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YÖNETİŞİM GÖSTERGELERİ VE BÜYÜME: GELİŞMİŞ VE GELİŞMEKTE OLAN G20 ÜLKELERİ İÇİN BİR NEDENSELLİK ANALİZİ / Governance Indicators and Growth: A Causality Analysis for Developed and Developing G20 Countries

Yıl 2021, Cilt: 5 Sayı: 1, 113 - 135, 30.04.2021
https://doi.org/10.29216/ueip.878932

Öz

Ekonomik büyüme ve yönetişim göstergeleri arasındaki ilişkinin ve yönünün belirlenmesi, ülkelerin uygulayacakları ekonomi politikalarını şekillendiren önemli unsurlardır. Bu çalışmada 9 gelişmiş ve 9’u gelişmekte olan ülke olmak üzere toplamda 18 G20 ülkesinin 2002-2018 dönemi dikkate alınarak ekonomik büyüme ve yönetişim göstergeleri arasındaki ilişki Emirmahmutoğlu ve Köse (2011) nedensellik testi ile analiz edilmiştir. Çalışmadan elde edilen sonuçlara göre gelişmiş ülkelerde, büyüme ile yönetişim göstergelerinden ifade özgürlüğü, hükümetin etkinliği ve düzenleyici kalite açısından nedensellik ilişkisi tespit edilmiştir. Gelişmekte olan ülkelerde ise büyüme ve yönetişim göstergeleri arasında, panelin tümü için bir nedensellik ilişkisi olmadığı ortaya çıkmıştır. Ayrıca ülkelerin bireysel ayrıntılarına bakıldığında, ekonomik büyüme ile yönetişim göstergeleri arasında nedensellik ilişkisi olduğu görülmektedir.

