Finansal Kısıtlar ve İhracat İlişkisi: Türkiye Metal Eşya, Makine ve Gereç Yapım İmalat Sanayisi için Bir İnceleme

Year 2019, Volume: 10 Issue: 17, 596 - 614, 31.03.2019

Ömer Tuğsal Doruk

https://doi.org/10.26466/opus.479052

Abstract

Finansal kısıtlar, Türkiye
ekonomisinde büyüme için önemli olan ihracat açısından oldukça önemli bir engel
olma potansiyeline sahiptir. İhracat yapan firmaların dışsal finansmana
erişiminde yaşadığı sorunlar ihracat için önemli bir sorun teşkil etmektedir. Bu
çalışmada finansal kısıtlar ile ihracat arasındaki ilişki Türkiye imalat
sanayisi içerisinde yer alan Metal Eşya, Makine ve Gereç Yapım sektöründe yer
alan firmalar için Borsa Istanbul’da yer alan şirketler için 2006-2015 yılları
arasında araştırılmaktadır. Çalışmada Gölge Değişkenli En Küçük Kareler ve
Dinamik Sabit Etkiler modelleri kullanılarak ihracat ile finansal kısıtlar
arasındaki ilişki araştırılmaktadır. Ekonometrik analizde kullanılan modeller
çerçevesinde içsellik, değişen varyans, otokorelasyon ve firmaların
davranışının dinamik yapısı  kontrol edilerek  elde edilen sonuçlar, Metal Eşya, Makine ve
Gereç Yapım sektöründe yer alan firmalar için finansal kısıtların ihracat
üzerine ciddi anlamda ve olumsuz bir etkisi olduğunu göstermektedir. Çalışma,
literatürde yer alan çalışmalardan ayrı olarak uyguladığı dinamik panel
modelleri vasıtasıyla Türkiye ekonomisinde ihracat için önemli olan bir sektör
olan Metal Eşya, Makine ve Gereç Yapım sektöründe yer alan firmalar açısından
finansal kısıtlar ile ihracat arasındaki ilişkisiyi göstermektedir.

Keywords

Finansal kısıtlar, İhracat, Türkiye ekonomisi, Gölge değişkenli en küçük kareler modeli, Dinamik Sabit Etkiler Modeli

The Relationship between Financing Constraints and Exports: A Case of Turkish Fabricated Metal Products, Machinery, and Equipment Manufacturing Industry

Abstract

Financing
constraints have the potential to become
an important obstacle for exports which have significant
importance for economic growth in the Turkish economy. The issues that firms
face for access to external finance represents
a significant issue for exports in the Turkish economy. In this study, the
relationship between financing constraints and exports is examined for the
Turkish fabricated metal products, machinery, and
equipment sector in the period 2006-2015. By using the least squares dummy variable regression and dynamic fixed effects
methods, the relationship between financing constraints and exports is
examined.  The obtained findings from the
econometric analyses, which endogeneity, heteroscedasticity, and
autocorrelation and dynamic structure of firm behavior are controlled, show
that financing constraints have a significant effect on exports in the
fabricated metal products, machinery and equipment sector. This study, unlike
the previous studies in the current literature, shows
the relationship between financing constraints and exports for the firms operates in the fabricated metal
products, machinery, and equipment sector
by employing dynamic panel models.

Keywords

Financing constraints, Exports, Turkish economy, Least Squares dummy variable regression model, Dynamic fixed effects model

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