@article{2018,title={The Effect of Democracy Indicators on Humanity Development: A Panel Data Analyses on European Union Countries},abstractNode={There have been many researches carried out up to now to determine the relationship between democracy and institutional establishments and welfare. In this context, it is widely known that the indicators of democracy affect the welfare in a positive way. In this study, it was aimed to investigate the effect of democracy indicators on the human development as a prosperity indicator in the European Union countries between 2007 and 2014. The democracy indicators in the study included the The Economist Democracy Index and the Property Rights Index laid down by the Property Rights Alliance. Apart from democracy indicators, trade openness ratio, unemployment rate, inflation rate, public education expenditures and public health expenditures variables have been included in the study. Besides all these, Human Development Index exposed by United Nations Development Program (UNDP) was accepted as a human development indicator as well. At the end of the analyses, there was seen a meaningful relation statistically in a positive way between the democracy indicators of European Union Countries and the development of humanity.},author={Mustafa Necati ÇOBAN-& Rüştü YAYAR},year={2018},journal={Journal of Academic Value Studies (JAVStudies)}}