The Effects of IT and Financial Development on Economic Growth in BRICS-T Countries: Insights from the Solow Growth Model

Year 2024, , 197 - 211, 27.09.2024

Cuma Demirtaş

https://doi.org/10.57116/isletme.1530329

Abstract

The aim of the study is to examine the impact of IT and financial development on economic growth in BRICS-T countries for the period 1990-2022 using the panel quantile technique. For this purpose, IT technology and financial development variables were added to the basic Solow model. According to the findings, the impact of physical capital stock on economic growth is positive in all quantiles. The effect of population growth on economic growth is significant starting from 0.4 quantile and the negative effect increases as the quantile level increases. Information technology, which is the subject of the study, positively affects economic growth and this effect decreases as the quantile level increases. The variables we used to represent the level of financial development, financial institutions have a positive but statistically insignificant coefficient sign, while financial markets have a statistically significant but negative coefficient sign. This negative effect increases as the quantile level increases.

Keywords

Economic growth, financial development, information technologies, BRICS-T countries

BRICS-T Ülkelerinde BT ve Finansal Gelişimin Ekonomik Büyüme Üzerindeki Etkilerinin Araştırılması: Solow Büyüme Modelinden İçgörüler

Abstract

Çalışmanın amacı, BT teknolojisinin ve finansal gelişmenin BRICS-T ülkelerinde ekonomik büyüme üzerindeki etkisini 1990-2022 dönemi için panel kantil tekniğini kullanılarak araştırmaktır. Bunun için temel Solow modeline BT teknolojisi ve finansal gelişme değişkenleri ilave edilmiştir. Elde edilen bulgulara göre fiziki sermaye stokunun ekonomik büyüme üzerine etkisi tüm kantilllerde pozitiftir. Nüfus büyümesinin ekonomik büyüme üzerindeki etkisi 0.4 kantilden itibaren anlamlı olmakta ve kantil düzeyi arttıkça da negatif etki artmaktadır. Çalışmanın konusunu oluşturan bilgi teknolojisi ekonomik büyümeyi pozitif etkilemekte ve bu etki kantil düzeyi arttıkça azalmaktadır. Finansal gelişme düzeyini temsilen kullanmış olduğumuz değişkenlerden finansal kurumlar pozitif ancak istatiksel olarak anlamsız, finansal piyasalar ise istatiksel olarak anlamlı fakat negatif katsayı işaretine sahiptir. Bu negatif etki ise kantil düzeyi arttıkça artmaktadır.

Keywords

Ekonomik büyüme, finansal gelişme, bilgi teknolojileri, BRICS-T ülkeleri

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