Research Article
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Year 2017, Issue: 18, 1 - 22, 01.01.2017
https://doi.org/10.18092/ulikidince.279888

Abstract

References

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  • Corbin, A. (2001). “Country Specific Effect in The Feldstein-Horioka Paradox: A Panel Data Analysis”. Economics Letters, 72(3), 297-302.
  • De Vita, G., and Abbott A .(2002). “Are Saving and Investment Cointegrated? An ARDL Bounds Testing Approach.” Economics Letters, 77(2), (293-299.
  • Di Iorio, F., and Fachin, S. (2007). “Testing for Breaks in Cointegrated Panels-With an Application to The Feldstein-Horioka Puzzle”. Economics: The Open-Access, Open-Assessment E-Journal, 1(14), 1-23
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  • Fouquau, J., Hurlin, C., and Rabaud, I. (2008). “The Feldstein-Horioka Puzzle: A Panel Smooth Transition Regression Approach”. Economic Modelling, 25, 284-299.
  • Georgopoulos, G., and Hejazi, W. (2009). “The Feldstein–Horioka Puzzle Revisited: is The Home-Bias Much Less?”. International Review of Economics and Finance, 18(2), 341-350.
  • Ghosh, D., and Dutt, S. (2011). “International Capital Mobility and The Feldstein-Horioka Puzzle: An Empirical Examination for The G5 Nations”. Southwestern Economic Review, 38(1), 27-36.
  • Golub, S. S. (1990). “International Capital Mobility: Net vs Gross Stocks and Flows” Journal of International Money and Finance, 9, 424-439
  • Göçer, İ., Alataş, S., ve Peker, O. (2013). “Yatırım-Tasarruf İlişkisi: OECD Ülkeleri İçin Yeni Nesil Panel Eşbütünleşme Analizi”. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, EYİ 2013 Özel Sayısı, 59-78.
  • Göçer, İ., Gerede, C., ve Kutbay, H. (2014). “Dış Ticarette Rekabet Gücünün Belirleyicisi Olarak Ar-Ge ve İnovasyon: Ekonometrik Bir Analiz” 15th International Symposium on Econometrics, Operations Research and Statistics 22-25 May 2014 Suleyman Demirel University, Isparta, Turkey.
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TASARRUF-YATIRIM VE SERMAYE HAREKETLİLİĞİNİN ANALİZİ: YÜKSELEN PİYASA EKONOMİLERİ ÜZERİNDE BİR UYGULAMA (1992-2014)

Year 2017, Issue: 18, 1 - 22, 01.01.2017
https://doi.org/10.18092/ulikidince.279888

Abstract

ÖZ

Ülkelerin sürdürülebilir bir ekonomik büyüme ivmesini yakalayabilmeleri üzerinde yurtiçi tasarruflar ile yurtiçi yatırımlar arasındaki ilişkilerin varlığı/nasıllığı son derece belirleyici bir rol oynamaktadır. Nitekim ekonomik büyüme verimlilik artışlarından bağımsız olarak yatırımlarla gerçekleşmekte, yatırımlar ise ancak tasarruflarla karşılanabilmektedir. Bu noktada, yurtiçi tasarrufların yurtiçi yatırımları karşılama oranının ya da yurtiçi yatırımların yabancı tasarruflara olan bağımlılığının belirlenmesi gerekmektedir. Bu doğrultuda çalışmada, yurtiçi tasarruflar ile yurtiçi yatırımlar arasındaki ilişkilerin uluslararası arenada BRICS, MINT ve Kırılgan Beşli olarak lanse edilen yükselen piyasa ekonomilerinde Feldstein-Horioka Hipotezi çerçevesinde, 1992-2014 dönemine ait verilerle ve yatay kesit bağımlılığını dikkate alan yeni nesil panel veri analizi metodolojisi ile incelenmesi amaçlanmıştır. Çalışma sonucunda, tanımlanan ülke gruplarında yurtiçi tasarrufların yurtiçi yatırımları karşılama oranlarının, yani sermaye hareketliliğinin derecesinin ülke gruplarına göre önemli ölçüde değiştiği belirlenmiştir. Bununla birlikte, çalışmada BRICS, MINT ve Kırılgan Beşli ülke grupları üzerinde Feldstein-Horioka Hipotezinin geçerli olmadığı, aksine bu ülkelerde Feldstein-Horioka Paradoksunun nispeten sürmekte olduğu sonucuna ulaşılmıştır.

