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Estudios de economía

On-line version ISSN 0718-5286

Estudios de Economía vol.48 no.1 Santiago June 2021

http://dx.doi.org/10.4067/S0718-52862021000100059 

Artículos

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

El Impacto de las Reformas Estructurales en Turquía: Evidencia de Modelos ARDL Lineales y No Lineales

Omer Yalçinkaya1 

Muhammet Daştan2 

Kerem Karabulut1 

1Faculty of Economics and Administrative Sciences, Atatürk University, Erzurum, Turkey

2Faculty of Economics and Administrative Sciences, Ağrı İbrahim Çeçen University, Ağrı, Turkey

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

Resumen:

Este trabajo investiga la relación entre las reformas estructurales y el crecimiento en Turquía para el periodo 1990-2019. Utilizando una nueva base de datos (MONA), se construyen índices de reformas fiscal, financiera, real y comercial. Se utilizan modelos ARDL lineales y no lineales que proveen evidencia robusta de la respuesta del crecimiento a las reformas. Se encuentra que todas las reformas, a excepción de la comercial, han afectado significativa y positivamente.

Palabras clave: Reformas estructurales; crecimiento económico; modelos ARDL; Turquía

Full text available only in PDF format.

Texto completo disponible sólo en PDF.

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Received: October 0, 2020; Accepted: January 0, 2021

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