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Finansal Kuznets Eğrisi Hipotezi: Yapısal Kırılmalı Eş-bütünleşme Testleri ile Türk Ekonomisine İlişkin Ampirik Bir Analiz

Year 2021, Volume: 29 Issue: 50, 337 - 359, 31.10.2021

Cüneyt Dumrul Salih Çağrı İlkay Yasemin Dumrul

https://doi.org/10.17233/sosyoekonomi.2021.04.16
Cited By: 2

Abstract

Sürdürülebilir kalkınma için gelir eşitsizliğinin azaltılması önem arz etmektedir. Gelir eşitsizliği azaltılması için finansal gelişme önemli bir politika aracı olarak kullanılabilir. Bu çalışmada Türk ekonomisinde finansal gelişmenin gelir adaletsizliği üzerindeki etkileri Finansal Kuznets Eğrisi Hipotezi bağlamında araştırılmaktadır. Çalışmanın ampirik bölümünde IMF tarafından geliştirilen finansal gelişme ölçütlerine ilişkin seriler ve gelir adaletsizliği için Texas Üniversitesi Eşitsizlik Projesi (UTIP) Veri Seti ile hesaplanan seriler kullanılmıştır. Yapısal kırılmalar dikkate alınarak yapılan ekonometrik analizler sonucunda, uzun dönemli bir eş-bütünleşme ilişkisi tespit edilememiştir. Bu bulgular ele alınan dönemde Türkiye'de Finansal Kuznets Eğrisi hipotezinin geçerli olmadığını göstermektedir.

Keywords

Finansal Kuznets Eğrisi Finansal Gelişme Gelir Eşitsizliği

References

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The Financial Kuznets Curve Hypothesis: An Empirical Analysis of the Turkish Economy with Structural Breaks Co-integration Tests

Year 2021, Volume: 29 Issue: 50, 337 - 359, 31.10.2021

Cüneyt Dumrul Salih Çağrı İlkay Yasemin Dumrul

https://doi.org/10.17233/sosyoekonomi.2021.04.16
Cited By: 2

Abstract

Reducing income inequality is vital for sustainable development. Financial development can be an essential policy tool for reducing income inequality. In this study, the effects of financial development on income inequality in the Turkish economy are investigated in the context of the Financial Kuznets Curve Hypothesis. In the empirical part of the study, the series related to the financial development measures developed by the IMF and the series calculated with the University of Texas Inequality Project (UTIP) Data Set for income inequality is used. As a result of econometric analyzes made by considering structural breaks, the existence of a long-term co-integration relationship could not be determined. These findings show that the Financial Kuznets Curve hypothesis is not valid in Turkey in the period under consideration.

Keywords

Financial Kuznets Curve Financial Development Income Inequality

References

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  • Akalın, G. vd. (2018), “Türkiye’de Gelir Dağılımı ve Ekonomik Büyüme Arasındaki İlişki: ARDL Sınır Testi Yaklaşımı”, Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 20(4), 59-76.
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  • Altıntaş, N. & M. Çalışır (2018), “Finansal Gelişmenin Bankacılık ve Sermaye Piyasası Bağlamında Gelir”, Trakya Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 7(1), 81-97.
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  • Azam, M. & S.A. Raza (2018), “Financial Sector Development and Income Inequality in ASEAN-5 Countries: Does Financial Kuznets Curve Exists?”, Global Business and Economics Review, 20(1), 88-114.
  • Baiardi, D. & C. Morana (2016), “The Financial Kuznets Curve: Evidence for the Euro Area”, Journal of Empirical Finance, 39, 265-269.
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  • Bradford, D.F. et al. (2005), “The Environmental Kuznets Curve: Exploring a Fresh Specification”, Contributions to Economic Analysis & Policy, 4(1), 1-28.
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  • Dumrul, C. (2010), “Finansal Sistemin Gelişimi ve Ekonomik Büyüme: Teori ve Türkiye Uygulaması”, Yayınlanmamış Doktora Tezi, Erciyes Üniversitesi S.B.E.
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  • Galor, O. & J. Zeira (1993), “Income Distribution and Macroeconomics”, Review of Economic Studies, 60(1), 35-42.
  • Greenwood, J. & B. Jovanovic (1990), “Financial Development, Growth, and the Distribution of Income”, Journal of Political Economy, 98(5), 1076-1107.
  • Greenwood, J. & B.D. Smith (1997), “Financial Markets in Development, and the Development of Financial Markets” Journal of Economic Dynamics and Control, 21(1), 145-181.
  • Gregory, A.W. & B.E. Hansen (1996), “Residual-Based Tests for Cointegration in Models With Regime Shifts”, Journal of Econometrics, 70(1), 99-126.
  • Günal, M. (2001), Merkez Bankasının Değişen Rolü ve Para Politikası Uygulamaları, İstanbul: İMKB Yayınları.
  • Gunes, S. (2007), “Functional Income Distribution in Turkey: A Cointegration and VECM Analysis”, Journal of Economic and Social Research, 9(2), 23-36.
  • Hatemi-J, A. (2008), “Tests for Cointegration with Two Unknown Regime Shifts with an Application to Financial Market Integration”, Empir Econ, 35, 497-505.
  • Hepsağ, A. (2017), “Finansal Kuznets Eğrisi Hipotezi: G-7 Ülkeleri Örneği”, SGD-Sosyal Güvenlik Dergisi, 7(2), 135-156.
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  • Jauch, S. & S. Watzka (2016), “Financial Development and Income Inequality: A Panel Data Approach” Empirical Economics, 51(1), 291-314.
  • Johnston, J. & J. Dinardo (1997), Econometric Methods (4. Baskı), New York: McGraw-Hill.
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  • Lee, J. & M.C. Strazicich (2003), “Minimum Lagrange Multiplier Unit Root Test with Two Structural Breaks”, The Review of Economics and Statistics, 85(4), 1082-1089.
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There are 80 citations in total.

