Sense: Under-five Mortality Rates are an Example", Center for International Development at Harvard University HKS Faculty Research Working Paper Series, 207.
  • Mankiw, N. G., Romer, D., ve Weil, D. N. (1992). "A Contribution to the Empirics of Economic Growth", Quarterly Journal of Economics, 107/5, 407-437.
  • North, D. ve Thomas, R. (1973). The Rise of the Western World: A New Economic History, Cambridge University Press, Cambridge.
  • North, D. (1981). Structure and Change in Economic History, Norton, New York.
  • North, D. (1990). Institutions, Institutional Change, and Economic Performance, Cambridge University Press, Cambridge.
  • Olson, M. (1982). The Rise and Decline of Nations: Economic Growth, Stagflation, and Social Rigidities, Yale University Press, Connecticut.
  • Rodriguez, F. ve Rodrik, D. (2000). "Trade Policy and Economic Growth: a Skeptic's Guide to the Cross-National Evidence", NBER Macroeconomics Annual, 15, 261-325.
  • Rodrik, D. ve Subramanian, A. (2009). "Why Did Financial Globalization Disappoint?", IMF Staff Papers, 56/1, 112-138.
  • Sachs, J. (2003). "Institutions Don't Rule: Direct Effects of Geography on Per Capita Income", National Bureau of Economic Research, No. w949.
  • Samuels, W. (2018). "Institutional Economics", in Jones, G. (Ed.), The New Palgrave Dictionary of Economics, Palgrave Macmillan, New York.
  • Sargan, John D. (1958). "The Estimation of Economic Relationships Using Instrumental Variables", Econometrica: Journal of the Econometric Society, 26, 393-415.
  • Sekkat, K. (2018). Is Corruption Curable?, Springer, New York.
  • Williamson, O. (1975). Markets and Hierarchies: Analysis and Antitrust Implications, The Free Press, New York.
  • Williamson, O. (1979). "Transaction Cost Economics: The Governance of Contractual Relations", Journal of Law and Economics, 22/2, 233–261.
  • Williamson, O. (1985). The Economic Institutions of Capitalism, The Free Press, New York.
  • Zhuang, J., de Dios, E., ve Martin, A. L (2010). "Governance and Institutional Quality and the Links with Economic Growth and Income Inequality: With Special Reference to Developing Asia", Asian Development Bank Economics Working Paper Series, 193.

GELİŞMEKTE OLAN ÜLKELERDE KURUMLAR VE EKONOMİK BÜYÜME: DİNAMİK PANEL VERİ ANALİZİ

Yıl 2021, Sayı: 42, 141 - 154, 08.01.2021

Muharrem Akın Doğanay Mustafa Değer

https://doi.org/10.30794/pausbed.739302
Cited By: 2

Öz

GOÜ'lerin ekonomik büyümesini açıklamada kurumların rolüne giderek daha fazla önem verilmektedir. Ancak, hangi kurumların ve yönetişim göstergelerinin daha önemli olduğu konusunda bir fikir birliği yoktur. Bu çalışmanın amacı GOÜ'lerde kurumların ekonomik büyüme üzerindeki etkilerini ampirik olarak incelemektir.
Bu çalışmada, Dünya Bankası'ndan 62 GOÜ için elde edilen veriler 2002-2017 döneminde incelenmiş ve GMM yöntemi ile analiz edilmiştir. Kurumsal kalite göstergeleri arasında idari kalite en önemli faktör olarak görünmektedir. Siyasi istikrar ve şiddetsizlik, aksine, GOÜ'lerde ekonomik büyümeyi olumsuz ve önemli ölçüde etkilemektedir.
Çalışmanın bulguları kurumların ekonomik büyümede önemli olduğunu göstermektedir. Bu nedenle, istikrarlı ve kalıcı bir büyüme için GOÜ, kurumsal yapıyı güçlendirme politikalarına öncelik vermelidir.

