FİNANSAL KÜRESELLEŞME VE GELİR EŞİTSİZLİĞİ ARASINDAKİ İLİŞKİ: YÜKSELEN PİYASA EKONOMİLERİ ÖRNEĞİ

Abstract

19 yükselen piyasa ekonomileri için finansal küreselleşme ve gelir eşitsizliği arasındaki nedensellik ilişkisini analiz etmekteyiz. Panel boostrap nedensellik analizinden yararlanmaktayız. Veri seti 1979-2012 dönemini kapsamaktadır. Sonuçlar, finansal küreselleşme ve gelir eşitsizliği arasında pozitif bir nedensellik ilişkisi olduğunu göstermektedir. Ayrıca, Şili, Çin, Kolombiya, Mısır, Hindistan, Endonezya, Pakistan ve Singapur’da finansal küreselleşmeden gelir eşitsizliğine doğru bir Granger nedensellik ilişkisi görülürken, Mısır ve İran’da ise gelir eşitsizliğinden finansal küreselleşmeye doğru bir Granger nedensellik bulunmaktadır. Ek olarak, Malezya, Filipinler ve Taylan’da ise çift yönlü Granger nedensellik vardır. Sonuçlar geleneksel anlayışla tutarlı değildir.

Keywords

• Küreselleşme
• Finansal Küreselleşme
• Gelir Eşitsizliği
• Sürdürülebilir Kalkınma

THE NEXUS BETWEEN FINANCIAL GLOBALIZATION AND INCOME INEQUALITY: THE CASE OF EMERGING MARKET ECONOMIES

Abstract

We analyze the causality nexus between financial globalization and income inequality for 19 Emerging Market Economies. We use the panel bootstrap causality analysis. The dataset covers the period 1979-2012. The results indicate that there is a positive causality nexus between financial globalization and income inequality. Also, they show that Granger causality running from financial globalization to income inequality is seen in many countries such as Chile, China, Colombia, Egypt, India, Indonesia, Pakistan, and Singapore while there is Granger causality running from income inequality to financial globalization in Egypt and Iran Furthermore, there is bidirectional Granger causality in Malaysia, Philippines, and Thailand. The results are not consistent with the conventional wisdom.

Keywords

• Globalization
• Financial Globalization
• Income Inequality
• Sustainable Development

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