THE IMPACT OF LABOUR MARKET REGULATIONS ON THE MACROECONOMIC PERFORMANCE OF TÜRKİYE: AN ARDL BOUNDS TEST APPROACH

Year 2024, Volume: 25 Issue: 3, 498 - 517, 29.09.2024

Ayça Sarıalioğlu Hayali , Djallel Aımar , Mohammad Mansoor Lodın

https://doi.org/10.53443/anadoluibfd.1443334

Abstract

The relationship between labour market regulations and macroeconomic performance is accepted as a complex and controversial issue in the economics literature. The research investigates the effect of labour market regulations on Türkiye’s macroeconomic performance during the period of 1980–2021, using the Labour Market Regulations Index (LMRI), which reflects the flexibility or rigidity of the labour market regulations and based on seven dimensions, and the Macroeconomic Performance Index (MPI) measured by the Magic Hypercube (MH) method, incorporating four aspects of economic performance which are economic growth, current account, inflation, and unemployment. The research employs the Autoregressive Distributed Lag (ARDL) model to examine the existence and direction of cointegration relationship between LMRI and MPI and finds out that there is a cointegration between them. Still, when checked in detail, it seems that labour market regulations do not have a statistically important long-term effect on Türkiye’s macroeconomic performance.

Keywords

Market Regulations, Macroeconomic Performance, ARDL, Türkiye

Project Number

BULUNMAMAKTADIR.

İŞGÜCÜ PİYASASI DÜZENLEMELERİNİN TÜRKİYE'NİN MAKROEKONOMİK PERFORMANSINA ETKİSİ: ARDL SINIR TESTİ YAKLAŞIMI

Abstract

İşgücü piyasası düzenlemeleri ile makroekonomik performans arasındaki ilişki, ekonomi literatüründe karmaşık ve tartışmalı bir konu olarak kabul edilir. Araştırma, Türkiye'nin 1980-2021 döneminde işgücü piyasası düzenlemelerinin makroekonomik performansı üzerindeki etkisini incelemekte; bunu yaparken, işgücü piyasası düzenlemelerinin esnekliğini veya katılığını yansıtan ve yedi boyutta temellendirilen İşgücü Piyasası Düzenlemeleri Endeksi (İPDE) ile ekonomik performansın ekonomik büyüme, cari hesap, enflasyon ve işsizlik olan dört yönünü içeren ve Sihirli Hiperküp (SH) yöntemi ile ölçülen Makroekonomik Performans Endeksi'ni (MPE) kullanmaktadır. Araştırma, İPDE ve MPE arasındaki eşbütünleşme ilişkisinin varlığını ve yönünü incelemek için Otoregresif Dağıtılmış Gecikme (ARDL) modelini kullanmakta ve bu iki endeks arasında bir eşbütünleşme olduğunu bulmaktadır. Ancak daha detaylı bir inceleme yapıldığında, işgücü piyasası düzenlemelerinin Türkiye'nin makroekonomik performansı üzerinde uzun vadeli istatistiksel olarak anlamlı bir etkisinin olmadığı görülmektedir.

Keywords

İşgücü Piyasası Düzenlemeleri, Makroekonomik Performans, ARDL, Türkiye

Ethical Statement

GEREKMEMEKTEDİR.

Supporting Institution

BULUNMAMAKTADIR.

Project Number

BULUNMAMAKTADIR.

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