Determinants of Domestic Savings in Turkey

Abstract

Domestic savings are the most crucial sources of finance for sustainable economic growth and development. It is critical, especially for developing countries to identify the reasons behind the inefficiency of the domestic economy and the factors that determine the domestic savings. This study aims to determine the factors affecting domestic savings in Turkey over the period 1979-2017. Five independent variables consisting of monetary, financial and demographic aspects are utilized as determinants of domestic savings in Turkey in accordance with the international literature. Obtained results reveal that the GDP per capita and bank deposit interest rate have a positive impact on savings, and inflation and public spending have a negative impact on savings; whereas urbanization rate has no statistically significant effect on savings. 

Keywords

• Domestic Savings,Cointegration,Turkey

Türkiye’deki Yurtiçi Tasarrufların Belirleyicileri

Abstract

Sürdürülebilir ekonomik büyümenin ve kalkınmanın en önemli finansman kaynağı yurtiçi tasarruflardır. Özellikle gelişmekte olan ülkeler için yurtiçi tasarruflardaki yetersizliğin nedenlerinin ve yurtiçi tasarrufları belirleyen faktörlerin neler olduğunun ortaya konulması oldukça önemlidir. Bu çalışmada Türkiye’de 1979-2017 döneminde yurtiçi tasarrufları etkileyen değişkenlerin belirlenmesi amaçlanmıştır. Uluslararası literatüre uygun olarak Türkiye’de yurtiçi tasarrufların belirleyicileri olarak parasal, mali ve demografik değişkenlerden oluşan beş bağımsız değişken kullanılmıştır. Elde edilen sonuçlar; kişi başına GSYİH ve mevduat faiz oranının tasarrufları pozitif yönde, enflasyon ve kamu harcamalarının tasarrufları negatif yönde etkilediğini; kentleşme oranının ise tasarruflar üzerinde istatistiki olarak anlamlı bir etkisinin olmadığını göstermiştir.

Keywords

• Yurtiçi Tasarruflar,Eşbütünleşme,Türkiye

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