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Ekonomik Büyüme Refah Düzeyini Artırır mı? Hoşnutsuzluk Endeksi Yaklaşımı ile Test Edilmesi: Endonezya, İran ve Suudi Arabistan Örneği

Year 2020, Volume: 5 Issue: 1, 17 - 22, 30.06.2020

Abstract

Hoşnutsuzluk Endeksi, Arthur M. Okun tarafından geliştirilen ekonomik ve sosyal bir göstergedir. Okun Hoşnutsuzluk Endeksi, bir ülke için enflasyon oranı ve işsizlik oranının toplamını ifade etmektedir. Robert J. Barro büyüme oranı ve nominal uzun vadeli faiz oranı iki değişken ekleyerek Hoşnutsuzluk Endeksini geliştirmiştir. Kapitalist sistemde ekonomik büyümenin aynı zamanda refah düzeyini arttırdığı iddia edilmektedir. Bu bağlamda çalışmanın örneklemi olarak Endonezya, İran ve Suudi Arabistan gibi petrol zengini İslam ülkeleri özellikle seçilmiştir. Bu çalışmada ekonomik büyüme düzeyinin halkın refah düzeyi üzerinde bir etkisinin olup olmadığı Hoşnutsuzluk Endeksi ile test edilmek istenmiştir. 2000-2018 dönemi için yapılan çalışma sonucunda; bu üç ülkede gerçekleşen ekonomik büyümenin halkın refah düzeyi anlamında sadece enflasyon oranları üzerinde etkili olduğu, işsizlik oranlarında herhangi bir etkiye sahip olmadığı yönünde bulgular elde edilmiştir.

References

  • Ademola, Abdulsalam S. and Badiru, A. (2016). Article The Impact of Unemployment and Inflation on Economic Growth in Nigeria (1981-2014), International Journal of Business and Economic Sciences Applied Research 9(1), 47-55.
  • Akpınar, R., Kamil, T. ve Özsan, M. E. (2013). Hoşnutsuzluk Endeksine Göre Türkiye’de Bölgesel Farklılık, Uluslararası Avrasya Sosyal Bilimler Dergisi, 4(10), 59-70.
  • Al, İ. ve Baday Y. E. (2019). Türkiye’nin 2006-2017 dönemi makroekonomik performansı: Sihirli kare yaklaşımı, Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 33, 303-320.
  • Blanchflower, D G. (2007). Is Unemployment More Costly than Inflation?, NBER Working Paper, 13505.
  • Bölükbaş, M. (2018). Enflasyon ve Ekonomik Büyüme Gerçekten Genç İşsizliği Etkiler mi? Gelişmekte Olan 20 Ekonomiden Kanıtlar, UİİİD-IJEAS, (18. EYİ Özel Sayısı), 55-66.
  • Cohen, I., Fabrizio, F. and Bryan, M. (2014). Decomposing The Misery Index: A Dynamic Approach, Cogent Economics and Finance, 2(99108), 1-8.
  • Çondur, F. (2016). Türkiye'de Hoşnutsuzluk Endeksi Parametrelerinin Gelişimi, Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 30(5), 1309-1327.
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  • Işık, M. ve Çetenak, Ö. Ö. (2018). Is the Misery Index a Successful Indicator in Measuring Macroeconomic Performance?: A Review on Turkey and the BRICS Countries, International Journal Of Economic Studies, 4(4), 37-50.
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  • Kusago, T. (2007). Rethinking of Economic Growth and Life Satisfaction In Post-WWII Japan – A Fresh Approach, Social Indicators Research, (81), 79-102. DOI 10.1007/s11205-006-0016-9
  • Lovell, M. C. and Tien P.-L. (2000). Economic Discomfort and Consumer Sentiment, Eastern Economic Journal, 26 (1), 1-8.
  • Luengas, P. and Ruprah, I. (2009). Should Central Banks Target Happiness? : Evidence from Latin America, Inter – American Development Bank Publications, Working Papers, 25818.
  • Mallik, G. and Chowdhury A. (2001), Inflation and Economic Growth: Evidence from Four South Asian Countries, Asia-Pacific Development Journal, 8(1), 123-135.
  • Saudi Arabia (2019). Index of Economic Freedom, (Erişim: 01.12.2019), https://www.heritage.org/index/country/saudiarabia.
  • Satista (2020). Iran: Inflation rate from 1984 to 2024, (Erişim: 21.02.2020), https://www.statista.com/statistics/294320/iran-inflation-rate/
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  • The World Bank (2020). (Erişim: 21.02.2020), https://www.worldbank.org/en/country/iran/overview
  • The GlobalEconomy.com (2020). Indonesia: Unemployment Rate, (Erişim: 13.02.2020), https://www.theglobaleconomy.com/Indonesia/unemployment_rate/
  • Tenzin, U. (2019). The Nexus Among Economic Growth, Inflation and Unemployment in Bhutan, South Asia Economic Journal, 20(1), 94-105.
  • Welsch, H. (2007). Macroeconomics and Life Satisfaction: Revisiting the Misery Index, Journal of Applied Economics, 10(2), 237-51.
  • Yüksel, S. (2016). Rusya Ekonomisinde Büyüme, İşsizlik ve Enflasyon Arasındaki Nedensellik İlişkileri, Finans Politik & Ekonomik Yorumlar, 53(614), 43-57.

