Institutions of free market economy, economic globalization and human development: an empirical investigation for OECD countries

Yıl 2019, , 39 - 58, 30.06.2019

Arif Eser Güzel , Ünal Arslan

https://doi.org/10.18070/erciyesiibd.479387

Cited By: 1

Öz

In this study, the relationship between the institutions of capitalist system and human development is investigated for OECD countries. An index indicating the free market institutions has been established which includes protection of property, legal enforcement of contracts, rule of law and government size. We also used economic globalization data to indicate liberalization of trade and finance dimensions of free market. According to cointegration results, there is a long run cointegration relationship between the variables. According to long run coefficients, the adaptation level of countries to the capitalist system and economic globalization effects development positively.

Anahtar Kelimeler

Capitalism, Property Rights, Rule of Law, Human Development

Piyasa ekonomisi kurumları, ekonomik küreselleşme ve insani gelişme: OECD ülkeleri için ampirik bir araştırma

Öz

Bu çalışmada, kapitalist sistemin kurumları ile insani gelişme arasındaki ilişki OECD ülkeleri için araştırılmıştır. Çalışmada, mülkiyet haklarının korunması, sözleşmelerin uygulanması, hukukun üstünlüğü ve ekonomide kamu kesimi büyüklüğü göstergeleri kullanılarak ülkelerin kapitalist sisteme uyum derecesini ifade eden özet bir serbest piyasa endeksi oluşturulmuştur. Ayrıca serbest piyasa ekonomisinin, ticari ve finansal serbestleşme boyutlarını ifade etmek üzere ekonomik küreselleşme endeksi kullanılmıştır. Eş bütünleşme testi sonuçlarına göre, değişkenler arasında uzun dönemli bir ilişki mevcuttur. Uzun dönem katsayı tahmin sonucuna göre ise ülkelerin kapitalist sisteme uyum derecesinin artmasının ve ekonomik küreselleşmenin, kalkınmayı uzun dönemde pozitif yönde etkilediğini göstermektedir.

Anahtar Kelimeler

Kapitalizm, Mülkiyet Hakları, Hukukun Üstünlüğü, İnsani Gelişme

Kaynakça

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