The Effect of Institutions and Human Capital on Economic Growth: The Case of Turkey

Burcu Kuzören (), Hamza Çeştepe () and Hüseyin İçen ()
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Burcu Kuzören: Zonguldak Bülent Ecevit Üniversitesi, Sosyal Bilimler Enstitüsü, İktisat Anabilim Dalı, Zonguldak, Türkiye.
Hamza Çeştepe: Zonguldak Bülent Ecevit Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü, Zonguldak, Türkiye.
Hüseyin İçen: İstanbul Üniversitesi, İktisat Fakültesi, Ekonometri Bölümü, İstanbul, Türkiye.

EKOIST Journal of Econometrics and Statistics, 2019, vol. 30, issue 0, 65-81

Abstract: Regardless of the level of development, the sources of economic growth, which is one of the main objectives of all countries, are divided into two as direct and indirect sources. It is stated that indirect resources such as human capital and institutions affect the growth as well as direct resources such as labor, physical capital and natural resources. In this study, human capital and institutions that have an impact on how economic growth in Turkey’s case was examined empirically. For this purpose, ARDL bounds test was performed by using the data of 1960-2014 period. In this study, the schooling rate is used as an indicator of human capital and the index of political freedoms is used as an indicator of institutions. In other words, It can be said; human capital positively affects economic growth in Turkey when political freedoms are good. In this context, policies to improve the quality of human capital and institutions in Turkey should be identified and put into practice in a structured way.

Keywords: Institutions; Human capital; Economic growth; ARDL (search for similar items in EconPapers)
JEL-codes: C32 J24 O43 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ist:ekoist:v:30:y:2019:i:0:p:65-81

DOI: 10.26650/ekoist.2018.30.0010

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