Özet:

Two different approaches to the concept of democracy, the minimalist and the maximumist approaches, have emerged as a significant difference in determining the nature of democracies. The minimalist approach to democracy is based on the formal aspect of the concept of democracy. The maximumist approach deals with democracy in a wider framework, with its qualitative dimensions and the values related to the essence of democracy. Although many countries are governed by democracy, there are differences between them in terms of the level of democratization and the nature of their democracies. In the formal sense, besides democracies that operate only procedurally, there are qualified democratic regimes that operate together with their original values that constitute the basis of democracy. The nature of democracy in the letter of democracy means that the principles such as freedom, equality and participation have been implemented, the level of representation of the people, accountability and sensitivity to the demands of the people. On the other hand, it is stated that socially and economically more advanced countries have a better position in terms of democratization than less advanced countries. So the level of social and economic development affects the level of democracy, while the level of democracy can also influence the level of social and economic development. There are different opinions on the relationship between democracy and socio-economic development. One of these approaches is the theory of modernization. The modernization theory claims that there is a mutual relationship between democracy and socio-economic development. The efforts to understand the relationship between democracy and development have revealed the theory of modernization. The implementation of democracy in a country with all its principles and institutions both affects and affects its social and economic conditions. The study aimed at examining the relations between the level of democratization and socio-economic development in the OECD countries in the period 2002-2017. In the study, the Pedroni panel integration test, the panel used the ordinary smallest square forecast method and the panel Granger cause test the econometric methods. The findings show that the level of democratization in OECD countries affects both socio-economic development and socio-economic development.