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THE RELATIONSHIP TO TRADE OPENNESS, FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH IN COUNTRIES WITH DIFFERENT INCOME LEVELS

Year 2020, 2020 Special Issue, 148 - 170, 18.12.2020

Şeyma Yılmaz Kuşçuoğlu Zeki Yılmaz

https://doi.org/10.21733/ibad.803730
Cited By: 3

Abstract

Today, with the effect of globalization, trade openness and financial development have become a precondition for economic development. Some of the basic conditions to ensure economic growth in countries with insufficient capital accumulation are to increase foreign trade and financial development in these countries. In this study, the relationship between trade openness, financial development and economic growth was examined for 86 countries, which were divided into three groups (high, middle and low income) according to the World Bank income group classification between 1990 and 2017. In the study, panel ARDL / PMG estimators were used to examine these relationships. According to the findings obtained from empirical analysis, trade openness affects real GDP positively in all income-level countries. Financial development positively affects real GDP in middle and high income countries, while it affects negatively in low income countries. The results also show that human capital and gross capital accumulation positively affect real GDP in all countries. While the labor variable positively affects the real GDP in middle and high income countries, a statistically significant relationship was not found between labor force and real GDP for low income countries.These findings from the study will shed light on new studies where financial development in low-income countries should be examined separately.

Keywords

Trade Openness Financial Development Cobb-Douglas Production Function Panel ARDL

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Farklı Gelir Düzeyindeki Ülkelerde Ticari Açıklık, Finansal Gelişme Ve Ekonomik Büyüme İlişkisi

Year 2020, 2020 Special Issue, 148 - 170, 18.12.2020

Şeyma Yılmaz Kuşçuoğlu Zeki Yılmaz

https://doi.org/10.21733/ibad.803730
Cited By: 3

Abstract

Günümüzde küreselleşmenin etkisiyle ticari açıklık ve finansal gelişme ekonomik gelişmenin ön koşulu haline gelmiştir. Sermaye birikimi yetersiz olan ülkelerde ekonomik büyümeyi sağlamanın temel koşullardan bazıları da bu ülkelerde dış ticaret ve finansal gelişimin arttırılmasıdır. Bu çalışmada, 1990-2017 yılları arasında Dünya Bankası’nın gelir grubu sınıflandırmasına göre üç gruba (yüksek, orta ve düşük gelir) ayrılmış 86 ülke için ticari açıklık, finansal gelişme ve ekonomik büyüme ilişkisi incelenmiştir. Çalışmada söz konusu ilişkileri incelemek için panel ARDL/PMG tahmincileri kullanılmıştır. Ampirik analizden elde edilen bulgulara göre, ticari açıklık tüm gelir düzeyindeki ülkelerde reel GSYİH’yı pozitif yönde etkilemektedir. Finansal gelişme ise orta ve yüksek gelirli ülkelerde reel GSYİH’yı pozitif yönde etkilerken, düşük gelirli ülkelerde negatif yönde etkilemektedir. Sonuçlar aynı zamanda beşeri sermaye ve brüt sermaye birikiminin tüm ülkelerde reel GSYİH’yı pozitif yönde etkilediğini göstermektedir. İş gücü değişkeni ise orta ve yüksek gelirli ülkelerde reel GSYİH’yı pozitif etkilerken, düşük gelirli ülkeler için iş gücü ile reel GSYİH arasında istatistiksel olarak anlamlı bir ilişki bulunamamıştır. Çalışmadan elde edilen bu bulgular, düşük gelirli ülkelerde finansal gelişmenin ayrıca incelenmesi gerektiği yeni çalışmalara ışık tutacaktır.

Keywords

Ticari açıklık Finansal gelişme Cobb-Douglas Üretim Fonksiyonu Panel ARDL

References

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There are 103 citations in total.

Details

Primary Language Turkish
Journal Section Original Articles
Authors

Şeyma Yılmaz Kuşçuoğlu 0000-0002-2738-2032

Zeki Yılmaz 0000-0001-7056-2242

Publication Date December 18, 2020
Acceptance Date October 14, 2020
Published in Issue Year 2020 2020 Special Issue

Cite

APA Yılmaz Kuşçuoğlu, Ş., & Yılmaz, Z. (2020). Farklı Gelir Düzeyindeki Ülkelerde Ticari Açıklık, Finansal Gelişme Ve Ekonomik Büyüme İlişkisi. IBAD Sosyal Bilimler Dergisi148-170. https://doi.org/10.21733/ibad.803730

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