Kaynakça

  • Acemoğlu, D. ve Robinson, J. (2008). The Role of Institutions in Growth and Development. World Bank Working Paper No.10.
  • Acemoğlu, D. ve Robinson, J. (2010). The Role of Institutions in Growth and Development. Review of Economics and Institutions, 1 (2), 1-33.
  • Acemoğlu, D., Johnson, S., Robinson, J. ve Thaicharoen, Y. (2003). Institutional Causes, Macroeconomic Symptoms: Volatility, Crises and Growth. National Bureau of Economic Research. Working Paper 9124.
  • Alonso, J. A. (2010). Colonisation, Institutions and Development: New Evidence. Journal of Development Studies, 47 (7), 937 – 958.
  • Amorim, G. ve Da Silva, M. E. (2016). Governance and Growth: A Panel VAR Approach. Erişim adresi: https://www.anpec.org.br/encontro/2016/submissao/files_I/i6-b664b335dcf00c41e5f5adbbd539cbd1.pdf
  • Aysan, Ö. F. (2020). Yönetişim ve Kurumlar Kavramlarının Yükselişi. C. C. Aktan (Ed.), Kurumsal İktisat, Kurallar ve Kurumların İktisadi Gelişme Açısından Önemi (s.23-47) içinde. İzmir: SOBİAD Hukuk ve İktisat Araştırmaları Yayınları.
  • Bađun, M. (2005). The Quality of Governance and Economic Growth in Croatia. Financial Theory and Practice, 29 (4), 279-308.
  • Binay, M. ve Atalay, N. (2019). Global Governance: Economic Growth and Income Distribution. Sayıştay Dergisi, 112, 137-158.
  • Bouoiyour, J. ve Naimbayel, D. (2012). Economic Growth in Sub-Saharan Africa: is Governance a Source of İnequality Between Countries? In A Paper Presented at the 17th Annual Conference of the African Econometric Society. Erişim adresi: https://www.researchgate.net/publication/266414447_Economic_growth_in_Sub-Saharan_Africa_is_governance_a_source_of_inequality_between_countries
  • Cooray, A. (2009). Government Expenditure, Governance and Economic Growth. Comparative Economic Studies, 51 (3), 401-418.
  • Çetin, A. B. (2019), İktisadi ve Politik Kurumların Ekonomik Büyüme Üzerindeki Etkisi: Gelişmiş Ülkeler ve Yükselen Piyasa Ekonomileri Karşılaştırması. Bulletin of Economic Theory and Analysis, 4 (2), 1-31.
  • Doğanay, M. ve Değer, M. (2020). Kurumlar ve Ekonomik Büyüme: Panel Veri Analizi (2002-2018). Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi, 10 (19), 75-99.
  • Dura, Y. C., Yenilmez, F. ve Meçik, O. (2020), An Evaluation of The Explanatory Power of Indicators of Institutional Structure on Economic Growth: A Comparative Analysis, Eurasian Academy of Sciences Eurasian Econometrics. Statistics & Empirical Economics Journal, 15 (1), 1-16.
  • Emara, N. ve Jhonsa, E. (2014). Governance and Economic Growth: The Case of Middle East and North African Countries. Journal of Development and Economic Policies, 16 (1), 47-71.
  • Evans, P. ve Rauch, J. E. (1999). Bureaucracy and Growth: A Cross-National Analysis of the Effects of "Weberian" State Structures on Economic Growth. American Sociological Review, 64 (5), 748-765.
  • Fayissa, B. ve Nsiah, C. (2013). The Impact of Governance on Economic Growth in Africa. Journal of Developing Areas, 47 (1), 91-108.
  • Figankaplan, T. (2017). Ekonomik Büyüme ve Kurumsal Kalite İlişkisi: Bir Panel Veri Analizi. BDDK Bankacılık ve Finansal Piyasalar, 11 (1), 65-91.
  • Gani, A. (2011). Governance and Growth in Developing Countries. Journal of Economic Issues, 45 (1), 19-40.
  • Góes, C. (2016). Institutions and Growth: A GMM/IV Panel VAR Approach. Economics Letters, 138, 85–91.
  • Grossman, G. ve Helpman, E. (1994). Foreign Investment with Endogenous Protection. National Bureau of Economic Research, Cambridge Working Paper No. 4876.
  • Hall, R. ve Jones, C. (1998). Why Do Some Countries Produce So Much More Output Per Worker Than Others?. The Quarterly Journal of Economics. 114 (1), 83-116.
  • Huynh, K. P. ve Jacho-Chávez, D. T. (2009). Growth and Governance: A-nonparametric Analysis. Journal of Comparative Economics, 37 (1), 121–143.
  • Kaufmann, D. ve Aart, K. (2002). Growth Without Governance. Economia. Fall 2002. Erişim adresi: http://www.worldbank.org/wbi/governance/pdf/growthgov.pdf.
  • Kaufmann, D., Kraay, A. ve Mastruzzi, M. (2010). The Worldwide Governance Indicators Methodology and Analytical Issues. Policy Research Working Paper, 5430, 1-29
