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Relationship between Logistics Performance, Economic Growth and Financial Development in G-7 and E-7 Countries

Year 2020, , 4154 - 4166, 29.12.2020
https://doi.org/10.15869/itobiad.799017

Abstract

Logistics refers to the processes such as transportation, storage, customs clearance, packaging, distribution of a product from the first manufacturer to the end consumer. The logistics sector, whose importance is increasing day by day with globalization, plays an important role in the development of countries. Especially today, the increasing international trade activities between countries have increased the importance of the logistics sector. The logistics sector also plays an important role in the developing industry and the transportation of raw materials required for this (iron, steel, petroleum, etc.). The aim of this study is to analyze the relationship between logistics performance, economic growth and financial development econometric for E-7 countries and G-7 countries for the period 2007-2018. For this purpose, a total of four models related to E-7 countries and G-7 countries were established, and the long-term relationship and long-term coefficients were examined in the models. According to the findings; It is determined that there is no long term relationship between financial development and logistics performance index for E-7 countries. In G-7 countries, due to the high financial depth, it has been determined that there is a long-term relationship between financial development and logistics performance, but the long-term relationship coefficient is statistically insignificant. It has been determined that there is a long term relationship between economic growth and logistics performance for both G-7 countries and E-7 countries. However, the long-term relationship coefficient for E-7 countries was statistically insignificant, whereas the logistics performance index positively affected economic growth in G-7 countries. In this context, it should be kept in mind that from a policy perspective, investment in logistics infrastructure will be the most beneficial investment that can have high returns for future economic growth and financial growth in countries. Therefore, it is essential for the economic growth and financial development that policy makers give due importance to the issue of logistics and develop the necessary policies.

References

  • Afşar, A. (2007). ''Finansal Gelişme ile Ekonomik Büyüme Arasındaki İlişki''. Muhasebe ve Finansman Dergisi , 36, 188.
  • Bardakçi, H. (2020). Benefits Of Digitalization In International Logistics Sector. International Journal of Social Science and Economic Research, 5(06), 1476-1489., Doi: 10.46609/IJSSER. 2020.v05i06.009
  • Breusch, T. S. ve Pagan, A. R. (1980), “The Lagrange Multiplier Test and İts Applications to Model Specification in Econometrics”. The Review of Economic Studies, 47(1), 239- 253.
  • Bozma, G., Başar, S. İ. ve Aydın, S.(2017). ''Lojistik Performansının Ekonomik Büyüme Üzerindeki Etkisi''. The International New Issues in Social Sciences, 5(5), 401-414.
  • Chen, Y. (2011). ''Empirical analysis on the effects of logistics industry on economic growth in Jiangsu Province''. In 2011 IEEE 18th International Conference on Industrial Engineering and Engineering Management ( 1454-1457). IEEE.
  • Chinn, M. D. ve Ito, H. (2005). ''What matters for financial development? Capital controls, institutions, and interactions''. Journal of Development Economic , 81 (1), 164.
  • Hausman, W. H., Lee, H. L ve Subramanian, U. (2013). ''The impact of logistics performance on trade''. Production and Operations Management, 22(2), 236-252.
  • Hoekman, B. ve Nicita, A. (2010).'' Assessing the Doha Round: Market access, transactions costs and aid for trade facilitation''. The Journal of International Trade & Economic Development, 19(1), 65-79.
  • Im, K. S., Pesaran, M. H. ve Shin, Y. (2003), “Testing for Unit Roots in Heterogeneous Panels”, Journal of Econometrics, 115(1),53-74
  • Kaynak, M., & Mert, M. (2009). ''Türkiye’de ulaştırma hizmetleri endeksi''. 18. İstatistik Araştırma Sempozyumu Bildiriler Kitabı (15-27).
  • Khan, S. A. R., Qianli, D., SongBo, W., Zaman, K. ve Zhang, Y. (2017). ''Environmental logistics performance indicators affecting per capita income and sectoral growth: evidence from a panel of selected global ranked logistics countries''. Environmental science and pollution research, 24(2), 1518-1531.
  • Levine, R., & Zervos, S. (1998). ''Stock markets, banks, and economic growth''. American economic review, 537-558.
  • McKinnon, R. I. (1993). The order of economic liberalization: Financial control in the transition to a market economy. JHU Press.
  • Morris, J. S. (2002). ''Does financial development "lead' economic growth?'' International Review of Applied Economics , 16 (2), 154.
  • Ojala, L., & Çelebi, D. (2015). The World Bank’s Logistics Performance Index (LPI) and drivers of logistics performance. Queretaro: OECD.
  • Özdemir, L. (2017). Relationship between financial development and logistics performance and their effects on the competitiveness: an empirical cross-country study (Doctoral dissertation, Mıddle East Technıcal Unıversıty).
  • Pedroni, Peter (1999), “Critical Values for Cointegration Tests in Heterogeneous Panels With Multiple Regressors”, Oxford Bull. Econ. Stat, 61 (Special Issue), 653– 670.
  • Pesaran, M. H. (2004), General Diagnostic Tests for Cross Section Dependence in Panels, http://ftp.iza.org/dp1240.pdf (21.10.2019)
  • Pesaran, M. H., (2006), “A Simple Panel Unit Root Test İn The Presence Of Cross Section Dependence”, Cambridge University & USC, s. 1-64
  • Shaw, E. S. (1973). Financial Deepening in Economic Development, New York: Oxford University Press.
  • Shong-Iee Ivan Su, J.-y. F. (2017). ''National logistics performance benchmarking a process-based approach using World Bank Logistics Performance Index database ''. Journal of Supply Chain and Operations Management , 15 (1), 59.
  • Stock, J. H. ve Watson, M. W. (1993). ''A simple estimator of cointegrating vectors in higher order integrated systems''. Econometrica: Journal of the Econometric Society, 783-820.
  • Şimşek, T. ve Yiğit, E. (2019). ''Lojistik Performans Ve Ekonomik Büyüme Arasındaki İlişki: Orta-Doğu Avrupa Ülkeleri Ve Türkiye Örneği''. Uluslararası Yönetim Eğitim ve Ekonomik Perspektifler Dergisi, 7(2), 169-177.

