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Journals / Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi / 2019 / Cilt: 0 - Sayı: 53

INSTITUTIONS OF FREE MARKET ECONOMY, ECONOMIC GLOBALIZATION AND HUMAN DEVELOPMENT: AN EMPIRICAL INVESTIGATION FOR OECD COUNTRIES

PİYASA EKONOMİSİ KURUMLARI, EKONOMİK KÜRESELLEŞME VE İNSANİ GELİŞME: OECD ÜLKELERİ İÇİN AMPİRİK BİR ARAŞTIRMA

Ünal ARSLAN
Arif Eser GÜZEL
Pages
39–58
Publication Date
2022-10-18
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

According to long run coefficients, the adaptation level of countries to the capitalist system and economic globalization effects development positively.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:In this study, the relationship between the institutions of capitalist system and human development is investigated for OECD countries.
📊
Key Findings & Data: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.
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Conclusion & Impact:According to long run coefficients, the adaptation level of countries to the capitalist system and economic globalization effects development positively.
🔬Design:Research Article
📍Scope:Comprehensive Sample
⚙️Variables:Domain Parameters

Abstract

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.

Özet

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

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Cite This Article

ARSLAN, Ü., GÜZEL, A. E. (2022). INSTITUTIONS OF FREE MARKET ECONOMY, ECONOMIC GLOBALIZATION AND HUMAN DEVELOPMENT: AN EMPIRICAL INVESTIGATION FOR OECD COUNTRIES. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Cilt: 0 - Sayı: 53, 39–58. https://ajindex.com/articles/503468

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