YÖNETİŞİM GÖSTERGELERİ VE BÜYÜME: GELİŞMİŞ VE GELİŞMEKTE OLAN G20 ÜLKELERİ İÇİN BİR NEDENSELLİK ANALİZİ

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 Emirmahmutoglu and Kose (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.