Democracy and economic development: An analysis for Central Asian Turkic Republics after 1992

Pişkin, Ali (Dogus Author) -- Conference full title: International Conference on Eurasion Economies 2010, November 4-5, Istanbul, Beykent UniversityLipset (1959) had firstly claimed that democracy is not entirely based on social conditions but also it is based on condition of fulfillment of economic development. Following many empirical studies have pointed out the positive relation between democracy and economic development. In this study, basic conditions that are stated as determining variables for the mentioned relation by Barro (1996) are interpreted and debated within the context of data held from International institutes such as the World Bank and the United Nations for Central Asian Turkic Republics after 1992. In the situation that the positive relation occurs, maintenaning of the rule of law, free markets, small government consumption and high human capital are required as instruments of economic policy