A RESEARCH ON THE RELATIONSHIP OF POLITICAL STABILITY AND ECONOMIC GROWTH IN BRICS-T COUNTRIES

Abstract

In recent years, it is seen that studies on the strong relationship between political stability and economic growth have increased. Political stability is an important element in the policies that political actors or political parties will implement during their term of office. İn this study, 43 percent of the world's population and the world's economy is estimated to comprise 30% BRICS-T countries to investigate the relationship between political stability and economic growth performance is the main purpose of the study. For this purpose, the relationship between political stability and economic growth in the BRICS-T countries, which are among the developing countries, in the 1996-2020 period was tested with the panel data method. In the study, Durbin-Hausman cointegration tests were used for the cointegration relationship when determining the degree of stasis of variables with the second generation CIPS unit root test. Finally, the second generation AMG estimator test was used to determine the coefficient and direction of the long-term cointegration relationship of variables. According to the results of the analyzes, it was found that the impact of political stability, inflation and general government expenditures on economic growth in the BRICS-T countries is statistically significant and negative.