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Gelir Eşitsizliğinin Dış Borca Etkisi: Türkiye Örneği

Year 2024, , 200 - 218, 02.03.2024
https://doi.org/10.24988/ije.1321998

Abstract

Gelir eşitsizliği ve dış borç sorunu gelişmekte olan ülkeler için önem arz eden makroekonomik sorunların başında gelmekte ve birbiriyle ilişkili olduğu ifade edilmektedir. Bu çalışmada gelir eşitsizliğinin dış borçlar üzerindeki olası etkisi araştırılmıştır. Bu amaçla Türkiye ekonomisi ele alınmış ve 1989-2019 dönemi incelenmiştir. Çalışmada ARDL yöntemi kullanılmış ve uzun dönemde gelir eşitsizliğinin dış borçlar üzerindeki etkisinin anlamsız olduğu tespit edilmiştir. Ayrıca kısa dönemde de dış borçlar üzerinde gelir eşitsizliğinin bir etkisinin bulunmadığı belirlenmiştir. Çalışmada Hacker ve Hatemi (2010) nedensellik testine de başvurulmuş ve dış borç ile gelir eşitsizliği arasında bir nedensellik ilişkisine rastlanmamıştır. Bu durumda Türkiye’de gelir eşitsizliğinin ve dış borçların birbirinden etkilenmediği sonucuna varılabilir.

