GOVERNANCE, ENTREPRENEURSHIP AND ECONOMIC GROWTH: A PANEL CAUSALITY ANALYSIS

İlyas Kays İmamoğlu
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İlyas Kays İmamoğlu: Bayburt Universitesi Sosyal Bilimler Meslek Yuksekokulu

Ekonomi Maliye Isletme Dergisi, 2022, vol. 5, issue 2, 304-317

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 (search for similar items in EconPapers)
JEL-codes: G28 L26 O40 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:gnx:emid43:2022-5-2-1205240

DOI: 10.46737/emid.1205240

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