  • Kaufmann, D., Kraay, A. ve Zoido-Lobatón, P. (2002). Governance Matters II: Updated İndicators for 2000-01 (Vol. 2772). World Bank Publications, 1-103. Erişim adresi: http://info.worldbank.org/governance/wgi/
  • Knack, S. ve Keefer, P. (1995). Institutions and Economic Performance: Cross- Country Tests Using Alternative Institutional Indicators. World Bank Working Paper. November 1995.
  • Knack, S. ve Keefer, P. (1998). Why Don’t Poor Countries Catch Up? A Cross- National Test of An Institutional Explanation. Center for Institutional Reform and The Informal Sector. 590-602.
  • Kostić, V., Ljajić, S., Cvetanović, S. ve Nedić, V. (2019). Quality of Institution and Economic Growth of the Countries of the European Union and Western Balkans. Facta Unıversıtatıs Series: Economics and Organization, 16 (2), 117-127.
  • Levent, A. (2016). Yönetişim ve Yeni Kurumsal İktisat. İktisat Politikası Araştırmaları Dergisi, 3 (2), 17-32.
  • Méndez-Picazo, M.T., Galindo-Martín, M.Á. ve Ribeiro-Soriano, D. (2012). Governance, Entrepreneurship and Economic Growth. Entrepreneurship & Regional Development, 24 (9-10), 865–877.
  • Mıra, R. ve Hammadache, A. (2017). Good Governance and Economic Growth: A Contribution to the Institutional Debate About State Failure in Middle East and North Africa. Asian Journal of Middle Eastern and Islamic Studies, 11 (3), 107-120.
  • Mohammad, H., Mohammadi, M. ve Tirgari-Seraji, M. (2018). Investigating Factors Affecting on Per Capita GDP Growth in Different Groups of Countries with Emphasis on Governance Indicators. Journal of Economic Modeling Research, 8 (30), 109-145.
  • Nawaz, S., Iqbal, N. ve Khan, M. A. (2014). The Impact of Institutional Quality on Economic Growth: Panel Evidence. The Pakistan Development Review, 53 (1), 15–31.
  • Noha, E. ve I-Ming, C. (2015). The Impact of Governance on Economic Growth: The case of Middle Eastern and North African Countries, MPRA Paper No. 68603, 1-20. Erişim adresi: https://mpra.ub.uni muenchen.de/68603/
  • North, D. C. (1991). Institutions. Journal of Economic Perspectives, 5 (1), 97–112, https://doi.org/10.1257/jep.5.1.97
  • North, D., Acemoğlu D., Fukuyama, F. ve Rodrik, D., (2008). Governance, Growth, and Development Decision Making. The International Bank for Reconstruction and Development / The World Bank, Washington.
  • Orayo, J. A. ve Mose, G. N. (2016). A Comparative Study on Contribution of Governance on Economic Growth Countries in the East African Community. International Journal of Regional Development, 3 (2), 89-106.
  • Rhodes, R. A. W. (1996). The New Governance: Governing Without Government. Political Studies, 44 (4), 652-667.
  • Rodrik, D., Subramanian, A. ve Trebbi, F. (2004). Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development. Journal of Economic Growth. 9 (2), 131–165.
  • Seldadyo, H., Nugroho, E. P. ve De Haan, J. (2007). Governance and Growth Revisited. Kyklos, 60 (2), 279–290.
  • Setayesh, M. H. ve Daryaei, A. A. (2017). Good Governance, İnnovation, Economic Growth and the Stock Market Turnover Rate. The Journal of International Trade & Economic Development. doi: 10.1080/09638199.2017.1334809
  • Stoker, G. (1998). Governance as Theory: Five Propositions. International Social Science Journal, 50 (155), 17-28.
  • Şahin, D. (2018). MENA Ülkelerinde Kurumsal Kalite ve Ekonomik Büyüme İlişkisinin Analizi. İktisadi Yenilik Dergisi, 5 (1), 1-9.
  • Ünlükaplan, İ., Arısoy, İ. ve Canıkalp, E. (2018). Yönetişim Kalitesi ve İktisadi Büyüme: Türkiye Ekonomisi İçin Bir Ampirik Analiz. International Journal of Economic and Administrative Studies, (Prof. Dr. Harun Terzi Özel Sayısı), 487-508.
  • Yamak, T. (2017). Kurumsal Kalite Faktörlerinin Ekonomik Büyüme Üzerindeki Etkisi: Körfez Ülkeleri Örneği. Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi, 5 (4), 63-79.
  • Yapraklı, S. (2008). Kurumsal Yapının Ekonomik Büyümeye Etkisi: Üst Orta Gelir Düzeyindeki Ülkeler Üzerine Bir Uygulama. Ege Akademik Bakış, 8 (1), 301-317.
  • Zubair, S. S. ve Khan, M. A. (2014). Good Governance: Pakistan’s Economic Growth and Worldwide Governance Indicators. Pakistan Journal of Commerce and Social Sciences, 8 (1), 258-271.

