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ENFLASYON VE EKONOMİK BÜYÜME: OECD ÜLKELERİ İÇİN DİNAMİK PANEL EŞİK ETKİ ANALİZİ

Year 2019, Volume: 15 Issue: 3, 629 - 648, 01.10.2019
https://doi.org/10.17130/ijmeb.2019355042

Abstract

Bu çalışmada Hansen 1999 tarafından geliştirilen panel eşik değer analizi kullanılarak 27 OECD ülkesinde 2000-2014 dönemi için enflasyon ile ekonomik büyüme arasındaki ilişkinin doğrusal olup olmadığının tespit edilmesi amaçlanmıştır. Elde edilen bulgular, enflasyon ile ekonomik büyüme arasında doğrusal bir ilişki olmadığına ve enflasyon için tek eşik değer bulunduğuna dair güçlü kanıtlar sunmaktadır. Bu sonuç, enflasyon oranlarına bağlı olarak ekonomik büyümenin farklı şekillerde etkilenebileceğini göstermektedir. Analizde incelenen ülke grubu için enflasyon oranı %3,286 seviyesinin üzerine çıktığında; enflasyon, ekonomik büyümeyi negatif etkilerken bu seviyenin altında ise etki tersine dönmektedir. Bu yüzden OECD ülkelerinde yüksek enflasyona neden olabilecek politikalardan vazgeçilmeli ve politika yapıcıların öncelikli hedefi fiyat istikrarı olmalıdır.