Does Economic Growth Increase Welfare? Example Tested by Misery Index Approach (Indonesia, Iran and Saudi Arabia)

Year 2020, Volume: 5 Issue: 1, 17 - 22, 30.06.2020

Abstract

The concept of Misery Index is an economic and social indicator created by Arthur M. Okun. "Okun misery index" means the sum of the inflation rate and the unemployment rate for a given country. Robert J. Barro developed the Misery index by adding two variables to the real GDP growth rate and nominal long-term interest rate. It is claimed that economic growth in the capitalist system also increases the level of prosperity. In this context, oil-rich Islam countries such as Indonesia, Iran and Saudi Arabia were especially selected. Whether or not economic growth has an impact on the welfare of the population was tested by the Misery Index. The study covers the period 2000-2018. Economic growth in these three countries only affects inflation rates. It has no effect on unemployment rates.

References

  • Ademola, Abdulsalam S. and Badiru, A. (2016). Article The Impact of Unemployment and Inflation on Economic Growth in Nigeria (1981-2014), International Journal of Business and Economic Sciences Applied Research 9(1), 47-55.
  • Akpınar, R., Kamil, T. ve Özsan, M. E. (2013). Hoşnutsuzluk Endeksine Göre Türkiye’de Bölgesel Farklılık, Uluslararası Avrasya Sosyal Bilimler Dergisi, 4(10), 59-70.
  • Al, İ. ve Baday Y. E. (2019). Türkiye’nin 2006-2017 dönemi makroekonomik performansı: Sihirli kare yaklaşımı, Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 33, 303-320.
  • Blanchflower, D G. (2007). Is Unemployment More Costly than Inflation?, NBER Working Paper, 13505.
  • Bölükbaş, M. (2018). Enflasyon ve Ekonomik Büyüme Gerçekten Genç İşsizliği Etkiler mi? Gelişmekte Olan 20 Ekonomiden Kanıtlar, UİİİD-IJEAS, (18. EYİ Özel Sayısı), 55-66.
  • Cohen, I., Fabrizio, F. and Bryan, M. (2014). Decomposing The Misery Index: A Dynamic Approach, Cogent Economics and Finance, 2(99108), 1-8.
  • Çondur, F. (2016). Türkiye'de Hoşnutsuzluk Endeksi Parametrelerinin Gelişimi, Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 30(5), 1309-1327.
  • Gress, M. (2014). Is Ukraıne Ready for the OECD Membershıp?, Actual Problems of Economics Problems of Economics, 8(158), 40-49.
  • Herman, E.(2010). Inflation and Unemployment in The Romanian Economy, Annals of The University of Petroşani, Economics,10 (2), 157-170.
  • Indonesia (2019). Index of Economic Freedom, Erişim: (01.12. 2019), https://www.heritage.org/index/country/indonesia.
  • Iran (2019). 2019 Index of Economic Freedom, Erişim tarihi: 01 aralık 2019, https://www.heritage.org/index/country/iran.
  • Işık, M. ve Çetenak, Ö. Ö. (2018). Is the Misery Index a Successful Indicator in Measuring Macroeconomic Performance?: A Review on Turkey and the BRICS Countries, International Journal Of Economic Studies, 4(4), 37-50.
