Year 2008, Volume 22, Issue 1, Pages 173 - 193 2010-11-27

FİNANSAL PİYASALARDAKİ GELİŞMELERİN İKTİSADİ BÜYÜME ÜZERİNE ETKİLERİ: TÜRKİYE İÇİN BİR VAR MODELİ

Berer Güngör [1] , Ömer Yılmaz [2]

325 791

Bu çalışmada, 1987–2005 dönemine ait üç aylık ekonomik veriler kullanılarak, ülkemizde bankacılık sektörü ve menkul kıymet piyasasındaki gelişmelerin iktisadi büyüme üzerindeki muhtemel etkileri araştırılmıştır. Johansen- Juselius eş-bütünleşme test sonuçları, bankacılık sektörü ve menkul kıymet piyasasındaki gelişmeler ile iktisadi büyüme arasında uzun dönemli bir ilişki olduğunu göstermiştir. Granger nedensellik test sonuçları ise, borsa gelişimi ile iktisadi büyüme arasında iki yönlü, bankacılık sektörüyle iktisadi büyüme arasında iktisadi büyümeden bankacılık sektörüne doğru tek yönlü bir nedenselliğe işaret etmiştir. Ülkemize yönelik elde edilen bu bulgular, literatürdeki “talep takibi” görüşünü desteklemektedir.
Bankacılık Sektörü, Menkul Kıymet Borsası, İktisadi Büyüme
  • Acemoglu, Daron ve Fabrizio Zilibotti (1997), “Was Prometheus Unbound by Chance? Risk, Diversification, and Growth”, Journal of Political Economy, 105: 709–775.
  • Acemoglu, Daron, Philippe Aghion, ve Fabrizio Zilibotti (2003), “Distance to Frontier, Selection, and Economic Growth”, National Bureau of Economic Growth, Working Paper No. 9066.
  • Al-Yousif, Yousif Khalifa (2002), “Financial Development and Economic Growth: Another Look at the Evidence from Developing Countries” Review of Financial Economics, 11(2): 131–50.
  • Arestis, Philip, Panicos O. Demetriades ve Kul B. Luintel (2001), “Financial Development and Economic Growth: The Role of Stock Markets”, Journal of Money, Credit, and Banking, 33: 16-41.
  • Bencivenga, Valerie R. ve Bruce D. Smith (1991), "Financial Intermediation and Endogenous Growth”, Review of Economics Studies, 58: 195–209.
  • Bencivenga, Valerie. R. ve Bruce D. Smith (1993), "Some Consequences of Credit Rationing in an Endogenous Growth Model”, Journal of Economic Dynamics and Control, 17: 97-122.
  • Blackburn, Keith ve Victor T.Y. Hung (1998), “A Theory of Growth, Financial Development, and Trade”, Economica, 65: 107–24.
  • Boyd, John H. ve Bruce D. Smith (1992), “Intermediation and the Equilibrium Allocation of Investment Capital: Implications for Economic Development”, Journal of Monetary Economics, 30: 409-432.
  • Charemza, Wojciech W. ve Derek F. Deadman, (1993), Econometric Practice, Vermont.
  • Christopoulos, Dimitris ve Efthymios Tsionas (2004), “Financial Development and Economic Growth: Evidence from Panel Unit Root and CoIntegration Tests”, Journal of Development Economics, 73, 55–74.
  • Darrat. Ali F. (1999) “Are Financial Deepening and Economic Growth Causally Related? Another Look at the Evidence”, International Economic Journal, 13(3): 19–35.
  • Davidson, Russell ve James G. MacKinnon. (1993), Estimation and Inference in Econometrics, Oxford University Pres.
  • Demetriades, Panicos ve Khaled Hussein (1996), “Does Financial Development Cause Economic Growth? Time Series Evidence from 16 Countries”, Journal of Development Economics, 51: 387–411.
  • Galetovic, Alexander (1996), “Specialization, Intermediation and Growth”, Journal of Monetary Economics, 38: 549–59.
  • Goldsmith, Ray (1969), Financial Sturucture and Development, Yale University Pres, New Haven.
  • Graff, Michael (2002), “Causal Links between Financial Activity and Economic Growth: Empirical Evidence from a Crosscountry Analysis”, Bulletin of Economic Research, 54, 119–33.
  • Granger, Clive W.J. ve Paul Newbold, (1974), “Spurious in Econometrics”, Journal of Economics, 2: 111-120.
  • Greenwood, Jeremy ve Bruce. Smith (1997), “Financial Markets in Development, and The Development of Financial Markets’, Journal of Economic Dynamic and Control, 21: 145–181.
  • Greenwood, Jeremy ve Boyan Jovanovic (1990), “Financial Development, Growth, and the Distribution of Income”, Journal of Political Economy, 98: 1076-1107.