GOVERNANCE INDICATORS AND GROWTH: A CAUSALİTY ANALYSIS FOR DEVELOPED AND DEVELOPING G20 COUNTRIES / Yönetişim Göstergeleri Ve Büyüme: Gelişmiş Ve Gelişmekte Olan G20 Ülkeleri İçin Bir Nedensellik Analizi

Yıl 2021, Cilt: 5 Sayı: 1, 113 - 135, 30.04.2021
https://doi.org/10.29216/ueip.878932

Öz

Determining the relationship and direction between economic growth and governance indicators are important factors that shape the economic policies that countries will implement. In this study, the relationship between economic growth and governance indicators of a total of 18 G20 countries, 9 developed and 9 developing countries, was analyzed with the causality test of Emirmahmutoğlu and Köse (2011). According to the results obtained from the study, the causality relationship between growth and governance indicators in terms of freedom of expression, government effectiveness and regulatory quality has been determined in developed countries. In developing countries, it has emerged that there is no causality relationship between growth and governance indicators for the entire panel. In addition, when examining the individual details of countries, it is seen that there is a causality relationship between economic growth and governance indicators.

Kaynakça

  • Acemoğlu, D. ve Robinson, J. (2008). The Role of Institutions in Growth and Development. World Bank Working Paper No.10.
  • Acemoğlu, D. ve Robinson, J. (2010). The Role of Institutions in Growth and Development. Review of Economics and Institutions, 1 (2), 1-33.
  • Acemoğlu, D., Johnson, S., Robinson, J. ve Thaicharoen, Y. (2003). Institutional Causes, Macroeconomic Symptoms: Volatility, Crises and Growth. National Bureau of Economic Research. Working Paper 9124.
  • Alonso, J. A. (2010). Colonisation, Institutions and Development: New Evidence. Journal of Development Studies, 47 (7), 937 – 958.
  • Amorim, G. ve Da Silva, M. E. (2016). Governance and Growth: A Panel VAR Approach. Erişim adresi: https://www.anpec.org.br/encontro/2016/submissao/files_I/i6-b664b335dcf00c41e5f5adbbd539cbd1.pdf
  • Aysan, Ö. F. (2020). Yönetişim ve Kurumlar Kavramlarının Yükselişi. C. C. Aktan (Ed.), Kurumsal İktisat, Kurallar ve Kurumların İktisadi Gelişme Açısından Önemi (s.23-47) içinde. İzmir: SOBİAD Hukuk ve İktisat Araştırmaları Yayınları.
  • Bađun, M. (2005). The Quality of Governance and Economic Growth in Croatia. Financial Theory and Practice, 29 (4), 279-308.
  • Binay, M. ve Atalay, N. (2019). Global Governance: Economic Growth and Income Distribution. Sayıştay Dergisi, 112, 137-158.
  • Bouoiyour, J. ve Naimbayel, D. (2012). Economic Growth in Sub-Saharan Africa: is Governance a Source of İnequality Between Countries? In A Paper Presented at the 17th Annual Conference of the African Econometric Society. Erişim adresi: https://www.researchgate.net/publication/266414447_Economic_growth_in_Sub-Saharan_Africa_is_governance_a_source_of_inequality_between_countries
  • Cooray, A. (2009). Government Expenditure, Governance and Economic Growth. Comparative Economic Studies, 51 (3), 401-418.
  • Çetin, A. B. (2019), İktisadi ve Politik Kurumların Ekonomik Büyüme Üzerindeki Etkisi: Gelişmiş Ülkeler ve Yükselen Piyasa Ekonomileri Karşılaştırması. Bulletin of Economic Theory and Analysis, 4 (2), 1-31.
  • Doğanay, M. ve Değer, M. (2020). Kurumlar ve Ekonomik Büyüme: Panel Veri Analizi (2002-2018). Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi, 10 (19), 75-99.
