Is Competition Effective On The Economic Growth Of Countries? Case Of Turkey and BRICS Countries
Keywords:Global Competitiveness Index, Economic Growth, BRICS Countries, Turkey
The purpose of this study is to investigate whether the competitiveness factor has an impact on the economic growth of countries. For this purpose, the BRICS group of countries (Brazil, Russia, India, China, and South Africa) and Turkey's 15-year data for the period 2007-2021 were included in the analysis. The growth rates of the countries were used as the dependent variable and the global competitiveness index as the independent variable. The Westerlund cointegration test and the AMG and CCE group estimators were used as methods in the study. As a result of the analysis, it was found that there is a cointegrated relationship between the growth rates of countries and the global competitiveness index in the long run and that this relationship is isotropic, meaning that the increase in global competition positively affects the growth rates of countries.
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