References

  • Abou-Ali, H. & Kheir-El-Din, H. (2009). Inflation and economic growth in Egypt: Is there a threshold effect?. Middle East Development Journal, 1(1), 59-78.
  • Ağır, H. & Tıraş, H.H. (2018). Sağlık harcamaları ile ekonomik büyüme ilişkisinin nedensellik analizi: AB örneği. Cappadocia Journal Of History and Social Sciences, 11, 211-221.
  • Andres, J. & Hernando, I. (1997). Does inflation harm economic growth?. Evidence for the OECD. NBER Working Paper, No:6062.
  • Artan, S. (2006). Gelişmiş ve gelişmekte olan ülkelerde enflasyon ve büyüme: Yatay-kesit ve panel veri analizi. İktisat, İşletme ve Finans, 21(239), 108-124.
  • Aydın C., Esen Ö., & Bayrak M. (2016). Inflation and economic growth: A dynamic panel threshold analysis for Turkish Republics in transition process. Procedia-Social and Behavioral Sciences, 229, 196-205.
  • Badri, A. K., & Badri, S. K. (2016). Health spending and economic growth in selected OECD countries, American Journal of Clinical Neurology and Neurosurgery, 2(1), 5-9.
  • Bakare, A. (2011). A theoretical analysis of capital formation and growth in Nigeria. Far East Journal of Psychology and Business, 3(1), 11-24.
  • Baltagi, B. H. (2013). Econometric analysis of panel data (fifth edition). West Sussex: John Wiley and Sons.
  • Barro, R. J. (1991). Economic growth in a cross section of countries. The Quarterly Journal of Economics, 106(2), 407-443.
  • Barro, R. J. (1995). Inflation and economic growth. NBER Working Paper, No:5326.
  • Bawa, S. & Abdullahi, I. S. (2012). Threshold effect of inflation on economic growth in Nigeria. CBN Journal of Applied Statistics, 3(1), 43-63.
  • Berber, M. & Artan, S. (2004). Enflasyon ve ekonomik büyüme ilişkisi: Türkiye örneği. Tartışma Metni. Türkiye Ekonomi Kurumu. Yayın No: 2004/21.
  • Bloom, D.E. & Canning, D. (2000). The health and wealth of nations. Science, 287(5456), 1207-1209.
  • Bruno, M. & Easterly, W. (1998). Inflation crises and long-run growth. Journal of Monetary Economics, 41 (1), 3-26.
  • Cameron, N., Hum, D., & Simpson, W. (1996). Stylized facts and stylized illusions: Inflation and productivity revisited. Canadian Journal of Economics, 29(1), 152-162.
  • Chan, B. K. S. (1993). Consistency and limiting distribution of the least squares estimator of a threshold autoregressive model. The Annals of Statistics, 21, 520-533.
  • Chigeto, A. D. &Haile, M. A. (2017). Inflation-growth nexus a dynamic panel threshold analysis for East African economies. Developing Country Studies, 7(12), 1-9.
  • Chowdhury, A. (2002). Does inflation affect economic growth? The relevance of the debate for Indonesia. Journal of Asia Pacific Economy, 7(1), 20-34.
  • Çetintaş, H. (2003). Türkiye’de enflasyon ve büyüme. İ.Ü. Siyasal Bilgiler Fakültesi Dergisi, 28, 141- 152.
  • Dammak, T. B. & Helali, K. (2017). Threshold effects on the relationship between inflation rate and economic growth in Tunisia. International Economic Journal, 31(2), 310-325.
  • Danladi, J. D. (2013). Inflation and sustainable output performance in the West African sub-region: The threshold effect. American Journal of Economics, 3(6), 252-259.
  • De Long, B. & Summers, L. (1991). Equipment investment and economic growth. NBER Working Paper Series, No: 3515.
  • Dickey, D. A. & Fuller, W. A. (1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American Statistical Association, 74, 427-431.
  • Drukker, D., Pedro, G. P. & Paula. H. V. (2005). Threshold effects in the relationship between inflation and growth: A new panel-data approach. MPRA Working Paper, No:38225.
  • Eggoh J. C. & Khan M. (2014). On the nonlinear relationship between inflation and economic growth. Research in Economics, 68(2), 133-143.
  • Erbaykal, E. & Okuyan, H. A. (2008). Does inflation depress economic growth? Evidence from Turkey. International Research Journal of Finance and Economics, 17, 40-48.
  • Fischer, S. (1993). The role of macroeconomic factors in growth. Journal of Monetary Economics, 32, 485-512.
  • Fölster, S. & Henrekson, M. (2001). Growth effects of government expenditure and taxation in rich countries. European Economic Review, 45, 1501-1520.
  • González, A., Teräsvirta, T. & Dijk, D. V. (2005). Panel smooth transition regression models. Quantitative Fınance Research Centre, Research Paper 165.
  • Gwartney, J., Holcombe, R., & Lawson, R. (1998). The scope of government and the wealth of nations. Cato Journal, 18(2), 163-190.
  • Gylfason, T. (1991). Inflation, growth, and external debt: A view of the landscape. The World Economy, 14, 279-298.
  • Gylfason, T. & Herbertsson, T. (2001). Does inflation matter for growth?. Japan and the World Economy, 13, 405-428.
  • Hansen, B. E. (1996). Inference when a nuisance parameter is not identified under the null hypothesis. Econometrica, 64, 413-430.
  • Hansen, B. E. (1999). Threshold effects in non-dynamic panels: Estimation, testing, and inference. Journal of Econometrics, 93, 345-368.
  • Hansen, B. E. (2000). Sample splitting and threshold estimation. Econometrica, 68(3), 575-603.
  • Hansen, B. E. (2001). The new econometrics of structural change: Dating breaks in U.S. labor productivity. Journal of Economic Perspectives, 15, 117-128.
  • Hasanov, F. (2010). Relationship between inflation and economic growth in Azerbaijani economy. Is there any threshold effect?. Asian Journal of Business and Management Sciences, 1(1), 1-11.
