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THE RELATIONSHIP BETWEEN FINANCIAL DEEPENING AND GROWTH IN EMERGING MARKETS: A PANEL DATA ANALYSIS

Year 2010, Volume: 6 Issue: 12, 95 - 119, 01.12.2010

Nurettin Öztürk , Salih Barışık Havva Kılıç Darıcı

Abstract

In this study the effects of financial deepening on growth are tested using panel data analysis. For this purpose, the data, which cover the 1992-2007 period from 10 different countries, including Turkey, are used. The results support the hypothesis that financial deepening contributes positively to economic growth through more efficient use of funds. Bank credits/GDP, M3/GDP and the ratio of market capitalization, which are among the measures of financial deepening, affect per capita income positively, supporting the theory. On the other hand, M2/GDP and private sector credit/GDP ratios affect growth negatively, contradicting the theory

Keywords

Financial Deepening Economic Growth Panel Data Analysis

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GELİŞMEKTE OLAN PİYASALARDA FİNANSAL DERİNLEŞME VE BÜYÜME İLİŞKİSİ: PANEL VERİ ANALİZİ

Year 2010, Volume: 6 Issue: 12, 95 - 119, 01.12.2010

Nurettin Öztürk , Salih Barışık Havva Kılıç Darıcı

Abstract

Bu çalışmada finansal derinleşmenin büyüme üzerindeki etkileri test edilmiştir. Bu amaçla verilerine ulaşılabilen Türkiye’nin de dahil edildiği 10 gelişmekte olan piyasa için 1992–2007 dönemini kapsayan ve panel veri tekniğini kullanan analiz yapılmıştır. Analiz sonuçları, “finansal sistemin gelişmesi ve derinleşmesiyle ekonomide yaratılan fonların daha etkin kullanımı sonucu ekonomik büyümenin artacağı” öngörüsünü desteklemiştir. Finansal derinleşme ölçülerinden banka kredileri/GSYİH, M3/GSYİH ve piyasa kapitalizasyon oranlarının kişi başına geliri pozitif etkilemesi teoriyi desteklemektedir. M2/GSYİH ve özel sektöre verilen krediler/ GSYİH oranının büyümeyi negatif etkilediği sonucu teorik tutarlılıkla çelişmektedir.

Keywords

Finansal Derinleşme Ekonomik Büyüme Panel Veri Analizi

References

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Details

Primary Language Turkish
Journal Section Research Article
Authors

Nurettin Öztürk

Salih Barışık This is me

Havva Kılıç Darıcı This is me

Publication Date December 1, 2010
Published in Issue Year 2010 Volume: 6 Issue: 12

Cite

APA Öztürk, N., Barışık, S., & Darıcı, H. K. (2010). GELİŞMEKTE OLAN PİYASALARDA FİNANSAL DERİNLEŞME VE BÜYÜME İLİŞKİSİ: PANEL VERİ ANALİZİ. Uluslararası Yönetim İktisat Ve İşletme Dergisi, 6(12), 95-119.