  • Dura, Y. C., Yenilmez, F. ve Meçik, O. (2020), An Evaluation of The Explanatory Power of Indicators of Institutional Structure on Economic Growth: A Comparative Analysis, Eurasian Academy of Sciences Eurasian Econometrics. Statistics & Empirical Economics Journal, 15 (1), 1-16.
  • Emara, N. ve Jhonsa, E. (2014). Governance and Economic Growth: The Case of Middle East and North African Countries. Journal of Development and Economic Policies, 16 (1), 47-71.
  • Evans, P. ve Rauch, J. E. (1999). Bureaucracy and Growth: A Cross-National Analysis of the Effects of "Weberian" State Structures on Economic Growth. American Sociological Review, 64 (5), 748-765.
  • Fayissa, B. ve Nsiah, C. (2013). The Impact of Governance on Economic Growth in Africa. Journal of Developing Areas, 47 (1), 91-108.
  • Figankaplan, T. (2017). Ekonomik Büyüme ve Kurumsal Kalite İlişkisi: Bir Panel Veri Analizi. BDDK Bankacılık ve Finansal Piyasalar, 11 (1), 65-91.
  • Gani, A. (2011). Governance and Growth in Developing Countries. Journal of Economic Issues, 45 (1), 19-40.
  • Góes, C. (2016). Institutions and Growth: A GMM/IV Panel VAR Approach. Economics Letters, 138, 85–91.
  • Grossman, G. ve Helpman, E. (1994). Foreign Investment with Endogenous Protection. National Bureau of Economic Research, Cambridge Working Paper No. 4876.
  • Hall, R. ve Jones, C. (1998). Why Do Some Countries Produce So Much More Output Per Worker Than Others?. The Quarterly Journal of Economics. 114 (1), 83-116.
  • Huynh, K. P. ve Jacho-Chávez, D. T. (2009). Growth and Governance: A-nonparametric Analysis. Journal of Comparative Economics, 37 (1), 121–143.
  • Kaufmann, D. ve Aart, K. (2002). Growth Without Governance. Economia. Fall 2002. Erişim adresi: http://www.worldbank.org/wbi/governance/pdf/growthgov.pdf.
  • Kaufmann, D., Kraay, A. ve Mastruzzi, M. (2010). The Worldwide Governance Indicators Methodology and Analytical Issues. Policy Research Working Paper, 5430, 1-29
  • Kaufmann, D., Kraay, A. ve Zoido-Lobatón, P. (2002). Governance Matters II: Updated İndicators for 2000-01 (Vol. 2772). World Bank Publications, 1-103. Erişim adresi: http://info.worldbank.org/governance/wgi/
  • Knack, S. ve Keefer, P. (1995). Institutions and Economic Performance: Cross- Country Tests Using Alternative Institutional Indicators. World Bank Working Paper. November 1995.
  • Knack, S. ve Keefer, P. (1998). Why Don’t Poor Countries Catch Up? A Cross- National Test of An Institutional Explanation. Center for Institutional Reform and The Informal Sector. 590-602.
  • Kostić, V., Ljajić, S., Cvetanović, S. ve Nedić, V. (2019). Quality of Institution and Economic Growth of the Countries of the European Union and Western Balkans. Facta Unıversıtatıs Series: Economics and Organization, 16 (2), 117-127.
  • Levent, A. (2016). Yönetişim ve Yeni Kurumsal İktisat. İktisat Politikası Araştırmaları Dergisi, 3 (2), 17-32.
  • Méndez-Picazo, M.T., Galindo-Martín, M.Á. ve Ribeiro-Soriano, D. (2012). Governance, Entrepreneurship and Economic Growth. Entrepreneurship & Regional Development, 24 (9-10), 865–877.
  • Mıra, R. ve Hammadache, A. (2017). Good Governance and Economic Growth: A Contribution to the Institutional Debate About State Failure in Middle East and North Africa. Asian Journal of Middle Eastern and Islamic Studies, 11 (3), 107-120.
  • Mohammad, H., Mohammadi, M. ve Tirgari-Seraji, M. (2018). Investigating Factors Affecting on Per Capita GDP Growth in Different Groups of Countries with Emphasis on Governance Indicators. Journal of Economic Modeling Research, 8 (30), 109-145.
