The Impact of Structural Reforms on Economic Growth in Turkey: Evidence from Linear and Nonlinear ARDL Modeling

…mer Yal Inkaya, Muhammet Dastan and Kerem Karabulut ()

Estudios de Economia, 2021, vol. 48, issue 1 Year 2021, 59-87

Abstract: This paper investigates the relationship between structural reforms and economic growth in Turkey during the 1990-2019 period. Employing a novel database (the MONA database), it constructs structural reform indexes for the fiscal, financial, real, and trade sectors with two different approaches (z-score and min-max). The study uses both the linear ARDL and nonlinear ARDL (NARDL) models to provide additional robust evidence of the response of economic growth to structural reforms. The findings indicate that financial, fiscal, real, and total structural reforms have positive and statistically significant effects on economic growth in Turkey, although the growth potential of trade structural reforms seems not to have been realized.

Keywords: Structural Reforms; Economic Growth; ARDL Model; Turkish Economy. (search for similar items in EconPapers)
JEL-codes: C22 O23 O24 O40 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:udc:esteco:v:48:y:2021:i:1:p:59-87

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