  • Gujarati, Damodar N. (1995), Basic Econometrics, Third Edition, New York McGraw-Hill.
  • Jung, Woo (1986), “Financial Development and Economic Growth: International Evidence”, Economic Development and Cultural Change, 34: 333–46.
  • Kadılar, Cem (2000), Uygulamalı Çok Değişkenli Zaman Serileri Analizi,Bizim Büro Basımevi, Ankara.
  • Karacaoglu, Girol (1989), An Introduction to Financial Markets in New Zealand, Wellington, Victoria University Press.
  • Kassimatis, Konstantinos ve Spyros Spyrou, (2001), “Stock and Credit Market Expansion and Economic Development in Emerging Markets: Further Evidence Utilizing Cointegration Analysis”, Applied Economics, 33:1057–64.
  • Kearney, Colm ve Mehdi Monadjemi (1990) ‘Fiscal Policy and Current Account: International Evidence on the Twin Deficit’, Journal of Macroeconomics, 12(2), pp: 197–217.
  • King Robert. G. ve R. Levine (1993), “Finance and Growth: Schumpeter Might Be Right?” Quarterly Journal of Economics, 108: 717–737.
  • King, Robert.G. ve Levine Ross. (1993b), “Finance, Entrepreneurship and Growth: Theory and Growth’, Journal of Monetary Economics, 32: 513–542.
  • La Porta, Rafael, Florencio Lopez-de-Silanes ve Andrei Shleifer (2002), “Government Ownership of Banks”, Journal of Finance, 57: 265-301.
  • Levine Ross. ve Sara Zervos (1996), “Stock Markets, Banks and Economic Growth”, The World Bank, Policy Research Depertmant, Working Paper No:1690: 1–44.
  • Levine, Ross (1997), “Financial Development and Economic Growth: Views and Agenda”, Journal of Economic Literature, 35: 688-726.
  • Levine, Ross. (1991), “Stock Markets, Growth, and Tax Policy”, Journal of Finance, 96: 1445-1465.
  • Lucas, Robert E. Jr. (1988), “On the Mechanics of Economic Development’, Journal of Monetary Economics, 22: 3–42.
  • Luintel, Kul ve Mosahid Khan (1999), “A Quantitative Reassessment of the Finance-Growth Nexus: Evidence from a Multivariate VAR”, Journal of Development Economics, 60: 381 -405.
  • McKinnon, Ronald (1973), Money and Capital in Economic Development, Brookings Institution, Washington DC . Morales, Maria F. (2003), “Financial Intermediation in a Model of Growth Through Creative Descruction”, Macroeconomic Dynamics, 7: 363–93.
  • Nourzad, Farrokh (2002), “Financial Development and Productive Efficiency: A Panel Study of Developed and Developing Countries”, Journal of Economics and Finance, 26: 138–49.
  • Obstfeld, Maurice (1994), “Risk-Taking, Global Diversification and Growth”, American Economic Review, 84: 1310–1329.
  • Pindyck, Robert. S. ve Daniel L. Rubinfeld (1991), Econometric Models and Economic Forecasts, 3rd.Ed., McGraw Hill.
  • Robinson, Joan (1952), The Rate of Interest and Other Essays, Macmillan Press., London.
  • Schich, Sebastian ve Florian Pelgrin (2002), “Financial Development and Investment: Panel Data Evidence for OECD Countries from 1970 to 1997”, Applied Economics Letters, 9: 1–7.
  • Sinha, Dipendra ve Macri, Joseph (2001), “Financial development and economic growth: the case of eight Asian countries”, Economia Internazionale, 54(2): 219–234.
  • Shan, Jordan Z., Alan G. Morris ve Fiona Sun (2001), “Financial Development and Economic Growth: An Egg and Chicken Problem?”, Review of International Economics, 9: 443-454.
  • Shaw, Edward (1973), Financial Deepening in Economic Development, Oxford University Press., New York.
  • Sims, Chiristopher A. (1980) ‘Macroeconomics and Reality’, Econometrica,48:1–49.
  • Sirri, Erik R. ve Peter Tufano (1995), The Economics of Pooling in the Global Financial System: A Functional Approach, Eds: D. B. Crane, et al., Boston, MA: Harvard Business School Press: 81-128.
  • Yılmaz, Ömer ve Vedat Kaya (2006), “Finansal Kalkınma ve İktisadi Büyüme Arasındaki Nedensellik”, İktisat, İşletme ve Finans Dergisi, Yıl: 21, Sayı: 244, Temmuz, 2006, 120–131.
Primary Language tr;en
Journal Section Makaleler
Authors

