Borsa Kapitalizasyonu, Ekonomik Büyüme, Ticaret Hacmi ve Banka Kredi Genişlemesinin Sürdürülebilir Gelişim Üzerindeki Etkisi: G7 Ülkelerinden Kanıtlar

Year 2025, Volume: 43 Issue: 1, 94 - 115, 26.03.2025

Cengizhan Karaca , İbrahim Halil Ekşi , Ahmet Şit

https://doi.org/10.17065/huniibf.1465279

Abstract

Bu çalışmanın amacı, G-7 Ülkelerinde Borsa kapitalizasyonu, ekonomik büyüme, ticaret hacmi ve banka kredilerindeki genişlemenin sürdürülebilir gelişim üzerindeki etkilerini araştırmaktır. Küresel zenginliğin %64’ünü temsil etmesi dolayısı ile örneklem ülke grubu olarak yalnızca G-7 Ülkeleri seçilmiştir. Çalışmanın ele aldığı dönem, 1990-2019 aralığını kapsamaktadır. Çalışmanın bağımlı değişkeni sürdürülebilir gelişim; bağımsız değişkenleri ise borsa kapitalizasyonu, kişi başı milli gelir, toplam ticaret hacmi ve dağıtılan yerel kredilerdir. Yöntem olarak Panel AMG Grup tahmincisi Dumitrescu ve Hurlin Panel Nedensellik teknikleri kullanılmıştır. Elde edilen bulgulara göre, ticaret hacmi ve sürdürülebilir gelişim arasında pozitif bir ilişki vardır. Ekonomik büyüme 4 ülkenin sürdürülebilir gelişimi negatif etkilerken, diğer ülkeler üzerinde herhangi bir etkiye sahip değildir. İlave olarak, ticaret hacminin 5 ülkenin sürdürülebilir gelişimine önemli bir katkı sunduğu, diğer ülkelerde ise herhangi bir etkisinin bulunmadığı gözlemlenmiştir. Banka kredilerindeki genişleme ise İtalya ve ABD’nin sürdürülebilir gelişimine negatif etki ederken Almanya’ya olumlu katkı sağlamakta, diğer ülkeler üzerinde herhangi bir etki meydana getirmemektedir. Ülkelerin sürdürülebilir gelişimlerini sağlamak için ticari piyasalarında daha etkin düzenlemeler yapması ve ticaret hacimlerini geliştirici politikalar geliştirmelidir

Keywords

Sürdürülebilir Gelişim, Borsa Kapitalizasyonu, Ekonomik Büyüme, G-7 Ülkeleri, Panel Veri Analizi

The Impact of Stock Market Capitalization, Economic Growth, Trade Valume, and Bank Credit Expansion on the Sustainable Development Index: Evidence from G7 Countries

Abstract

This study aims to investigate the impact of stock market capitalization, economic growth, trade volume, and the expansion of bank credits on the Sustainable Development Index in the G-7 countries. The sample group was exclusively selected as the G-7 countries due to their representation of 64% of global wealth. The period of the study spans from 1990 to 2019, with the Sustainable Development Index serving as the dependent variable. The independent variables include stock market capitalization, GDP - per capita, trade volume, and domestic credits to the private sector. Methodologically, the study employs the Panel AMG (Augmented Mean Group) estimator and the Dumitrescu-Hurlin Panel Causality tests. According to the findings, there is a positive relationship between trade volume and the Sustainable Development Index. While economic growth negatively affects the sustainable development index of 4 countries, it does not have any effect on other countries. Additionally, trade volume significantly contributes to the sustainable development of five countries, with no observed impact on the others. The expansion of domestic credits negatively influences the sustainable development of Italy and the USA, whereas it positively contributes to Germany, without affecting the other countries. To ensure sustainable development, countries should make more effective regulations in their commercial markets and develop policies that will increase their trade volumes.

Keywords

Sustainable Development, Stock Market Capitalization, Economic Growth, G-7 Countries, Panel Data Analysis

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