The Relationship Between Human Capital, Banking Sector Development and Economic Growth in Developing Countries

Yıl 2024, Cilt: 16 Sayı: 31, 488 - 502, 28.11.2024

Murat Tekbaş

https://doi.org/10.20990/kilisiibfakademik.1508072

Öz

Purpose: The aim of this research is to examine the impact of banking sector development, broad money supply and economic growth on human capital.
Design/Methodology: In this study, the relationship between human capital, financial development and economic growth in selected developing countries (Brazil, India, Russia, China and South Africa) is investigated for the period 2001 - 2019. The relationship between the series was analyzed by FMOLS and DOLS methods. Additionally, Dumitrescu-Hurlin causality test was applied for causality.
Findings: As a result of the analysis; FMOLS and DOLS method results show that domestic loans (DCBANK) given to the private sector by banks included in the model to represent financial development make a positive contribution to human capital. It was concluded that broad money supply (BRDMON), which is the other variable used to represent financial development, negatively affects human capital.
Limitations: The limitations of the study are that it was conducted for the sample of Brazil, India, Russia, China and South Africa and that the period for which common data is available is 2001-2019.
Originality/Value: The study differs from the literature in that, unlike financial development indicators frequently used in the field, it examines the impact of banking sector development on human capital and is conducted for developing countries that represent 41% of the world's population.

Anahtar Kelimeler

Human Capital, Banking Sector Development, Economic Growth, Panel Data Analysis

Gelişmekte Olan Ülkelerde Beşeri Sermaye ile Bankacılık Sektör Gelişimi ve Ekonomik Büyüme İlişkisi

Öz

Amaç: Bu araştırmanın amacı bankacılık sektör gelişimi, geniş para arzı ile ekonomik büyümenin beşeri sermaye üzerindeki etkisinin incelenmesidir.
Tasarım/Yöntem: Bu çalışmada seçilmiş (Brezilya, Hindistan, Rusya, Çin ve Güney Afrika) gelişmekte olan ülkelerde beşeri sermaye ile finansal gelişme ve ekonomik büyüme arasındaki ilişki 2001 – 2019 dönemi için araştırılmaktadır. Seriler arasındaki ilişki FMOLS ve DOLS yöntemleriyle analiz edilmştir. Ayrıca nedensellik ilişkisi için Dumitrescu-Hurlin nedensellik testi uygulanmıştır.
Bulgular: Analizler sonucunda; FMOLS ve DOLS yöntemi sonuçları finansal gelişmeyi temsilen modele dahil edilen bankalar tarafından özel sektöre verilen yurt içi kredilerin (DCBANK) beşeri sermaye üzerinde pozitif katkı sağladığını göstermektedir. Finansal gelişmeyi temsilen kullanılan diğer değişken olan geniş para arzının (BRDMON) ise beşeri sermayeyi olumsuz etkilediği sonucu elde edilmiştir.
Sınırlılıklar: Çalışmanın Brezilya, Hindistan, Rusya, Çin ve Güney Afrika örneklemi için yapılması ve ortak verilerinin bulunduğu dönem olan 2001-2019 yılları sınırlılıklarıdır.
Özgünlük/Değer: Çalışma alanda sıklıkla kullanılan finansal gelişme göstergelerinden farklı olarak kullanılan bankacılık sektör gelişiminin beşeri sermaye üzerindeki etkisini incelemesi ve dünya nüfusunun %41’ini temsil eden gelişmekte olan ülkeler için yapılması ile literatürden ayrışmaktadır.

Anahtar Kelimeler

Beşeri Sermaye, Bankacılık Sektör Gelişimi, Ekonomik Büyüme, Panel Veri Analizi

Kaynakça

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