  • Ibarra, R. & Trupkin, D. (2016). Reexamining the relationship between inflation and growth: Do institutions matter in developing countries?. Economic Modelling, 52, 332-351.
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115, 53-74.
  • Keho, Y. (2017). The impact of trade openness on economic growth: The case of Cote d’Ivoire. Cogent, Economics & Finance, 5(1), 1-14.
  • Khan, M. S. & Senhadji, A. S. (2001). Threshold effects in the relationship between inflation and growth. Technical Report, IMF Staff Papers, No:48.
  • Kormendi, R. C. & Meguire, P. G. (1985). Macroeconomic determinants of growth: Cross-Country evidence. Journal of Monetary Economics, 16(2), 141-163.
  • Kremer S., Bick, A., & Nautz, D. (2009). Inflation and growth: New evidence from a dynamic panel threshold analysis. SFB 649 Discussion Paper.
  • Kremer S., Bick, A., & Nautz, D. (2013). Inflation and growth: New evidence from a dynamic panel threshold analysis. Empirical Economics, 44, 861-878.
  • Landau, D. (1983). Government expenditures and economic growth: A cross-country study. Southern Economic Journal, 49, 783-792.
  • Landau, D. (1986). Government and economic growth in the less developed countries: An empirical study for 1960-1980. Economic Development and Cultural Change, 35, 35-75.
  • Lee, C. C., & Wong, S. Y. (2005). Inflationary threshold effects in the relationship between financial development and economic growth: Evidence from Taiwan and Japan, Journal of Economic Development, 30(1), 49-69.
  • Levin, A., Lin, C. F., & Chu C. S. J. (2002). Unit root tests in panel data: Asymptotic and finite-sample properties. Journal of Econometrics, 108, 1-24.
  • Lucas, R. E. (1988). On the mechanics of economic development. Journal of Monetary Economics, 22, 3-42.
  • Mallik, G. & Chowdhury A. (2001). Inflation and economic growth: Evidence from four South Asian countries. Asia-Pasific Development Journal, 8 (1), 123-135.
  • Mundell, R. A. (1963). Inflation and real interest. Journal of Political Economy, 71, 280-283.
  • Munir, Q., Mansur, K., & Furuoka, F. (2009). Inflation and economic growth in Malaysia: A threshold regression approach. ASEAN Economic Bulletin, 26(2), 180-193.
  • Ncanywa, T. & Makhenyane, L. (2016). Can investment activities in the form of capital formation influence economic growth in South Africa?. SAAPAM Limpopo Chapter 5th Annual Conference Proceedings, 270-279.
  • Ndoricimpa, A. (2017). Threshold effects of inflation on economic growth: Is Africa different?, International Economic Journal, 31(4), 599-620.
  • Nguyena, T. Q. & To, N. K. (2017). Threshold effect in the relationship between foreign direct investment and economic growth: Evidence from Asean countries. Asia Pacific Journal of Advanced Business and Social Studies (APJABSS), 3(1), 32-45.
  • Omay, T. & Kan, E.O. (2010). Re-examining the threshold effects in the inflation-growth nexus with cross-sectionally dependent non-linear panel: Evidence from six industrialized economies. Economic Modelling, 27, 996-1005.
  • Phiri, A. (2018). Nonlinear impact of inflation on economic growth in South Africa: A smooth transition regression analysis. Int. J. Sustainable Economy, 10(1), 1-17.
  • Piabuo, S. M. & Tieguhong, J. C. (2017). Health expenditure and economic growth-a review af the literature and an analysis between the economic community for central African states (CEMAC) and selected African countries. Health Economics Review, 7(23), 1-13.
  • Rapach, D. E. (2003). International evidence on the long-run impact of inflation. Journal of Money, Credit and Banking, 35(1), 23-48.
  • Romer, C. D. (1996). Inflation and the growth rate of output. NBER Working Paper, No:5575.
  • Romer, P. M. (1986). Increasing returns and long-run growth. The Journal of Political Economy, 94(5), 1002-1037.
  • Saaed, A. A. J. (2007), Inflation and economic growth in Kuwait: 1985-2005 evidence from co-integration and error correction model. Applied Econometrics and International Development, 7(1), 143-155.
  • Sarel, M. (1996). Nonlinear effects of inflation on economic growth. IMF Staff Papers, 43(1), 199-215.
  • Sidrauski, M. (1967). Rational choice and patterns of growth in a monetary economy. American Economic Review, 57(2), 534-544.
  • Tobin, J. (1965). Money and economic growth. Econometrica, 33(4), 671-684.
  • Tong, H. (1978). On a threshold model: Pattern recognition and signal processing. Amsterdan: Sijthoff and Noordhoff, 101-41.
  • Tong, H. (1983). Threshold models in non-linear time series analysis, Lecture notes in statistics, No.21, Springer-Verlag, New York.
  • Tung, L. T. & Thanh, P. T. (2015). Threshold in the relationship between inflation and economic growth: Empirical evidence in Vietnam. Asian Social Science, 11(10), 105-112.
  • Valdovinos, C.G.F. (2003). Inflation and economic growth in the long run. Economic Letters, 80, 167-173.
  • Vinayagathasan, T. (2013). Inflation and economic growth: A dynamic panel threshold analysis for Asian economies. Journal of Asian Economics, 26, 31-41.
  • Wang, Q. (2015). Fixed-effect panel threshold model using stata. The Stata Journal, 15(1), 121-134.
  • Yıldız, B., & Yıldız, G. (2018). Sağlık harcamalarının ekonomik büyüme üzerindeki etkisi: Avrupa ve Merkez Asya ülkeleri örneği, Maliye Dergisi, 174, 203-218.

