Türkiye’de Finansal Gelişim ve Gelir Dağılımı İlişkisi: Finansal Kuznets Eğrisi

Abstract

Bu çalışmada, Türkiye’de 1977-2013 dönemi için Finansal Kuznets Eğrisi hipotezi geçerliliğinin incelenmesi amaçlanmıştır. Bu amaç doğrultusunda reel GSYH, finansal gelişim, kamu harcamaları ve enflasyonun Gini katsayısı üzerindeki etkileri ARDL sınır testi yaklaşımı ve VECM Granger nedensellik yöntemi ile incelenmiştir. Çalışmada elde edilen sonuçlara göre kamu harcamalarındaki ve enflasyon oranındaki artışın gelir eşitsizliğini arttırdığı görülmüştür. Buna karşın reel GSYH’daki artışın gelir dağılımını olumlu yönde etkilediği sonucuna ulaşılmıştır. Ayrıca finansal gelişim katsayısının pozitif, finansal gelişimin karesini ifade eden değişken katsayısının negatif işaretli olduğu dolayısıyla ters-U şeklindeki Finansal Kuznets Eğrisi hipotezinin desteklendiği görülmüştür.

Keywords

• Finansal Kuznets, Gelir Dağılımı, ARDL Sınır Testi

The Relationship between Financial Development and Income Distribution: Financial Kuznets Curve

Abstract

In this paper, it is aimed to investigate the validity of Financial Kuznets Curve hypothesis for the period from 1977 to 2013 in Turkey. For this purpose, the effect of reel GDP, financial development, government expenditures and inflation on Gini coefficient is examined using with ARDL bound test approach and VECM Granger causality approach. The results of the study show that increased government expenditures and inflation rate leads to increase in income inequality. On the other hand, increased reel GDP leads to decrease in income inequality. Furthermore, it is concluded that the coefficient of financial development is positive and the coefficient of the square of financial development is negative. Thus the inverse U-shaped Financial Kuznets Curve hypothesis is supported in Turkey

Keywords

• Financial Kuznets, Income Distribution, ARDL Bounds Test

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