GEÇİŞ EKONOMİLERİNDE SERMAYE KAÇIŞLARININ EKONOMİK VE KURUMSAL BELİRLEYİCİLERİ

Year 2016, Issue: 16, 171 - 196, 16.12.2015

Nuran Öztürk Seyfettin Artan

https://doi.org/10.18092/ijeas.25125

Cited By: 2

Abstract

Sermaye kaçışları, tanımı, ölçülmesi, belirleyicileri ve etkileri açısından teorik ve ampirik iktisat yazınının temel tartışma konularından biridir. Bu çalışmada, sermaye kaçışlarının ekonomik ve kurumsal belirleyicileri 26 geçiş ekonomisi için panel veri analiz yöntemi kullanılarak test edilmiştir. Elde edilen sonuçlara göre, bakiye ve sıcak para yöntemleri kullanılarak ölçülen sermaye kaçışlarının belirleyicileri, sermaye kaçışı ölçüm yöntemine göre farklılık arz etmektedir. Sıcak para yöntemine göre ölçülen sermaye kaçışlarının temel belirleyicisi ekonomik faktörlerdir. Buna karşılık, bakiye yöntemine göre ölçülen sermaye kaçışları ekonomik faktörlerden ziyade kurumsal faktörler tarafından belirlenmektedir.

JEL Sınıflandırması: F32, B25, C33, O11

Anahtar Kelimeler: Sermaye Kaçışı, Kurumlar, Panel Veri Analizi

 

Economic and Institutional Determinants of Capital Flight in Transition Economies

ABSTRACT

Capital flight is one of the main discussion points in the theoretical and empirical economic literature in terms of its definition, measurement, determinants and impacts. In this paper economic and institutional determinants of capital flight are examined using panel data for 26 transition economies. Our empirical results show that determinants of capital flight derived from residual and hot money methods are different from each other base upon measuring method. Main determinants of capital flight for hot money method are economic variables. On the other hand, capital flight measured by using residual method is affected by institutional variables rather than economic variables.

JEL Classification: F32, B25, C33, O11

Keywords: Capital Flight, Institutions, Panel Data Analysis

Keywords

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