Democracy and Economic Growth: Policy Recommendations for Türkiye

Nations development levels have been associated with various factors such as geographical conditions, places of establishment, genetic influences, natural disasters, epidemics, and even fate. Recent studies have established connection between the development level of a country and the political and economic institutions that result from governance style. These institutions serve as fundamental frameworks within societies, encompassing the legal system, educational system, cultural structure, and moral framework; collectively, they shape the entire political and economic infrastructure of the nation. Economists explain the functioning of the economic system and examine how both the system and its participants are affected by the consequences of the actions taken by individuals within that system, while proposing solutions to developmental challenges. In addressing the intertwined processes of production, consumption, and distribution, economics aims not only to identify problems but also to contribute to their solutions. The concept of economic development, which encompasses not only the growth of national economies but also all aspects that increase the quality of life of individuals, has recently been studied together with democracy. The relationship between democracy and economic development, whether former affects the latter or vice versa, has been a frequently investigated topic. This study aims to describe the development of economic development and democracy in Türkiye from the foundation of the Republic to the present day, using macroeconomic indicators and indices. It assumes that political and economic institutions are affected by democratic frameworks of societies and aims to offer policy recommendations for Türkiye.