  • KNOEMA, Indonesia - Average Consumer Prices Inflation Rate,(Erişim:12.02.2020), https://knoema.com/atlas/Indonesia/Inflation-rate
  • Kusago, T. (2007). Rethinking of Economic Growth and Life Satisfaction In Post-WWII Japan – A Fresh Approach, Social Indicators Research, (81), 79-102. DOI 10.1007/s11205-006-0016-9
  • Lovell, M. C. and Tien P.-L. (2000). Economic Discomfort and Consumer Sentiment, Eastern Economic Journal, 26 (1), 1-8.
  • Luengas, P. and Ruprah, I. (2009). Should Central Banks Target Happiness? : Evidence from Latin America, Inter – American Development Bank Publications, Working Papers, 25818.
  • Mallik, G. and Chowdhury A. (2001), Inflation and Economic Growth: Evidence from Four South Asian Countries, Asia-Pacific Development Journal, 8(1), 123-135.
  • Saudi Arabia (2019). Index of Economic Freedom, (Erişim: 01.12.2019), https://www.heritage.org/index/country/saudiarabia.
  • Satista (2020). Iran: Inflation rate from 1984 to 2024, (Erişim: 21.02.2020), https://www.statista.com/statistics/294320/iran-inflation-rate/
  • The World Bank (2020). (Erişim: 11.02.2020), https://www.worldbank.org/en/country/indonesia/overview
  • The World Bank (2020). (Erişim: 21.02.2020), https://www.worldbank.org/en/country/iran/overview
  • The GlobalEconomy.com (2020). Indonesia: Unemployment Rate, (Erişim: 13.02.2020), https://www.theglobaleconomy.com/Indonesia/unemployment_rate/
  • Tenzin, U. (2019). The Nexus Among Economic Growth, Inflation and Unemployment in Bhutan, South Asia Economic Journal, 20(1), 94-105.
  • Welsch, H. (2007). Macroeconomics and Life Satisfaction: Revisiting the Misery Index, Journal of Applied Economics, 10(2), 237-51.
  • Yüksel, S. (2016). Rusya Ekonomisinde Büyüme, İşsizlik ve Enflasyon Arasındaki Nedensellik İlişkileri, Finans Politik & Ekonomik Yorumlar, 53(614), 43-57.
There are 25 citations in total.

Details

Primary Language Turkish
Journal Section Research Article
Authors

Rıdvan Karacan 0000-0002-4148-0069

Publication Date June 30, 2020
Published in Issue Year 2020 Volume: 5 Issue: 1

Cite

APA Karacan, R. (2020). Ekonomik Büyüme Refah Düzeyini Artırır mı? Hoşnutsuzluk Endeksi Yaklaşımı ile Test Edilmesi: Endonezya, İran ve Suudi Arabistan Örneği. JOEEP: Journal of Emerging Economies and Policy, 5(1), 17-22.

JOEEP is published as two issues per year June and December and all publication policies and processes are conducted according to the international standards. JOEEP accepts and publishes the research articles in the fields of economics, political economy, fiscal economics, applied economics, business economics, labour economics and econometrics. JOEEP, without depending on any institution or organization, is a non-profit journal that has an International Editorial Board specialist on their fields. All “Publication Process” and “Writing Guidelines” are explained in the related title and it is expected from authors to Show a complete match to the rules. JOEEP is an open Access journal.