INFLATION AND ECONOMIC GROWTH: DYNAMIC PANEL THRESHOLD EFFECT ANALYSIS FOR OECD COUNTRIES

Year 2019, Volume: 15 Issue: 3, 629 - 648, 01.10.2019
https://doi.org/10.17130/ijmeb.2019355042

Abstract

This study aims at investigating whether the relationship between inflation and economic growth is linear or not for the period 2000-2014 in 27 OECD countries. By following the panel threshold analysis proposed by Hansen 1999 , one may claim that there is a nonlinear relationship between inflation and economic growth with a single threshold value of inflation. This finding implies that the economic growth effect of inflation is conditioned by the level of inflation. Effectively, we show that inflation exerts a positive influence on economic growth when inflation is below 3.286%, while inflation negatively affect economic growth for inflation rate above 3.286%. The main implication of this study is that policy makers need to pursue monetary policy consistent with lower and more stable inflation

References

  • Abou-Ali, H. & Kheir-El-Din, H. (2009). Inflation and economic growth in Egypt: Is there a threshold effect?. Middle East Development Journal, 1(1), 59-78.
  • Ağır, H. & Tıraş, H.H. (2018). Sağlık harcamaları ile ekonomik büyüme ilişkisinin nedensellik analizi: AB örneği. Cappadocia Journal Of History and Social Sciences, 11, 211-221.
  • Andres, J. & Hernando, I. (1997). Does inflation harm economic growth?. Evidence for the OECD. NBER Working Paper, No:6062.
  • Artan, S. (2006). Gelişmiş ve gelişmekte olan ülkelerde enflasyon ve büyüme: Yatay-kesit ve panel veri analizi. İktisat, İşletme ve Finans, 21(239), 108-124.
  • Aydın C., Esen Ö., & Bayrak M. (2016). Inflation and economic growth: A dynamic panel threshold analysis for Turkish Republics in transition process. Procedia-Social and Behavioral Sciences, 229, 196-205.
  • Badri, A. K., & Badri, S. K. (2016). Health spending and economic growth in selected OECD countries, American Journal of Clinical Neurology and Neurosurgery, 2(1), 5-9.
  • Bakare, A. (2011). A theoretical analysis of capital formation and growth in Nigeria. Far East Journal of Psychology and Business, 3(1), 11-24.
  • Baltagi, B. H. (2013). Econometric analysis of panel data (fifth edition). West Sussex: John Wiley and Sons.
  • Barro, R. J. (1991). Economic growth in a cross section of countries. The Quarterly Journal of Economics, 106(2), 407-443.
  • Barro, R. J. (1995). Inflation and economic growth. NBER Working Paper, No:5326.
  • Bawa, S. & Abdullahi, I. S. (2012). Threshold effect of inflation on economic growth in Nigeria. CBN Journal of Applied Statistics, 3(1), 43-63.
  • Berber, M. & Artan, S. (2004). Enflasyon ve ekonomik büyüme ilişkisi: Türkiye örneği. Tartışma Metni. Türkiye Ekonomi Kurumu. Yayın No: 2004/21.
  • Bloom, D.E. & Canning, D. (2000). The health and wealth of nations. Science, 287(5456), 1207-1209.
  • Bruno, M. & Easterly, W. (1998). Inflation crises and long-run growth. Journal of Monetary Economics, 41 (1), 3-26.
  • Cameron, N., Hum, D., & Simpson, W. (1996). Stylized facts and stylized illusions: Inflation and productivity revisited. Canadian Journal of Economics, 29(1), 152-162.
  • Chan, B. K. S. (1993). Consistency and limiting distribution of the least squares estimator of a threshold autoregressive model. The Annals of Statistics, 21, 520-533.
  • Chigeto, A. D. &Haile, M. A. (2017). Inflation-growth nexus a dynamic panel threshold analysis for East African economies. Developing Country Studies, 7(12), 1-9.
  • Chowdhury, A. (2002). Does inflation affect economic growth? The relevance of the debate for Indonesia. Journal of Asia Pacific Economy, 7(1), 20-34.
  • Çetintaş, H. (2003). Türkiye’de enflasyon ve büyüme. İ.Ü. Siyasal Bilgiler Fakültesi Dergisi, 28, 141- 152.
  • Dammak, T. B. & Helali, K. (2017). Threshold effects on the relationship between inflation rate and economic growth in Tunisia. International Economic Journal, 31(2), 310-325.
  • Danladi, J. D. (2013). Inflation and sustainable output performance in the West African sub-region: The threshold effect. American Journal of Economics, 3(6), 252-259.