  • Nawaz, S., Iqbal, N. ve Khan, M. A. (2014). The Impact of Institutional Quality on Economic Growth: Panel Evidence. The Pakistan Development Review, 53 (1), 15–31.
  • Noha, E. ve I-Ming, C. (2015). The Impact of Governance on Economic Growth: The case of Middle Eastern and North African Countries, MPRA Paper No. 68603, 1-20. Erişim adresi: https://mpra.ub.uni muenchen.de/68603/
  • North, D. C. (1991). Institutions. Journal of Economic Perspectives, 5 (1), 97–112, https://doi.org/10.1257/jep.5.1.97
  • North, D., Acemoğlu D., Fukuyama, F. ve Rodrik, D., (2008). Governance, Growth, and Development Decision Making. The International Bank for Reconstruction and Development / The World Bank, Washington.
  • Orayo, J. A. ve Mose, G. N. (2016). A Comparative Study on Contribution of Governance on Economic Growth Countries in the East African Community. International Journal of Regional Development, 3 (2), 89-106.
  • Rhodes, R. A. W. (1996). The New Governance: Governing Without Government. Political Studies, 44 (4), 652-667.
  • Rodrik, D., Subramanian, A. ve Trebbi, F. (2004). Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development. Journal of Economic Growth. 9 (2), 131–165.
  • Seldadyo, H., Nugroho, E. P. ve De Haan, J. (2007). Governance and Growth Revisited. Kyklos, 60 (2), 279–290.
  • Setayesh, M. H. ve Daryaei, A. A. (2017). Good Governance, İnnovation, Economic Growth and the Stock Market Turnover Rate. The Journal of International Trade & Economic Development. doi: 10.1080/09638199.2017.1334809
  • Stoker, G. (1998). Governance as Theory: Five Propositions. International Social Science Journal, 50 (155), 17-28.
  • Şahin, D. (2018). MENA Ülkelerinde Kurumsal Kalite ve Ekonomik Büyüme İlişkisinin Analizi. İktisadi Yenilik Dergisi, 5 (1), 1-9.
  • Ünlükaplan, İ., Arısoy, İ. ve Canıkalp, E. (2018). Yönetişim Kalitesi ve İktisadi Büyüme: Türkiye Ekonomisi İçin Bir Ampirik Analiz. International Journal of Economic and Administrative Studies, (Prof. Dr. Harun Terzi Özel Sayısı), 487-508.
  • Yamak, T. (2017). Kurumsal Kalite Faktörlerinin Ekonomik Büyüme Üzerindeki Etkisi: Körfez Ülkeleri Örneği. Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi, 5 (4), 63-79.
  • Yapraklı, S. (2008). Kurumsal Yapının Ekonomik Büyümeye Etkisi: Üst Orta Gelir Düzeyindeki Ülkeler Üzerine Bir Uygulama. Ege Akademik Bakış, 8 (1), 301-317.
  • Zubair, S. S. ve Khan, M. A. (2014). Good Governance: Pakistan’s Economic Growth and Worldwide Governance Indicators. Pakistan Journal of Commerce and Social Sciences, 8 (1), 258-271.
Toplam 47 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Konular Ekonomi
Bölüm ARAŞTIRMA MAKALELERİ
Yazarlar

Dilek Özdemir 0000-0002-8048-7730

İlyas Kays İmamoğlu 0000-0002-7732-4148

Yayımlanma Tarihi 30 Nisan 2021
Yayımlandığı Sayı Yıl 2021 Cilt: 5 Sayı: 1

Kaynak Göster

APA Özdemir, D., & İmamoğlu, İ. K. (2021). YÖNETİŞİM GÖSTERGELERİ VE BÜYÜME: GELİŞMİŞ VE GELİŞMEKTE OLAN G20 ÜLKELERİ İÇİN BİR NEDENSELLİK ANALİZİ / Governance Indicators and Growth: A Causality Analysis for Developed and Developing G20 Countries. Uluslararası Ekonomi İşletme Ve Politika Dergisi, 5(1), 113-135. https://doi.org/10.29216/ueip.878932

Uluslararası Ekonomi, İşletme ve Politika Dergisi

Recep Tayyip Erdoğan Üniversitesi
İktisadi ve İdari Bilimler Fakültesi
İktisat Bölümü
RİZE