Are Trade Liberation and Financial Development Reducing Poverty? Evidence from New Industrialized Countries

Abstract

The aim of this study is to investigate the effect of trade liberalization and financial development on the level of poverty. For this purpose, empirical applications have been made for the New Industrializing Countries with the data covering the years 1985-2020. In the study, CADF unit root test, ECM cointegration test, CCE coefficient estimator and Dumitrescu-Hurlin (2012) panel causality tests were used. In the model, the ratios of household final consumption expenditures, loans given to the private sector by banks, exports and imports to GDP, and economic growth indicators are used. According to the results obtained, it was concluded that imports reduce poverty, but financial development, exports and economic growth affect poverty negatively. According to the panel causality results, bidirectional causality was obtained between exports and imports with poverty. Unidirectional causality was obtained from poverty to economic growth and financial development.

Keywords

• Poverty
• Financial Development
• Trade Liberation
• Dumitrescu-Hurling

Ticari Serbestleşme ve Finansal Gelişmişlik Yoksulluğu Azaltıyor mu Yeni Sanayileşen Ülkelerden Kanıtlar

Abstract

Bu çalışmanın amacı ticari serbestleşme ve finansal gelişmişliğin yoksulluk düzeyi üzerindeki etkisini araştırmaktır. Bu amaç doğrultusunda 1985-2020 yıllarını kapsayan veriler ile Yeni Sanayileşen Ülkeler için ampirik uygulamalar yapılmıştır. Çalışmada yöntem olarak CADF birim kök testi, ECM eşbütünleşme testi, CCE katsayı tahmincisi ve Dumitrescu-Hurlin (2012) panel nedensellik testleri kullanılmıştır. Modelde, hane halkı nihai tüketim harcamalarının ve banklar tarafından özel kesime verilen kredilerin, ihracat ve ithalatın GSYH’ye içindeki oranları ile ekonomik büyüme göstergeleri kullanılmıştır. Elde edilen sonuçlara göre ithalatın yoksulluğu azalttığı ancak finansal gelişmişlik, ihracat ve ekonomik büyümenin yoksulluğu negatif etkilediği sonucuna varılmıştır. Panel nedensellik sonuçlarına göre ise ihracat ve ithalat ile yoksulluk arasında çift yönlü nedensellik elde edilmiştir. Yoksulluktan ekonomik büyüme ve finansal gelişmişliğe tek yönlü nedensellik elde edilmiştir.

Keywords

• Yoksulluk
• Finansal gelişmişlik
• Ticari serbestleşme
• Dumitrescu-Hurling

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