%0 Journal Article
	%A Ugur Karakaya and  Hasan Bulent Kantarc─▒
	%D 2015
	%J International Journal of Humanities and Social Sciences
	%B World Academy of Science, Engineering and Technology
	%I Open Science Index 102, 2015
	%T The Relationship between Democracy, Freedom, and Economic Development
	%U https://publications.waset.org/pdf/10001565
	%V 102
	%X In this study, firstly democratic thoughts which
directly or indirectly affect economic development and/or the
interaction between authoritarian regimes and the economic
development and the direction and channels of this interaction were
studied and then the study tried to determine how democracy affects
economic development. It was concluded that the positive
contributions of democracy to economic development were more
determinant than the effects that were either negative or restrictive in
terms of development. When compared to autocracy, since
democracy is more successful in managing social conflicts, ensuring
political stability and preventing social disasters such as famine, it
contributes more to economic development. Democracy also
facilitates delegation of authority, provides a stable investment
environment and accelerates mobilization of resources in accordance
with economic growth/development. Democracy leads to an increase
in human capital accumulation and increases the growth rate through
reducing income inequality. It can be said that democratic regimes
are the most appropriate ones in terms of increasing economic
performance and supporting economic development through their
strong institutional structures and the assurance they will ensure in
property rights.
	%P 1863 - 1871