The Potential Effect of Social Capital on Economic Growth: Structural Fractured Cointegration Analysis for Turkey

Year 2017, Volume: 25 Issue: 33, 175 - 194, 30.07.2017

Oktay Kızılkaya

https://doi.org/10.17233/sosyoekonomi.285901

Cited By: 2

Abstract

The impact of the trust factor on economy has been a longstanding debate in the economic literature. Recently, investigating the impact of social capital, which represents trust, on economic growth has become an attractive research area. In this context, the study examines the relationship between social capital indicators and economic growth over the period 2006-2014 using quarterly data. We use Principal Components Analysis method to calculte the social capital index. In the next phase, the effect of social capital index, labour force participation rate and fixed capital on economic growth is investigated by using Maki (2012) cointegration test with structural breaks and Stock-Watson (1993) DOLS estimation methods. Analysis results show that social capital has a positive impact on economic growth.

Keywords

Social Capital, Trust, Economic Growth, Structural Break Cointegration Test, DOLS Estimation Method, Turkey

Sosyal Sermayenin Ekonomik Büyüme Üzerindeki Potansiyel Etkisi: Türkiye İçin Yapısal Kırılmalı Eşbütünleşme Analizi

Abstract

Ekonomi doktrininde güven faktörünün ekonomiler üzerindeki etkisi uzun yıllardır süregelen bir tartışmadır. Son yıllarda ise güveni temsil eden sosyal sermayenin ekonomik büyüme üzerindeki etkisi literatürde ilgi gören bir araştırma alanı haline gelmiştir. Bu kapsamda, çalışmada Türkiye Ekonomisi için sosyal sermaye göstergeleri ve ekonomik büyüme ilişkisi 2006-2014 çeyrek dönemlik veriler ile incelenmiştir. Analiz için öncelikle Temel Bileşenler Analiz (TBA) yöntemi ile sosyal sermaye endeksi hesaplanmıştır. Sonraki aşamada sosyal sermaye endeks, işgücüne katılım oranı ve sabit sermayenin ekonomik büyüme üzerindeki etkisi Maki (2012) yapısal kırılmalı eşbütünleşme testi ve Stock-Watson (1993) DOLS tahmin yöntemi ile incelenmiştir. Analiz sonuçları sosyal sermayenin ekonomik büyüme üzerinde pozitif bir katkısı olduğunu işaret etmektedir.

Keywords

Sosyal Sermaye, Güven, Ekonomik Büyüme, Yapısal Kırılmalı Eşbütünleşme Testi, DOLS Tahmin Yöntemi, Türkiye

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