Anahtar Kelimeler

Kurumlar Yönetişim Ekonomik büyüme GMM Yöntemi

Kaynakça

  • Acemoğlu, D., Johnson, S., ve Robinson, J. A. (2001). "The Colonial Origins of Comparative Development: An Empirical Investigation", American Economic Review, 91/5, 1369-1401.
  • Acemoğlu, D., Johnson, S., ve Robinson, J. A. (2002). "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution", The Quarterly Journal of Economics, 117/4, 1231-1294.
  • Acemoğlu, D. ve Johnson, S. (2005). "Unbundling Institutions", Journal of Political Economy, 113/5, 949-995.
  • Alesina, A., Hems, L. C., ve Chinnock, K. (1997). "The Political Economy of High and Low Growth", ABCDE Conference Proceedings Book, Washington DC, 217-238.
  • Alonso-Borrego, C. ve Arellano M. (1999). "Symmetrically Normalized Instrumental-variable Estimation Using Panel Data", Journal of Business & Economic Statistics, 17/1, 36-49.
  • Amsden, A. H. (1992). Asia's Next Giant: South Korea and Late Industrialization, Oxford University Press, New York.
  • Arellano, M. ve Bond, S. (1991). "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations", The Review of Economic Studies, 58/2, 277-297.
  • Arellano, M. ve Bover, O. (1995). "Another Look at the Instrumental Variable Estimation of Error-Components Models", Journal of Econometrics, 68/1, 29-51.
  • Arndt, C. ve Oman, C. (2010). Uses and Abuses of Governance Indicators, OECD Publishing, Paris.
  • Asongu, S. (2016). "Determinants of Growth in Fast Developing Countries: Evidence from Bundling and Unbundling Institutions", Politics & Policy, 44/1, 97-134.
  • Assiotis, A. ve Kevin, S. (2014). "Do the Effects of Corruption upon Growth Differ between Democracies and Autocracies?", Review of Development Economics, 18/3, 581-594.
  • Barro, R. J. (1991). Economic Growth in a Cross Section of Countries. The Quarterly Journal of Economics, 106/2, 407-443.
  • Blundell, R. ve Bond, S. (1998). "Initial Conditions and Moment Restrictions in Dynamic Panel Data Models", Journal of Econometrics, 87/1, 115-143.
  • Bond, S., Hoeffler, A., ve Temple, J. (2001). "GMM Estimation of Empirical Growth Models", CEPR Discussion Papers, No. 3048.
  • Çetin, T. (2012). “Yeni Kurumsal İktisat”, Sosyoloji Konferansları, 45, 43-73.
  • De Soto, H. (1989). The Other Path: The Invisible Revolution in the Third World, Harper and Row, New York.
  • Ftoreková, M. ve Mádr M. (2017). "The Rule of Law and Economic Growth in the Balkan States", European Journal of Business Science and Technology, 3/1, 13-20.
  • Glaeser, E. L., La Porta, R., Lopez-de-Silanes, F., ve Shleifer, A. (2004). "Do Institutions Cause Growth?", Journal of Economic Growth, 9/3, 271–303.
  • Gupta, S., Davoodi, H., ve Alonso-Terme, R. (2002). "Does Corruption Affect Income Inequality and Poverty?", Economics of Governance, 3/1, 23-45.
  • Hall, R. ve Jones, C. (1999). "Why Do Some Countries Produce So Much More Output Per Worker than Others?", The Quarterly Journal of Economics, 114/1, 83-116.
  • Hansen, L. P. (2008). "Generalized Method of Moments Estimation", in the New Palgrave Dictionary of Economics, 2428-2435, Palgrave Press, Chicago.
  • Kaufmann, D., Kraay, A., ve Mastruzzi, M. (2009). Governance Matters VIII: Governance Indicators for 1996-2008. World Bank Policy Research Unit.
  • Khan, M (2012). "Governance and Growth: History, Ideology and Methods of Proof", in Good Growth and Governance in Africa: Rethinking Development Strategies, 51-79, Oxford University Press, Oxford.
  • Knack, S. ve Keefer, P. (1995). "Institutions and Economic Performance: Cross-Country Tests Using Alternative Institutional Measures", Economics & Politics, 7/3, 207-227.
  • Mauro, P. (1995). "Corruption and Growth", The Quarterly Journal of Economics, 110/3, 681-712.
  • M. R., Hay, R., ve Myers, J. (2010). "Governance Indicators Can Make Sense: Under-five Mortality Rates are an Example", Center for International Development at Harvard University HKS Faculty Research Working Paper Series, 207.
  • Mankiw, N. G., Romer, D., ve Weil, D. N. (1992). "A Contribution to the Empirics of Economic Growth", Quarterly Journal of Economics, 107/5, 407-437.
  • North, D. ve Thomas, R. (1973). The Rise of the Western World: A New Economic History, Cambridge University Press, Cambridge.
  • North, D. (1981). Structure and Change in Economic History, Norton, New York.
  • North, D. (1990). Institutions, Institutional Change, and Economic Performance, Cambridge University Press, Cambridge.
  • Olson, M. (1982). The Rise and Decline of Nations: Economic Growth, Stagflation, and Social Rigidities, Yale University Press, Connecticut.
  • Rodriguez, F. ve Rodrik, D. (2000). "Trade Policy and Economic Growth: a Skeptic's Guide to the Cross-National Evidence", NBER Macroeconomics Annual, 15, 261-325.
  • Rodrik, D. ve Subramanian, A. (2009). "Why Did Financial Globalization Disappoint?", IMF Staff Papers, 56/1, 112-138.
  • Sachs, J. (2003). "Institutions Don't Rule: Direct Effects of Geography on Per Capita Income", National Bureau of Economic Research, No. w949.
  • Samuels, W. (2018). "Institutional Economics", in Jones, G. (Ed.), The New Palgrave Dictionary of Economics, Palgrave Macmillan, New York.
  • Sargan, John D. (1958). "The Estimation of Economic Relationships Using Instrumental Variables", Econometrica: Journal of the Econometric Society, 26, 393-415.
  • Sekkat, K. (2018). Is Corruption Curable?, Springer, New York.
  • Williamson, O. (1975). Markets and Hierarchies: Analysis and Antitrust Implications, The Free Press, New York.
  • Williamson, O. (1979). "Transaction Cost Economics: The Governance of Contractual Relations", Journal of Law and Economics, 22/2, 233–261.
  • Williamson, O. (1985). The Economic Institutions of Capitalism, The Free Press, New York.
  • Zhuang, J., de Dios, E., ve Martin, A. L (2010). "Governance and Institutional Quality and the Links with Economic Growth and Income Inequality: With Special Reference to Developing Asia", Asian Development Bank Economics Working Paper Series, 193.
Toplam 41 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Ekonomi
Bölüm Makaleler
Yazarlar

