GOVERNANCE, ENTREPRENEURSHIP AND ECONOMIC GROWTH: A PANEL CAUSALITY ANALYSIS

Year 2022, Volume: 5 Issue: 2, 304 - 317, 31.12.2022

İlyas Kays İmamoğlu

https://doi.org/10.46737/emid.1205240

Cited By: 3

Abstract

Discussions in the economic literature that governance is an essential factor in the economic growth process that started in the 1990s continue today. The focus of these discussions is closely related to the meaning and scope of the concept of governance, which is considered the performance of institutions in countries. The view that the governance characteristics of the countries can affect the functioning of the market mechanism has brought questions about determining the behavior of entrepreneurs, who are one of the market actors, and their level of influence on economic growth. For this purpose, in this study, the relationships between governance, entrepreneurship, and economic growth were examined in the 2006-2020 period and a sample of 56 countries, with the panel causality analysis developed by Dumitrescu and Hurlin (2012). According to the findings, it has been determined that there are bidirectional causal relationships between economic growth and entrepreneurship, bidirectional causal relationships between economic growth and governance, and bidirectional causal relationships between governance and entrepreneurship. These results highlight the importance of governance and entrepreneurship factors for sustainable economic growth, which is the main problem of economies.

Keywords

Governance Entrepreneurship, Economic Growth, Panel Data Analysis

YÖNETİŞİM, GİRİŞİMCİLİK VE EKONOMİK BÜYÜME: BİR PANEL NEDENSELLİK ANALİZİ

Abstract

Ekonomi yazınında, 1990’lı yıllarda başlayan ekonomik büyüme sürecinde yönetişimin önemli bir faktör olduğu tartışmaları, günümüzde de devam etmektedir. Bu tartışmaların odak noktası, ülkelerdeki kurumların performansı olarak ele alınan yönetişim kavramının içerdiği anlam ve kapsadığı alanla yakından ilişkilidir. Ülkelerin yönetişimsel özelliklerinin, piyasa mekanizmasının işleyişine etki edebileceği görüşü, piyasa aktörlerinden biri olan girişimcilerin davranışlarını ve ekonomik büyüme üzerindeki etki düzeylerinin belirlenebilmesine yönelik soruları da beraberinde getirmiştir. Bu amaçla bu çalışmada yönetişim, girişimcilik ve ekonomik büyüme arasındaki ilişkiler Dumitrescu ve Hurlin (2012) tarafından geliştirilen panel nedensellik analizi ile 2006-2020 döneminde ve 56 ülke örnekleminde incelenmiştir. Elde edilen bulgulara göre ekonomik büyüme ile girişimcilik arasında çift yönlü, ekonomik büyüme ile yönetişim arasında çift yönlü ve yönetişim ile girişimcilik arasında çift yönlü nedensel ilişkilerin olduğu belirlenmiştir. Bu sonuçlar, ekonomilerin temel sorunu olan sürdürülebilir ekonomik büyüme için yönetişim ve girişimcilik faktörlerinin önemini vurgulamaktadır.

Keywords

Yönetişim, Girişimcilik, Ekonomik Büyüme, Panel Veri Analizi

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