TY  - JOUR
T1  - Financial Complexity: A Comparison Study of Türkiye, Iran, Saudi Arabia and the UAE
TT  - Finansal Karmaşıklık: Türkiye, İran, Suudi Arabistan ve BAE Üzerine Karşılaştırmalı Bir Çalışma
AU  - Makiyan, Seyed-nezamuddin
AU  - Pourabdollah, Fatemah
AU  - Hajamini, Mehdi
AU  - Zare, Muhammad Hasan
PY  - 2025
DA  - April
Y2  - 2025
DO  - 10.17233/sosyoekonomi.2025.02.03
JF  - Sosyoekonomi
PB  - Sosyoekonomi Society
WT  - DergiPark
SN  - 1305-5577
SP  - 61
EP  - 76
VL  - 33
IS  - 64
LA  - en
AB  - Over the last few decades, the global financial network has become increasingly complex due to the rapid growth in science and technology, as well as the expanding number of financial instruments worldwide. In this setting, several issues and problems arose, including the rising systemic risk in the financial sector, which in turn increased the sector's vulnerability. In emerging markets, such as Türkiye, Iran, Saudi Arabia, and the UAE, the potential risk may arise due to the financial complexity of these markets. Therefore, the probability of crises will increase. This study investigated the complexity of financial systems in these countries using McCabe’s network approach from 2005 to 2020. Measuring complexity indicates that Türkiye, with a score of 95, Iran (77), Saudi Arabia (49), and the UAE (36) have been graded in terms of financial complexity. As a result, Türkiye has the highest, and the UAE has the lowest systemic risk among these countries. Additionally, the results suggest that capital markets do not play a significant role in these economies.
KW  - Financial Complexity
KW  - McCabe’s Complexity
KW  - Türkiye
KW  - Iran
KW  - Saudi Arabia
KW  - United Arab Emirates
N2  - Son yıllarda, bilim ve teknolojideki hızlı büyüme ve artan sayıdaki finansal araçlar nedeniyle küresel finansal ağ daha karmaşık bir hale gelmiştir. Bu durum finans sektöründe sistemik riskin artması ve dolayısıyla bu sektörün daha fazla kırılgan hale gelmesi gibi bazı sorunları beraberinde getirmiştir. Türkiye, İran, Suudi Arabistan ve BAE gibi gelişmekte olan piyasalarda, bu tür piyasaların finansal karmaşıklığı nedeniyle olası riskler ortaya çıkabilir. Bu bağlamda kriz olasılığı artabilir. Bu çalışmada, 2005-2020 yılları arasında McCabe’nin karmaşıklık ölçütü kullanılarak bu 4 ülkedeki finansal sistemlerin karmaşıklığı araştırılmıştır. Araştırma sonucuna göre, 95 ile Türkiye, 77 ile İran, 49 ile Suudi Arabistan ve 36 ile BAE finansal karmaşıklık açısından derecelendirilmiştir. Türkiye en yüksek, BAE ise en düşük sistemsel riske sahiptir; sermaye piyasasının incelenen ekonomilerde etkili bir rolü olmadığı görülmüştür.
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UR  - https://doi.org/10.17233/sosyoekonomi.2025.02.03
L1  - https://dergipark.org.tr/en/download/article-file/4049479
ER  -