Ekonomik performansın sistemik itici güçleri: Küresel Rekabet Edebilirlik Endeksine panel veri yaklaşımı

This study aims to investigate the causes of varying economic development performance of countries with regard to governance of macroeconomic constituents by employing the systemic economic governance approach. In this framework, by adopting the systemic governance and institutional complementarity, the economic governance perspective was reconstructed within the framework of the methodological approach of the Global Competitiveness Index. Furthermore by using, Driscoll-Kraay and Dumitrescu-Hurlin methods, individual and complementary effects of economic governance, corporate governance, financial governance, government efficiency, labour market efficiency, goods market efficiency, international economic governance, technology and innovation into GDP growth per capita are analyzed for 23 factor-driven, 37 efficiency-driven, and 14 innovation-driven countries for the period of 2007-2017. Results can be summarized into seven; the first one is macroeconomic governance benefits growth for all country groups, the second financial market governance stimulates economic growth on efficiency-driven and innovation-driven countries, the third government efficiency strengthen growth only on efficiency driven countries, the forth innovation positively effects growth in innovation-driven and efficiency driven countries, the fifth technology is beneficial for growth on factor-driven and efficiency-driven countries, the sixth labor market efficiency poses negative effects growth on efficiency driven countries and positively related on innovation driven countries, and lastly corporate governance imposes negative effect to growth on all country groups. Moreover, causality test results demonstrates a existence of systemic governance based on the negative institutional complementarities.