G-7 ve E-7 Ülkelerinde Lojistik Performans, Ekonomik Büyüme ve Finansal Gelişme İlişkisi

Year 2020, , 4154 - 4166, 29.12.2020
https://doi.org/10.15869/itobiad.799017

Abstract

Lojistik bir ürünün ilk üreticiden son tüketiciye ulaşana kadar kadar gerçekleşen nakliye, depolama, gümrükleme, amblajlama, dağıtım gibi süreçleri ifade eder. Küreselleşme ile birlikte önemi günden güne hızla artan lojisitik sektörü ülkelerin kalkınmalarında büyük bir rol oynamaktadır. Özellikle günümüzde ülkeler arasında artan uluslarası ticaret faaliyetleri lojistik sektörünün önemini daha da artımıştır. Yine gelişen sanayi ve bunun için gerekli olan hammdelerin nakliyesinde de (demir, çelik, petrol vb.) lojisitk sektörü önemli bir rol oynamaktadır. Bu çalışmanın amacı, 2007-2018 dönemi için E-7 ülkeleri ve G-7 ülkeleri için lojistik performans, ekonomik büyüme ve finansal kalkınma arasındaki ekonometrik ilişkiyi incelemektir. Bu amaçla E-7 ülkeleri ve G-7 ülkeleri ile ilgili toplam dört model oluşturulmuş ve modellerde uzun vadeli ilişki ve uzun vadeli katsayılar incelenmiştir. Bulgulara göre; E-7 ülkeleri için finansal gelişme ile lojistik performans endeksi arasında uzun vadeli bir ilişki olmadığı tespit edilmiştir. G-7 ülkelerinde ise yüksek finansal derinlik nedeniyle finansal gelişme ile lojistik performans arasında uzun vadeli bir ilişki olduğu tespit edilmiş, ancak uzun vadeli ilişki katsayısı istatistiksel olarak anlamsızdır. Hem G-7 ülkeleri hem de E-7 ülkeleri için ekonomik büyüme ile lojistik performans arasında uzun vadeli bir ilişki olduğu tespit edilmiştir. Bununla birlikte, E-7 ülkeleri için uzun vadeli ilişki katsayısı istatistiksel olarak önemsizken, lojistik performans endeksinin G-7 ülkelerindeki ekonomik büyümeyi olumlu etkilediği görülmüştür. Bu bağlamda, politika perspektifinden bakıldığında, lojistik altyapısına yapılan yatırımın, ülkelerde gelecekteki ekonomik büyüme ve finansal büyüme için yüksek getirilere sahip olabilecek en faydalı yatırım olacağı unutulmamalıdır. Bu yüzden politika yapıcların lojisitik konusuna gereken önemi vermeleri ve gerekli politikları geliştimeleri ekonomik büyüme ve finansal gelişme için elzemdir.

