The Relationship Between Economic Growth and Institutional Variables: a Panel Cointegration Analysis for EU Countries

Abdulvahap Akıncı (), Sefa Usta () and Emin Ahmet Kaplan ()
Additional contact information
Abdulvahap Akıncı: Political Science and Administration, Kocaeli University
Sefa Usta: Political Science and Administration, Karamanoğlu Mehmetbey University
Emin Ahmet Kaplan: Political Science and Administration, Karamanoğlu Mehmetbey University

Journal of the Knowledge Economy, 2023, vol. 14, issue 3, No 14, 2395-2419

Abstract: Abstract The principle of governance, which was used for the first time by the World Bank, was adopted and put into practice by the European Union. The European Union (EU) has envisaged serious change and transformation in the administrative system of the member and candidate countries within the framework of the principle of governance and has shaped the legal and institutional framework for this. The aim of this study prepared based on these developments is to analyze the performance of the member and candidate countries in terms of economy and governance indicators in the period between 1996 and 2019, taking into account the institutional structure of the EU. In the study, the relationship between economic growth and institutional variables has been tried to be examined, based on the EU’s member and candidate countries. In the research, long-term relationships between economic growth and institutional variables are determined by taking into consideration the panel data analysis. According to the findings of the study, there is a positive and statistically significant relationship between economic growth and political stability and absence of violence and control of corruption for the EU countries in the long run.

Keywords: European Union; Governance; Economic growth; Panel cointegration analysis (search for similar items in EconPapers)
JEL-codes: C33 E02 O43 (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s13132-022-00928-9 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:jknowl:v:14:y:2023:i:3:d:10.1007_s13132-022-00928-9

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/13132

DOI: 10.1007/s13132-022-00928-9

Access Statistics for this article

Journal of the Knowledge Economy is currently edited by Elias G. Carayannis

More articles in Journal of the Knowledge Economy from Springer, Portland International Center for Management of Engineering and Technology (PICMET)
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().