  • De Long, B. & Summers, L. (1991). Equipment investment and economic growth. NBER Working Paper Series, No: 3515.
  • Dickey, D. A. & Fuller, W. A. (1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American Statistical Association, 74, 427-431.
  • Drukker, D., Pedro, G. P. & Paula. H. V. (2005). Threshold effects in the relationship between inflation and growth: A new panel-data approach. MPRA Working Paper, No:38225.
  • Eggoh J. C. & Khan M. (2014). On the nonlinear relationship between inflation and economic growth. Research in Economics, 68(2), 133-143.
  • Erbaykal, E. & Okuyan, H. A. (2008). Does inflation depress economic growth? Evidence from Turkey. International Research Journal of Finance and Economics, 17, 40-48.
  • Fischer, S. (1993). The role of macroeconomic factors in growth. Journal of Monetary Economics, 32, 485-512.
  • Fölster, S. & Henrekson, M. (2001). Growth effects of government expenditure and taxation in rich countries. European Economic Review, 45, 1501-1520.
  • González, A., Teräsvirta, T. & Dijk, D. V. (2005). Panel smooth transition regression models. Quantitative Fınance Research Centre, Research Paper 165.
  • Gwartney, J., Holcombe, R., & Lawson, R. (1998). The scope of government and the wealth of nations. Cato Journal, 18(2), 163-190.
  • Gylfason, T. (1991). Inflation, growth, and external debt: A view of the landscape. The World Economy, 14, 279-298.
  • Gylfason, T. & Herbertsson, T. (2001). Does inflation matter for growth?. Japan and the World Economy, 13, 405-428.
  • Hansen, B. E. (1996). Inference when a nuisance parameter is not identified under the null hypothesis. Econometrica, 64, 413-430.
  • Hansen, B. E. (1999). Threshold effects in non-dynamic panels: Estimation, testing, and inference. Journal of Econometrics, 93, 345-368.
  • Hansen, B. E. (2000). Sample splitting and threshold estimation. Econometrica, 68(3), 575-603.
  • Hansen, B. E. (2001). The new econometrics of structural change: Dating breaks in U.S. labor productivity. Journal of Economic Perspectives, 15, 117-128.
  • Hasanov, F. (2010). Relationship between inflation and economic growth in Azerbaijani economy. Is there any threshold effect?. Asian Journal of Business and Management Sciences, 1(1), 1-11.
  • Ibarra, R. & Trupkin, D. (2016). Reexamining the relationship between inflation and growth: Do institutions matter in developing countries?. Economic Modelling, 52, 332-351.
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115, 53-74.
  • Keho, Y. (2017). The impact of trade openness on economic growth: The case of Cote d’Ivoire. Cogent, Economics & Finance, 5(1), 1-14.
  • Khan, M. S. & Senhadji, A. S. (2001). Threshold effects in the relationship between inflation and growth. Technical Report, IMF Staff Papers, No:48.
  • Kormendi, R. C. & Meguire, P. G. (1985). Macroeconomic determinants of growth: Cross-Country evidence. Journal of Monetary Economics, 16(2), 141-163.
  • Kremer S., Bick, A., & Nautz, D. (2009). Inflation and growth: New evidence from a dynamic panel threshold analysis. SFB 649 Discussion Paper.
  • Kremer S., Bick, A., & Nautz, D. (2013). Inflation and growth: New evidence from a dynamic panel threshold analysis. Empirical Economics, 44, 861-878.
  • Landau, D. (1983). Government expenditures and economic growth: A cross-country study. Southern Economic Journal, 49, 783-792.
  • Landau, D. (1986). Government and economic growth in the less developed countries: An empirical study for 1960-1980. Economic Development and Cultural Change, 35, 35-75.
  • Lee, C. C., & Wong, S. Y. (2005). Inflationary threshold effects in the relationship between financial development and economic growth: Evidence from Taiwan and Japan, Journal of Economic Development, 30(1), 49-69.
  • Levin, A., Lin, C. F., & Chu C. S. J. (2002). Unit root tests in panel data: Asymptotic and finite-sample properties. Journal of Econometrics, 108, 1-24.
  • Lucas, R. E. (1988). On the mechanics of economic development. Journal of Monetary Economics, 22, 3-42.
