An Application for Classification of Developing Countries in Terms of Financial Deepening

Abstract

Financial deepening shows to extend to which the funds saved in the financial system are transferred real sector and as the level of financial deepening increases countries can develop more economically and financially. The level of financial deepening differs in terms of developed and developing countries. Factors to be taken into consideration in each country can be changed according to the financial, social and institutional structures of the countries in the increase of the level of financial deepening. The aim of the study is to determine which developing countries are different from each other in terms of financial deepening and which have similar characteristics. In order to achieve this aim, a cluster analysis was carried out on 17 emerging countries with financial deepening data covering the period from 1997 to 2014. As a result of the analysis, the countries were divided into four groups in terms of financial deepening and the countries with similar financial deepening were in the same cluster and the non-similar countries were in different clusters.

Keywords

• Financial Deepening,Principal Component Analysis,Cluster Analysis

Gelişmekte Olan Ülkelerin Finansal Derinleşme Açısından Sınıflandırılmasına İlişkin Bir Uygulama

Abstract

Finansal derinleşme finansal sistemde biriktirilen fonların reel sektöre ne ölçüde aktarıldığını göstermekte ve finansal derinleşme düzeyi arttıkça ülkeler finansal ve ekonomik açıdan daha fazla gelişebilmektedir. Finansal derinleşme düzeyi gelişmiş ve gelişmekte olan ülkeler açısından farklılık göstermekte ve finansal derinleşme düzeyinin yükseltilmesinde her bir ülkede dikkate alınacak faktörler de ülkelerin finansal, ekonomik, politik, sosyal ve kurumsal yapılarına göre değişebilmektedir. Çalışmanın amacı gelişmekte olan hangi ülkelerin finansal derinleşme açısından farklı, hangilerinin benzer özellikler gösterdiğini belirlemektir. Bu amacı gerçekleştirmek için çalışmada gelişmekte olan 17 ülkenin 1997 – 2014 dönemini kapsayan finansal derinleşme verileriyle kümeleme analizi yapılmıştır. Analiz sonucunda ülkeler finansal derinleşme açısından dört farklı sınıfa ayrılmış ve finansal derinleşme açısından benzer olan ülkeler aynı kümede, benzer olmayan ülkeler farklı kümelerde yer almışlardır.

Keywords

• Finansal Derinleşme,Temel Bileşenler Analizi,Kümeleme Analizi

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