References

  • Akram, N. (2013). External debt and income inequality in Pakistan. Pakistan Business Review, 15(3), 368-385.
  • Akram, N., ve Hamid, A. (2016). Public Debt, Income Inequality and Macroeconomic Policies: Evidence from South Asian Countries. Pakistan Journal of Social Sciences, 36(1), 99-108.
  • Aksman, E. (2017). Do Poverty and Income Inequality Affect Public Debt?. Gospodarka Narodowa, 6(292), 79-93.
  • Alesina, A., ve Rodrik, D. (1994). Distributive Politics and Economic Growth. Quarterly Journal of Economics, 109, 465–490.
  • Arawatari, R., ve Ono, T. (2017). Inequality and Public Debt: A Positive Analysis. Review of International Economics, 25, 1155–1173.
  • Arslan, F.P. (2019). Public Debt and Income Inequality in Turkey. Journal of Research in Economics, 3(2), 91-109.
  • Azzimonti, M., De Francisco, E., ve Quadrini, V. (2014). Financial Globalization, Inequality, and The Rising Public Debt. American Economic Review, 104(8), 2267-2302.
  • Bartak, J., Jabłonski, L., ve Tomkiewicz, J. (2022). Does Income Inequality Explain Public Debt Change in OECD Countries?. International Review of Economics and Finance, 80, 211–224.
  • Batuo, M. E., Kararach, G., ve Malki, I. (2022). The Dynamics of Income Inequality in Africa: An Empirical Investigation on the Role of Macroeconomic and Institutional Forces. World Development, 157(105939), 1-14.
  • Bittencourt, M. (2015). Determinants of Government and External Debt: Evidence from the Young Democracies of South America. Emerging Markets Finance and Trade, 51(3), 463-472.
  • Bodea, C., Houle, C., ve Kim, H. (2021). Do Financial Crises Increase Income Inequality? World Development, 147,105635. https://doi.org/10.1016/J.WORLDDEV.2021.105635
  • Carrera, J., ve Vega, P. (2021). The Impact of Income Inequality on Public Debt. The Journal of Economic Asymmetries, 24 (e00216), 1-16.
  • Dickey, D.A. ve Fuller W.A (1981). Likelihood Ratio Statistics for Autoregressive Time Series with A Unit Root. Econometrica, 49 (4),1057- 1072.
  • Dünya Eşitsizlik Raporu (2022). https://wir2022.wid.world/www-site/uploads/2021/12/Summary_WorldInequalityReport2022_Turkish.pdf
  • Ertekin, Ş. (2018). Kamu Borçlarının Gelir Dağılımı Üzerine Olası Etkileri: OECD Ülkeleri Üzerine Panel Nedensellik Analizi. Yönetim ve Ekonomi Araştırmaları Dergisi, 16(4), 334-348.
  • Farid, A. (2017). How Can Pakistan Improve its Rising External Debt Situations?. The Journal of Humanities & Social Sciences, 25 (1), 11-26.
  • Galor, O. (2012). Inequality, Human Capital Formation and The Process of Development. IZA DP No. 6328. https://docs.iza.org/dp6328.pdf
  • Hacker, R.S., ve Hatemi-J., A. (2010). A Bootstrap Test for Causality with Endogenous Lag Length Choice- Theory and Application in Finance. Working Paper Series in Economics and Institutions of Innovation, 223, Royal Institute of Technology, CESIS. https://static.sys.kth.se/itm/wp/cesis/cesiswp223.pdf
  • Karlin, P. (2018), Income Inequality in OECD Countries with Increasing Public Debt and Varying Economic Performance, University of Vaasa, Vaasa, doi: 10.2169/naika.107.contents2
  • Larch, M. (2012). Fiscal Performance and Income Inequality: Are Unequal Societies More Deficit-Prone?. Kyklos, 65(1), 53–80.
  • Loko, B., Mlachila, M., Nallari, R., ve Kalonji, K. (2003). The Impact of External Indebtedness On Poverty in Low-Income Countries. IMF working paper No. 3/06. https://www.imf.org/external/pubs/ft/wp/2003/wp0361.pdf
  • Luo, W. (2020). Inequality and Government Debt: Evidence from OECD Panel Data. Economics Letters 186(108869), 1-4.
  • Mumuni, S., ve Abille, A.B. (2023). Do Trade Liberalization and External Debt Offset Income Inequality? New Evidence from Selected African Countries, 1-15. https://doi.org/10.21203/rs.3.rs-1929320/v1
  • Obiero, W.L., Topuz, S.G. (2022). Do Public and Internal Debt Cause Income Inequality? Evidence from Kenya, Journal of Economics. Finance and Administrative Science, 27(53), 124-138.
  • Persson, T., ve Tabellini, G. (1994). Is Inequality Harmful for Growth?: Theory and Evidence. American Economic Review, 84, 600–621.
  • Pesaran, M. H., Shin, Y., ve Smith, R. J. (2001). Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics, 16(3), 289-326.
  • Phillips, P.C. B ve Perron, P. (1988). Testing for a Unit Root in Time Series Regression. Biometrika, 75(2), 335 346.
  • Prechel, H. (1985). The Effects of Export, Public Debt, and Development on Income Inequality. The Sociological Quarterly, 26(2), 213-234.
  • Salti, N. (2015). Income Inequality and The Composition of Public Debt. Journal of Economic Studies, 42(5), 821-837.
  • Sanyal, P., ve Ehlen, M. (2017). The Interactions of Public Debt, Income Inequality and Economic Growth for U.S. States: A Bayesian NonParametric Analysis. Empirical Economics Review, 7(1), 57-101.
  • Sayed, A. (2020). Income Inequality and Public Debt: What Can Be Learned from The Lebanese Indebtedness?. Business and Economic Research, 10(4), 83-106.
  • Solt, F. (2020). Measuring Income Iequality Across Countries and Over Time: The Standardized World Income Inequality Database. Social Science Quarterly, 101(3),1183-1199.
  • Topuz, S.G. (2021). Türkiye’de Bütçe Açığı, Kamu İç Borcu ve Gelir Eşitsizliği İlişkisi. Optimum Ekonomi ve Yönetim Bilimleri Dergisi, 8(1), 75-90.
  • Topuz, S.G., Yıldırım, K. (2017). Gelir Eşitsizliğinin Ekonomik Büyüme Üzerindeki Etkisi. Anadolu Üniversitesi Sosyal Bilimler Dergisi, 17(3), 57-72.
  • Wagle, U. R. (2007). Are Economic Liberalization and Equality Compatible? Evidence from South Asia. World Development, 35(11), 1836–1857.
  • WDI (2022). World Development Indicators. https://databank.worldbank.org/source/world-development-indicators.
  • Woo, J. (2003). Economic, Political, and Institutional Determinants of Public Deficits. Journal of Public Economics, 2003(87), 387–426.
  • You, J., ve Dutt, A.K. (1996). Government Debt, Income Distribution and Growth. Cambridge Journal of Economics, 20(3), 335-351.