Author: Berer Güngör

Author: Ömer Yılmaz

Dates

Publication Date: November 27, 2010

Bibtex @ { atauniiibd35442, journal = {Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi}, issn = {1300-4646}, eissn = {2147-7582}, address = {Ataturk University}, year = {2010}, volume = {22}, pages = {173 - 193}, doi = {}, title = {FİNANSAL PİYASALARDAKİ GELİŞMELERİN İKTİSADİ BÜYÜME ÜZERİNE ETKİLERİ: TÜRKİYE İÇİN BİR VAR MODELİ}, key = {cite}, author = {Güngör, Berer and Yılmaz, Ömer} }
APA Güngör, B , Yılmaz, Ö . (2010). FİNANSAL PİYASALARDAKİ GELİŞMELERİN İKTİSADİ BÜYÜME ÜZERİNE ETKİLERİ: TÜRKİYE İÇİN BİR VAR MODELİ. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 22 (1), 173-193. Retrieved from http://dergipark.org.tr/atauniiibd/issue/2693/35442
MLA Güngör, B , Yılmaz, Ö . "FİNANSAL PİYASALARDAKİ GELİŞMELERİN İKTİSADİ BÜYÜME ÜZERİNE ETKİLERİ: TÜRKİYE İÇİN BİR VAR MODELİ". Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi 22 (2010): 173-193 <http://dergipark.org.tr/atauniiibd/issue/2693/35442>
Chicago Güngör, B , Yılmaz, Ö . "FİNANSAL PİYASALARDAKİ GELİŞMELERİN İKTİSADİ BÜYÜME ÜZERİNE ETKİLERİ: TÜRKİYE İÇİN BİR VAR MODELİ". Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi 22 (2010): 173-193
RIS TY - JOUR T1 - FİNANSAL PİYASALARDAKİ GELİŞMELERİN İKTİSADİ BÜYÜME ÜZERİNE ETKİLERİ: TÜRKİYE İÇİN BİR VAR MODELİ AU - Berer Güngör , Ömer Yılmaz Y1 - 2010 PY - 2010 N1 - DO - T2 - Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi JF - Journal JO - JOR SP - 173 EP - 193 VL - 22 IS - 1 SN - 1300-4646-2147-7582 M3 - UR - Y2 - 2019 ER -
EndNote %0 Journal of Economics and Administrative Sciences FİNANSAL PİYASALARDAKİ GELİŞMELERİN İKTİSADİ BÜYÜME ÜZERİNE ETKİLERİ: TÜRKİYE İÇİN BİR VAR MODELİ %A Berer Güngör , Ömer Yılmaz %T FİNANSAL PİYASALARDAKİ GELİŞMELERİN İKTİSADİ BÜYÜME ÜZERİNE ETKİLERİ: TÜRKİYE İÇİN BİR VAR MODELİ %D 2010 %J Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi %P 1300-4646-2147-7582 %V 22 %N 1 %R %U
ISNAD Güngör, Berer , Yılmaz, Ömer . "FİNANSAL PİYASALARDAKİ GELİŞMELERİN İKTİSADİ BÜYÜME ÜZERİNE ETKİLERİ: TÜRKİYE İÇİN BİR VAR MODELİ". Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi 22 / 1 (November 2010): 173-193.
AMA Güngör B , Yılmaz Ö . FİNANSAL PİYASALARDAKİ GELİŞMELERİN İKTİSADİ BÜYÜME ÜZERİNE ETKİLERİ: TÜRKİYE İÇİN BİR VAR MODELİ. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi. 2010; 22(1): 173-193.
Vancouver Güngör B , Yılmaz Ö . FİNANSAL PİYASALARDAKİ GELİŞMELERİN İKTİSADİ BÜYÜME ÜZERİNE ETKİLERİ: TÜRKİYE İÇİN BİR VAR MODELİ. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi. 2010; 22(1): 193-173.