The Relationship Between Democracy, Environment and Economic Growth in Turkey
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https://doi.org/10.5281/zenodo.10459376Keywords:
Economic growth, Democracy, Environment, Hatemi-J cointegration, FMOLSAbstract
With the information society, it has been observed that although physical capital provides economic growth, it is not sufficient alone to make this growth sustainable. The aim of this study is to empirically reveal the impact of environmental and democratic variables that may affect economic growth other than physical capital on economic growth in Turkey. The study covers annual data from 2006 to 2022 due to data limitations. GDP and GDP per capita are used as indicators of economic growth, CO2 emissions per capita are used as indicators of environmental variables, and an index consisting of the sum of 8 different indicators is used as a democracy variable. While the existence of a long-run relationship is examined by Hatemi-J cointegration analysis, the FMOLS coefficient estimator is used to express this relationship numerically. The findings empirically reveal that there is a long-run relationship between democracy, environment and economic growth, while there is a weak relationship between democracy and economic growth and a strong relationship between environment and economic growth in Turkey.
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