Ekonomik Gelişme, Bankacılık Sektör Performansı ve Finansal Küreselleşme Arasındaki İlişki: OECD Ülkeleri Örneği

Abstract

Bu çalışmanın amacı, 1990-2018 döneminde seçilen 11 OECD ülkenin ekonomik gelişmesi, bankacılık sektör performansı ve finansal küreselleşme arasındaki ilişkiyi açıklayıcı değişken olarak yatırımları ve ticari açıklığı da entegre ederek incelemektir. Çalışmada değişkenler arasında eşbütünleşme varlığı Pedroni, Kao and Westerlund testleriyle incelenmekte ve uzun dönem katsayıları Driscoll-Kraay standard errors tahmincileriyle saptanmaktadır. Son olarak, değişkenler arasındaki nedensellik Dumitrescu-Hurlin panel bootstrap nedensellik testi sınanmaktadır. Ampirik bulgular, değişkenler arasında eşbütünleşme varlığını göstermektedir. Bankacılık sektörünün performansı, finansal küreselleşme ve yatırımların ekonomik gelişmeyi istatistiksel olarak anlamlı bir şekilde pozitif yönde etkilerken ticari açıklığın da anlamsız bir şekilde pozitif yönde etkilemektedir. Bulgular, ekonomik gelişme ile hem bankacılık sektörünün performansı ve yatırımlar arasında çift yönlü nedensellik ilişkisi olduğunu ve ticari açıklıktan ekonomik gelişmeye doğru uzanan tek yönlü nedensellik ilişkisi olduğunu göstermektedir. Dolayısıyla çalışma bulguları hem politika yapıcılar hem de gelecekteki çalışmalar için politik önerilerde bulunmaktadır.

Keywords

• Bankacılık Sektör Gelişimi
• Ekonomik Gelişme
• Finansal Küreselleşme
• Panel Veri
• Driscoll-Kraay

The Relationship Between Economic Development, Banking Sector Performance and Financial Globalization: Evidence from OECD Countries

Abstract

The aim of this study is to examine the relationship between the economic development of the 11 OECD countries selected in the period 1990-2018, banking sector performance and financial globalization by integrating investments and trade openness as explanatory variables. The cointegration between variables is investigated by Pedroni, Kao and Westerlund tests and the long-term coefficients are determined by Driscoll-Kraay standard errors forecasters. Finally, the causality relationship between variables is tested in the Dumitrescu-Hurlin panel bootstrap approach. Empirical findings indicate the existence of cointegration between variables. The banking sector performance, financial globalization and investments have a statistically significant positive effect on economic development, while the trade openness has a meaninglessly positive effect. They also indicate a two-way causality between the economic development and banking sector performance and investments, and a one-way causality running from trade openness to economic development. Therefore, the findings make political recommendations for both policymakers and future studies.

Keywords

• Banking Sector Performance
• Economic Development
• Financial Globalization
• Panel Data
• Driscoll-Kraay

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