The Effect of Income Inequality on External Debt: The Case of Türkiye

Year 2024, , 200 - 218, 02.03.2024
https://doi.org/10.24988/ije.1321998

Abstract

Income inequality and external debt are among the most important macroeconomic problems for developing countries, and it is stated that they are interrelated. In this study, the possible impacts of income inequality on external debt were investigated. For this purpose, the Turkish economy was discussed and examined during the period 1989-2019. In the study, the ARDL method was used, and it was determined that in the long-run, the effect of income inequality on external debt is insignificant. In addition, it was also determined that income inequality has no effect on external debt in the short run. In the study, Hacker and Hatemi (2010) causality test was also applied, and the results showed that there is no causal relationship between external debt and income inequality. In this case, it can be concluded that income inequality and external debt are not affected by each other in Türkiye.

References

  • Akram, N. (2013). External debt and income inequality in Pakistan. Pakistan Business Review, 15(3), 368-385.
  • Akram, N., ve Hamid, A. (2016). Public Debt, Income Inequality and Macroeconomic Policies: Evidence from South Asian Countries. Pakistan Journal of Social Sciences, 36(1), 99-108.
  • Aksman, E. (2017). Do Poverty and Income Inequality Affect Public Debt?. Gospodarka Narodowa, 6(292), 79-93.
  • Alesina, A., ve Rodrik, D. (1994). Distributive Politics and Economic Growth. Quarterly Journal of Economics, 109, 465–490.
  • Arawatari, R., ve Ono, T. (2017). Inequality and Public Debt: A Positive Analysis. Review of International Economics, 25, 1155–1173.
  • Arslan, F.P. (2019). Public Debt and Income Inequality in Turkey. Journal of Research in Economics, 3(2), 91-109.
  • Azzimonti, M., De Francisco, E., ve Quadrini, V. (2014). Financial Globalization, Inequality, and The Rising Public Debt. American Economic Review, 104(8), 2267-2302.
  • Bartak, J., Jabłonski, L., ve Tomkiewicz, J. (2022). Does Income Inequality Explain Public Debt Change in OECD Countries?. International Review of Economics and Finance, 80, 211–224.
  • Batuo, M. E., Kararach, G., ve Malki, I. (2022). The Dynamics of Income Inequality in Africa: An Empirical Investigation on the Role of Macroeconomic and Institutional Forces. World Development, 157(105939), 1-14.
  • Bittencourt, M. (2015). Determinants of Government and External Debt: Evidence from the Young Democracies of South America. Emerging Markets Finance and Trade, 51(3), 463-472.
  • Bodea, C., Houle, C., ve Kim, H. (2021). Do Financial Crises Increase Income Inequality? World Development, 147,105635. https://doi.org/10.1016/J.WORLDDEV.2021.105635
  • Carrera, J., ve Vega, P. (2021). The Impact of Income Inequality on Public Debt. The Journal of Economic Asymmetries, 24 (e00216), 1-16.
  • Dickey, D.A. ve Fuller W.A (1981). Likelihood Ratio Statistics for Autoregressive Time Series with A Unit Root. Econometrica, 49 (4),1057- 1072.
  • Dünya Eşitsizlik Raporu (2022). https://wir2022.wid.world/www-site/uploads/2021/12/Summary_WorldInequalityReport2022_Turkish.pdf
  • Ertekin, Ş. (2018). Kamu Borçlarının Gelir Dağılımı Üzerine Olası Etkileri: OECD Ülkeleri Üzerine Panel Nedensellik Analizi. Yönetim ve Ekonomi Araştırmaları Dergisi, 16(4), 334-348.
  • Farid, A. (2017). How Can Pakistan Improve its Rising External Debt Situations?. The Journal of Humanities & Social Sciences, 25 (1), 11-26.
  • Galor, O. (2012). Inequality, Human Capital Formation and The Process of Development. IZA DP No. 6328. https://docs.iza.org/dp6328.pdf
