RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT AND ECONOMIC STRUCTURAL REFORM IN TÜRKİYE

Year 2025, Volume: 27 Issue: 48, 536 - 552, 30.04.2025

Elifnur Tığtepe , Oğuzhan Demir

https://doi.org/10.18493/kmusekad.1519222

Abstract

Economic structural reforms refer to the obligations that need to be fulfilled in order to eliminate obstacles to the effective and efficient functioning of markets and to contribute to the growth of countries. The implementation of economic structural reforms requires the fulfilment of basic preconditions in various macroeconomic, social, financial, etc. areas. From this point of view in this study, the relationship between financial development and economic structural reforms in Türkiye is examined using the Fourier-Shin (F-Shin) cointegration test and the dynamic least squares (DOLS) method for the period 2002-2021.The analysis results show there is no significant relationship between financial globalization and economic structural reforms in Türkiye; It reveals the existence of a negative relationship between gross fixed capital formation and economic structural reforms, and a positive relationship between foreign direct investments and economic structural reforms.

Keywords

Financial Development , Economic Structural Reforms , Fourier-Shin Co-Integration Test

TÜRKİYE’DE FİNANSAL GELİŞME VE EKONOMİK YAPISAL REFORM İLİŞKİSİ

Abstract

Ekonomik yapısal reformlar, piyasaların etkin ve verimli işleyişinin önündeki engellerin ortadan kaldırılması ve ülkelerin büyümesine katkı sağlanması amacıyla yerine getirilmesi gereken yükümlülükleri ifade etmektedir. Ekonomik yapısal reformların uygulanabilmesi için çeşitli makroekonomik, sosyal, finansal vb. alanlardaki temel ön koşulların sağlanmış olması gerekmektedir. Bu noktadan hareketle bu çalışmada Türkiye’de finansal gelişme ve ekonomik yapısal reformlar arasındaki ilişki, 2002-2021 dönemi için Fourier-Shin (F-Shin) eş-bütünleşme testi ve dinamik en küçük kareler (DOLS) yöntemi kullanılarak incelenmektedir. Analiz sonuçları, Türkiye’de finansal küreselleşme ile ekonomik yapısal reformlar arasında anlamlı bir ilişkinin olmadığını; gayrisafi sabit sermaye oluşumu ile ekonomik yapısal reformlar arasında negatif, doğrudan yabancı yatırımlar ile ekonomik yapısal reformlar arasında pozitif bir ilişkinin varlığını ortaya koymaktadır.

Keywords

Finansal Gelişme , Ekonomik Yapısal Reformlar , Fourier-Shin Eş-Bütünleşme Testi

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