POLİTİK İSTİKRAR VE KİŞİSEL GELİR ARASINDAKİ NEDENSELLİK İLİŞKİSİ: BRICS VE MIST ÜLKELERİ ÖRNEĞİ
THE CAUSAL RELATIONSHIP BETWEEN POLITICAL STABILITY AND PERSONAL INCOME: THE CASE OF BRICS AND MIST COUNTRIES

Summary/Abstract: The aim of this study is to examine the relationship between political stability index, trade openness, employment variables and gross domestic product per capita (GDP per capita) in MIST and BRICS countries on the basis of annual data for the period 2002-2021. The econometric method used in the study is panel data analysis. Within the scope of the analysis, firstly, horizontal cross-section dependence is tested for the variables and the model. CIPS unit root test was applied to determine the stationarity of the panel. Westerlund (2007) panel cointegration test was used to determine the long-run relationship between variables. Finally, Dumitrescu & Hurlin (2012) panel causality test was applied to determine the causality relationship. The results of the study prove the existence of a long-run cointegration relationship between the variables. In addition, based on the results of the causality analysis, it is determined that there is a bidirectional causality relationship between the political stability index, trade openness rate, employment rate and GDP per capita.

• Details
• Contents