Details

Primary Language Turkish
Subjects Economics
Journal Section Articles
Authors

Cüneyt Dumrul 0000-0002-6787-2001

Salih Çağrı İlkay 0000-0002-1996-7487

Yasemin Dumrul 0000-0001-5961-2931

Publication Date October 31, 2021
Submission Date January 29, 2021
Published in Issue Year 2021 Volume: 29 Issue: 50

Cite

APA Dumrul, C., İlkay, S. Ç., & Dumrul, Y. (2021). Finansal Kuznets Eğrisi Hipotezi: Yapısal Kırılmalı Eş-bütünleşme Testleri ile Türk Ekonomisine İlişkin Ampirik Bir Analiz. Sosyoekonomi, 29(50), 337-359. https://doi.org/10.17233/sosyoekonomi.2021.04.16
AMA Dumrul C, İlkay SÇ, Dumrul Y. Finansal Kuznets Eğrisi Hipotezi: Yapısal Kırılmalı Eş-bütünleşme Testleri ile Türk Ekonomisine İlişkin Ampirik Bir Analiz. Sosyoekonomi. October 2021;29(50):337-359. doi:10.17233/sosyoekonomi.2021.04.16
Chicago Dumrul, Cüneyt, Salih Çağrı İlkay, and Yasemin Dumrul. “Finansal Kuznets Eğrisi Hipotezi: Yapısal Kırılmalı Eş-bütünleşme Testleri Ile Türk Ekonomisine İlişkin Ampirik Bir Analiz”. Sosyoekonomi 29, no. 50 (October 2021): 337-59. https://doi.org/10.17233/sosyoekonomi.2021.04.16.
EndNote Dumrul C, İlkay SÇ, Dumrul Y (October 1, 2021) Finansal Kuznets Eğrisi Hipotezi: Yapısal Kırılmalı Eş-bütünleşme Testleri ile Türk Ekonomisine İlişkin Ampirik Bir Analiz. Sosyoekonomi 29 50 337–359.
IEEE C. Dumrul, S. Ç. İlkay, and Y. Dumrul, “Finansal Kuznets Eğrisi Hipotezi: Yapısal Kırılmalı Eş-bütünleşme Testleri ile Türk Ekonomisine İlişkin Ampirik Bir Analiz”, Sosyoekonomi, vol. 29, no. 50, pp. 337–359, 2021, doi: 10.17233/sosyoekonomi.2021.04.16.
ISNAD Dumrul, Cüneyt et al. “Finansal Kuznets Eğrisi Hipotezi: Yapısal Kırılmalı Eş-bütünleşme Testleri Ile Türk Ekonomisine İlişkin Ampirik Bir Analiz”. Sosyoekonomi 29/50 (October 2021), 337-359. https://doi.org/10.17233/sosyoekonomi.2021.04.16.
JAMA Dumrul C, İlkay SÇ, Dumrul Y. Finansal Kuznets Eğrisi Hipotezi: Yapısal Kırılmalı Eş-bütünleşme Testleri ile Türk Ekonomisine İlişkin Ampirik Bir Analiz. Sosyoekonomi. 2021;29:337–359.
MLA Dumrul, Cüneyt et al. “Finansal Kuznets Eğrisi Hipotezi: Yapısal Kırılmalı Eş-bütünleşme Testleri Ile Türk Ekonomisine İlişkin Ampirik Bir Analiz”. Sosyoekonomi, vol. 29, no. 50, 2021, pp. 337-59, doi:10.17233/sosyoekonomi.2021.04.16.
Vancouver Dumrul C, İlkay SÇ, Dumrul Y. Finansal Kuznets Eğrisi Hipotezi: Yapısal Kırılmalı Eş-bütünleşme Testleri ile Türk Ekonomisine İlişkin Ampirik Bir Analiz. Sosyoekonomi. 2021;29(50):337-59.

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