  • Mallik, G. & Chowdhury A. (2001). Inflation and economic growth: Evidence from four South Asian countries. Asia-Pasific Development Journal, 8 (1), 123-135.
  • Mundell, R. A. (1963). Inflation and real interest. Journal of Political Economy, 71, 280-283.
  • Munir, Q., Mansur, K., & Furuoka, F. (2009). Inflation and economic growth in Malaysia: A threshold regression approach. ASEAN Economic Bulletin, 26(2), 180-193.
  • Ncanywa, T. & Makhenyane, L. (2016). Can investment activities in the form of capital formation influence economic growth in South Africa?. SAAPAM Limpopo Chapter 5th Annual Conference Proceedings, 270-279.
  • Ndoricimpa, A. (2017). Threshold effects of inflation on economic growth: Is Africa different?, International Economic Journal, 31(4), 599-620.
  • Nguyena, T. Q. & To, N. K. (2017). Threshold effect in the relationship between foreign direct investment and economic growth: Evidence from Asean countries. Asia Pacific Journal of Advanced Business and Social Studies (APJABSS), 3(1), 32-45.
  • Omay, T. & Kan, E.O. (2010). Re-examining the threshold effects in the inflation-growth nexus with cross-sectionally dependent non-linear panel: Evidence from six industrialized economies. Economic Modelling, 27, 996-1005.
  • Phiri, A. (2018). Nonlinear impact of inflation on economic growth in South Africa: A smooth transition regression analysis. Int. J. Sustainable Economy, 10(1), 1-17.
  • Piabuo, S. M. & Tieguhong, J. C. (2017). Health expenditure and economic growth-a review af the literature and an analysis between the economic community for central African states (CEMAC) and selected African countries. Health Economics Review, 7(23), 1-13.
  • Rapach, D. E. (2003). International evidence on the long-run impact of inflation. Journal of Money, Credit and Banking, 35(1), 23-48.
  • Romer, C. D. (1996). Inflation and the growth rate of output. NBER Working Paper, No:5575.
  • Romer, P. M. (1986). Increasing returns and long-run growth. The Journal of Political Economy, 94(5), 1002-1037.
  • Saaed, A. A. J. (2007), Inflation and economic growth in Kuwait: 1985-2005 evidence from co-integration and error correction model. Applied Econometrics and International Development, 7(1), 143-155.
  • Sarel, M. (1996). Nonlinear effects of inflation on economic growth. IMF Staff Papers, 43(1), 199-215.
  • Sidrauski, M. (1967). Rational choice and patterns of growth in a monetary economy. American Economic Review, 57(2), 534-544.
  • Tobin, J. (1965). Money and economic growth. Econometrica, 33(4), 671-684.
  • Tong, H. (1978). On a threshold model: Pattern recognition and signal processing. Amsterdan: Sijthoff and Noordhoff, 101-41.
  • Tong, H. (1983). Threshold models in non-linear time series analysis, Lecture notes in statistics, No.21, Springer-Verlag, New York.
  • Tung, L. T. & Thanh, P. T. (2015). Threshold in the relationship between inflation and economic growth: Empirical evidence in Vietnam. Asian Social Science, 11(10), 105-112.
  • Valdovinos, C.G.F. (2003). Inflation and economic growth in the long run. Economic Letters, 80, 167-173.
  • Vinayagathasan, T. (2013). Inflation and economic growth: A dynamic panel threshold analysis for Asian economies. Journal of Asian Economics, 26, 31-41.
  • Wang, Q. (2015). Fixed-effect panel threshold model using stata. The Stata Journal, 15(1), 121-134.
  • Yıldız, B., & Yıldız, G. (2018). Sağlık harcamalarının ekonomik büyüme üzerindeki etkisi: Avrupa ve Merkez Asya ülkeleri örneği, Maliye Dergisi, 174, 203-218.
There are 72 citations in total.

Details

Primary Language Turkish
Journal Section Research Article
Authors

Halil Altıntaş This is me

Özgür Koçbulut This is me

Publication Date October 1, 2019
Published in Issue Year 2019 Volume: 15 Issue: 3

Cite

APA Altıntaş, H., & Koçbulut, Ö. (2019). ENFLASYON VE EKONOMİK BÜYÜME: OECD ÜLKELERİ İÇİN DİNAMİK PANEL EŞİK ETKİ ANALİZİ. Uluslararası Yönetim İktisat Ve İşletme Dergisi, 15(3), 629-648. https://doi.org/10.17130/ijmeb.2019355042