References

  • Afşar, A. (2007). ''Finansal Gelişme ile Ekonomik Büyüme Arasındaki İlişki''. Muhasebe ve Finansman Dergisi , 36, 188.
  • Bardakçi, H. (2020). Benefits Of Digitalization In International Logistics Sector. International Journal of Social Science and Economic Research, 5(06), 1476-1489., Doi: 10.46609/IJSSER. 2020.v05i06.009
  • Breusch, T. S. ve Pagan, A. R. (1980), “The Lagrange Multiplier Test and İts Applications to Model Specification in Econometrics”. The Review of Economic Studies, 47(1), 239- 253.
  • Bozma, G., Başar, S. İ. ve Aydın, S.(2017). ''Lojistik Performansının Ekonomik Büyüme Üzerindeki Etkisi''. The International New Issues in Social Sciences, 5(5), 401-414.
  • Chen, Y. (2011). ''Empirical analysis on the effects of logistics industry on economic growth in Jiangsu Province''. In 2011 IEEE 18th International Conference on Industrial Engineering and Engineering Management ( 1454-1457). IEEE.
  • Chinn, M. D. ve Ito, H. (2005). ''What matters for financial development? Capital controls, institutions, and interactions''. Journal of Development Economic , 81 (1), 164.
  • Hausman, W. H., Lee, H. L ve Subramanian, U. (2013). ''The impact of logistics performance on trade''. Production and Operations Management, 22(2), 236-252.
  • Hoekman, B. ve Nicita, A. (2010).'' Assessing the Doha Round: Market access, transactions costs and aid for trade facilitation''. The Journal of International Trade & Economic Development, 19(1), 65-79.
  • Im, K. S., Pesaran, M. H. ve Shin, Y. (2003), “Testing for Unit Roots in Heterogeneous Panels”, Journal of Econometrics, 115(1),53-74
  • Kaynak, M., & Mert, M. (2009). ''Türkiye’de ulaştırma hizmetleri endeksi''. 18. İstatistik Araştırma Sempozyumu Bildiriler Kitabı (15-27).
  • Khan, S. A. R., Qianli, D., SongBo, W., Zaman, K. ve Zhang, Y. (2017). ''Environmental logistics performance indicators affecting per capita income and sectoral growth: evidence from a panel of selected global ranked logistics countries''. Environmental science and pollution research, 24(2), 1518-1531.
  • Levine, R., & Zervos, S. (1998). ''Stock markets, banks, and economic growth''. American economic review, 537-558.
  • McKinnon, R. I. (1993). The order of economic liberalization: Financial control in the transition to a market economy. JHU Press.
  • Morris, J. S. (2002). ''Does financial development "lead' economic growth?'' International Review of Applied Economics , 16 (2), 154.
  • Ojala, L., & Çelebi, D. (2015). The World Bank’s Logistics Performance Index (LPI) and drivers of logistics performance. Queretaro: OECD.
  • Özdemir, L. (2017). Relationship between financial development and logistics performance and their effects on the competitiveness: an empirical cross-country study (Doctoral dissertation, Mıddle East Technıcal Unıversıty).
  • Pedroni, Peter (1999), “Critical Values for Cointegration Tests in Heterogeneous Panels With Multiple Regressors”, Oxford Bull. Econ. Stat, 61 (Special Issue), 653– 670.
  • Pesaran, M. H. (2004), General Diagnostic Tests for Cross Section Dependence in Panels, http://ftp.iza.org/dp1240.pdf (21.10.2019)
  • Pesaran, M. H., (2006), “A Simple Panel Unit Root Test İn The Presence Of Cross Section Dependence”, Cambridge University & USC, s. 1-64
  • Shaw, E. S. (1973). Financial Deepening in Economic Development, New York: Oxford University Press.
  • Shong-Iee Ivan Su, J.-y. F. (2017). ''National logistics performance benchmarking a process-based approach using World Bank Logistics Performance Index database ''. Journal of Supply Chain and Operations Management , 15 (1), 59.
  • Stock, J. H. ve Watson, M. W. (1993). ''A simple estimator of cointegrating vectors in higher order integrated systems''. Econometrica: Journal of the Econometric Society, 783-820.
  • Şimşek, T. ve Yiğit, E. (2019). ''Lojistik Performans Ve Ekonomik Büyüme Arasındaki İlişki: Orta-Doğu Avrupa Ülkeleri Ve Türkiye Örneği''. Uluslararası Yönetim Eğitim ve Ekonomik Perspektifler Dergisi, 7(2), 169-177.
There are 23 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

Hasan Bardakçı 0000-0002-6181-3115

Aylin Erdogdu

Abdulkadir Barut 0000-0001-8315-9727

Publication Date December 29, 2020
Published in Issue Year 2020

Cite

APA Bardakçı, H., Erdogdu, A., & Barut, A. (2020). Relationship between Logistics Performance, Economic Growth and Financial Development in G-7 and E-7 Countries. İnsan Ve Toplum Bilimleri Araştırmaları Dergisi, 9(5), 4154-4166. https://doi.org/10.15869/itobiad.799017
İnsan ve Toplum Bilimleri Araştırmaları Dergisi  Creative Commons Atıf-GayriTicari 4.0 Uluslararası Lisansı (CC BY NC) ile lisanslanmıştır.