TY  - JOUR
T1  - FİNANSAL YAKINSAMA HİPOTEZİNİN WAVELET ANALİZİ İLE TEST EDİLMESİ: E7 ÜLKELERİNDEN AMPİRİK KANITLAR
TT  - TESTING THE HYPOTHESIS OF FINANCIAL CONVERGENCE WITH WAVELET ANALYSIS: EMPIRICAL EVIDENCE FROM E7 COUNTRIES
AU  - Kaya, Yunus
PY  - 2024
DA  - December
Y2  - 2024
DO  - 10.17130/ijmeb.1538689
JF  - Uluslararası Yönetim İktisat ve İşletme Dergisi
JO  - ijmeb
PB  - Zonguldak Bulent Ecevit University
WT  - DergiPark
SN  - 2147-9208
SP  - 1250
EP  - 1272
VL  - 20
IS  - 4
LA  - tr
AB  - Bu çalışmanın amacı, E7 (Çin, Hindistan, Brezilya, Rusya, Meksika, Endonezya ve Türkiye)ülkelerinde finansal yakınsama hipotezini test etmektir. Bu amaç doğrultusunda E7 ülkelerinin finansalgelişme endeksinin Amerika Birleşik Devletleri (ABD) finansal gelişme endeksine yakınsaması testedilmiştir. Çalışmada IMF veri tabanından elde edilen ve 1985-2021 dönemlerine ait yıllık finansalgelişim endeks verileri kullanılmıştır. Çalışmada finansal yakınsama hipotezinin geçerliliği klasikAugmented Dickey ve Fuller (ADF) ve Fourier ADF (FADF) birim kök testleri ile test edilmiştir. Bununyanı sıra çalışmada wavelet dönüşümü kullanılarak ayrıştırılan serilere ADF ve FADF birim kök testleriyeniden uygulanarak sonuçlar kısa, orta ve uzun vadede değerlendirilmiştir. Çalışma sonuçlarına göre,orijinal serilerle yapılan testler sonucunda E7 ülkelerinde finansal yakınsama hipotezi kısmen geçerlibulunmuştur. Ayrıştırılmış serilerin sonuçlarına göre ise kısa vadede E7 ülkelerinin tamamında finansalyakınsama hipotezi geçerliyken, orta ve uzun dönemde kısmen geçerli bulunmuştur. Bu sonuçlar gelişmişülkelere nazaran E7 ülkelerinde finansal gelişim açısından farklılıklar bulunduğunu göstermekte ve buülkelerde finansal açıdan önemli politika değişikliklerinin gerçekleşmesi gerektiğini belirtmektedir.
KW  - Finansal Yakınsama
KW  - Finansal Gelişme
KW  - Wavelet Analizi
KW  - E7 Ülkeleri
N2  - The aim of this study is to test the financial convergence hypothesis in E7 countries (China,India, Brazil, Russia, Mexico, Indonesia and Turkey). To achieve this, the study assesses the convergenceof the financial development index of the E7 countries to that of the United States of America (USA).Annual data on the financial development index from the IMF database, covering 1985 to 2021, wereutilized. The analysis employs the traditional Augmented Dickey-Fuller (ADF) unit root test alongsidethe Fourier ADF (FADF) unit root test to evaluate the validity of the financial convergence hypothesis.Furthermore, ADF and FADF tests are re-administered to the data series that has been decomposedthrough wavelet transformation, with an analysis provided for short-, medium--, and long-term results.The findings indicate that, based on the original series of tests, the financial convergence hypothesis ispartially upheld in the E7 countries. Moreover, results obtained from the decomposed series demonstratethat this hypothesis is valid in the short term for all E7 nations while only partially valid in the medium and long term. These findings underline the disparities in financial development between the E7 countriesand developed nations, suggesting that substantial policy reforms in financial management are imperative for these countries.
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UR  - https://doi.org/10.17130/ijmeb.1538689
L1  - https://dergipark.org.tr/en/download/article-file/4169390
ER  -