Muharrem Akın Doğanay 0000-0002-3985-2222

Mustafa Değer 0000-0001-6425-9052

Yayımlanma Tarihi 8 Ocak 2021
Kabul Tarihi 20 Haziran 2020
Yayımlandığı Sayı Yıl 2021 Sayı: 42

Kaynak Göster

APA Doğanay, M. A., & Değer, M. (2021). INSTITUTIONS AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES: DYNAMIC PANEL DATA ANALYSIS. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi(42), 141-154. https://doi.org/10.30794/pausbed.739302
AMA Doğanay MA, Değer M. INSTITUTIONS AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES: DYNAMIC PANEL DATA ANALYSIS. PAUSBED. Ocak 2021;(42):141-154. doi:10.30794/pausbed.739302
Chicago Doğanay, Muharrem Akın, ve Mustafa Değer. “INSTITUTIONS AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES: DYNAMIC PANEL DATA ANALYSIS”. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, sy. 42 (Ocak 2021): 141-54. https://doi.org/10.30794/pausbed.739302.
EndNote Doğanay MA, Değer M (01 Ocak 2021) INSTITUTIONS AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES: DYNAMIC PANEL DATA ANALYSIS. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi 42 141–154.
IEEE M. A. Doğanay ve M. Değer, “INSTITUTIONS AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES: DYNAMIC PANEL DATA ANALYSIS”, PAUSBED, sy. 42, ss. 141–154, Ocak 2021, doi: 10.30794/pausbed.739302.
ISNAD Doğanay, Muharrem Akın - Değer, Mustafa. “INSTITUTIONS AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES: DYNAMIC PANEL DATA ANALYSIS”. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi 42 (Ocak 2021), 141-154. https://doi.org/10.30794/pausbed.739302.
JAMA Doğanay MA, Değer M. INSTITUTIONS AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES: DYNAMIC PANEL DATA ANALYSIS. PAUSBED. 2021;:141–154.
MLA Doğanay, Muharrem Akın ve Mustafa Değer. “INSTITUTIONS AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES: DYNAMIC PANEL DATA ANALYSIS”. Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, sy. 42, 2021, ss. 141-54, doi:10.30794/pausbed.739302.
Vancouver Doğanay MA, Değer M. INSTITUTIONS AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES: DYNAMIC PANEL DATA ANALYSIS. PAUSBED. 2021(42):141-54.

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