  • Hacker, R.S., ve Hatemi-J., A. (2010). A Bootstrap Test for Causality with Endogenous Lag Length Choice- Theory and Application in Finance. Working Paper Series in Economics and Institutions of Innovation, 223, Royal Institute of Technology, CESIS. https://static.sys.kth.se/itm/wp/cesis/cesiswp223.pdf
  • Karlin, P. (2018), Income Inequality in OECD Countries with Increasing Public Debt and Varying Economic Performance, University of Vaasa, Vaasa, doi: 10.2169/naika.107.contents2
  • Larch, M. (2012). Fiscal Performance and Income Inequality: Are Unequal Societies More Deficit-Prone?. Kyklos, 65(1), 53–80.
  • Loko, B., Mlachila, M., Nallari, R., ve Kalonji, K. (2003). The Impact of External Indebtedness On Poverty in Low-Income Countries. IMF working paper No. 3/06. https://www.imf.org/external/pubs/ft/wp/2003/wp0361.pdf
  • Luo, W. (2020). Inequality and Government Debt: Evidence from OECD Panel Data. Economics Letters 186(108869), 1-4.
  • Mumuni, S., ve Abille, A.B. (2023). Do Trade Liberalization and External Debt Offset Income Inequality? New Evidence from Selected African Countries, 1-15. https://doi.org/10.21203/rs.3.rs-1929320/v1
  • Obiero, W.L., Topuz, S.G. (2022). Do Public and Internal Debt Cause Income Inequality? Evidence from Kenya, Journal of Economics. Finance and Administrative Science, 27(53), 124-138.
  • Persson, T., ve Tabellini, G. (1994). Is Inequality Harmful for Growth?: Theory and Evidence. American Economic Review, 84, 600–621.
  • Pesaran, M. H., Shin, Y., ve Smith, R. J. (2001). Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics, 16(3), 289-326.
  • Phillips, P.C. B ve Perron, P. (1988). Testing for a Unit Root in Time Series Regression. Biometrika, 75(2), 335 346.
  • Prechel, H. (1985). The Effects of Export, Public Debt, and Development on Income Inequality. The Sociological Quarterly, 26(2), 213-234.
  • Salti, N. (2015). Income Inequality and The Composition of Public Debt. Journal of Economic Studies, 42(5), 821-837.
  • Sanyal, P., ve Ehlen, M. (2017). The Interactions of Public Debt, Income Inequality and Economic Growth for U.S. States: A Bayesian NonParametric Analysis. Empirical Economics Review, 7(1), 57-101.
  • Sayed, A. (2020). Income Inequality and Public Debt: What Can Be Learned from The Lebanese Indebtedness?. Business and Economic Research, 10(4), 83-106.
  • Solt, F. (2020). Measuring Income Iequality Across Countries and Over Time: The Standardized World Income Inequality Database. Social Science Quarterly, 101(3),1183-1199.
  • Topuz, S.G. (2021). Türkiye’de Bütçe Açığı, Kamu İç Borcu ve Gelir Eşitsizliği İlişkisi. Optimum Ekonomi ve Yönetim Bilimleri Dergisi, 8(1), 75-90.
  • Topuz, S.G., Yıldırım, K. (2017). Gelir Eşitsizliğinin Ekonomik Büyüme Üzerindeki Etkisi. Anadolu Üniversitesi Sosyal Bilimler Dergisi, 17(3), 57-72.
  • Wagle, U. R. (2007). Are Economic Liberalization and Equality Compatible? Evidence from South Asia. World Development, 35(11), 1836–1857.
  • WDI (2022). World Development Indicators. https://databank.worldbank.org/source/world-development-indicators.
  • Woo, J. (2003). Economic, Political, and Institutional Determinants of Public Deficits. Journal of Public Economics, 2003(87), 387–426.
  • You, J., ve Dutt, A.K. (1996). Government Debt, Income Distribution and Growth. Cambridge Journal of Economics, 20(3), 335-351.
There are 38 citations in total.

Details

Primary Language Turkish
Subjects Development Economics - Macro
Journal Section Articles
Authors

Ayşe Arı 0000-0002-8485-5932

Early Pub Date February 9, 2024
Publication Date March 2, 2024
Submission Date July 3, 2023
Acceptance Date November 8, 2023
Published in Issue Year 2024

Cite

APA Arı, A. (2024). Gelir Eşitsizliğinin Dış Borca Etkisi: Türkiye Örneği. İzmir İktisat Dergisi, 39(1), 200-218. https://doi.org/10.24988/ije.1321998

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