Anahtar Kelimeler: Yurtiçi Tasarruf-Yatırım, Feldstein-Horioka Hipotezi, Yeni Nesil Panel Veri Analizi.

JEL Sınıflandırması: C5, C23, E20, F43.

References

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  • De Vita, G., and Abbott A .(2002). “Are Saving and Investment Cointegrated? An ARDL Bounds Testing Approach.” Economics Letters, 77(2), (293-299.
  • Di Iorio, F., and Fachin, S. (2007). “Testing for Breaks in Cointegrated Panels-With an Application to The Feldstein-Horioka Puzzle”. Economics: The Open-Access, Open-Assessment E-Journal, 1(14), 1-23
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  • Feldstien, M., and Bacchetta, P. (1989). “National Saving and International Investment”. NBER Working Paper Series, Paper No: 3164.
  • Feldstien, M., and Horioka, C. (1980). “Domestic Saving and International Capital Flows”. Economic Journal, 90: 314-29.
  • Fouquau, J., Hurlin, C., and Rabaud, I. (2008). “The Feldstein-Horioka Puzzle: A Panel Smooth Transition Regression Approach”. Economic Modelling, 25, 284-299.
  • Georgopoulos, G., and Hejazi, W. (2009). “The Feldstein–Horioka Puzzle Revisited: is The Home-Bias Much Less?”. International Review of Economics and Finance, 18(2), 341-350.
  • Ghosh, D., and Dutt, S. (2011). “International Capital Mobility and The Feldstein-Horioka Puzzle: An Empirical Examination for The G5 Nations”. Southwestern Economic Review, 38(1), 27-36.
  • Golub, S. S. (1990). “International Capital Mobility: Net vs Gross Stocks and Flows” Journal of International Money and Finance, 9, 424-439
  • Göçer, İ., Alataş, S., ve Peker, O. (2013). “Yatırım-Tasarruf İlişkisi: OECD Ülkeleri İçin Yeni Nesil Panel Eşbütünleşme Analizi”. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, EYİ 2013 Özel Sayısı, 59-78.
  • Göçer, İ., Gerede, C., ve Kutbay, H. (2014). “Dış Ticarette Rekabet Gücünün Belirleyicisi Olarak Ar-Ge ve İnovasyon: Ekonometrik Bir Analiz” 15th International Symposium on Econometrics, Operations Research and Statistics 22-25 May 2014 Suleyman Demirel University, Isparta, Turkey.
  • Göçer, İ., Mercan, M., ve Hotunluoğlu, H. (2012). “Seçilmiş OECD Ülkelerinde Cari İşlemler Açığının Sürdürülebilirliği: Yatay Kesit Bağımlılığı Altında Çoklu Yapısal Kırılmalı Panel Veri Analizi”. Maliye dergisi, 163, 449-470.
  • Hadri, K. (2000). “Testing for Stationarity in Heterogeneous Panel Data”. The Econometrics Journal, 3(2), 148-161.
  • Hadri, K., and Kurozumi, E. (2012). “A Simple Panel Stationarity Test in The Presence of Serial Correlation And a Common Factor”. Economics Letters, 115(1), 31-34.
  • Harberger, A. (1980). “Vignettes on The World Capital Market”. American Economic Review, 70, 331-337.
  • Herwartz, H., and Xu, F. (2010). “A Functional Coefficient Model View of The Feldstein-Horioka Puzzle”. Journal of International Money and Finance, 29(1), 37-54.
  • Ho, T. W. (2002). “The Feldstein–Horioka Puzzle Revisited”. Journal of International Money and Finance, 21, 555-564.
  • Hussein, K. A. (1998). “International Capital Mobility in OECD Countries: The Feldstein-Horioka ‘Puzzle’ Revisited”. Economics Letters, 59, 237-242.
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There are 90 citations in total.

Details

Journal Section Articles
Authors

İbrahim Hüseyni

Ömer Yalçınkaya

Publication Date January 1, 2017
Published in Issue Year 2017 Issue: 18

Cite

APA Hüseyni, İ., & Yalçınkaya, Ö. (2017). TASARRUF-YATIRIM VE SERMAYE HAREKETLİLİĞİNİN ANALİZİ: YÜKSELEN PİYASA EKONOMİLERİ ÜZERİNDE BİR UYGULAMA (1992-2014). Uluslararası İktisadi Ve İdari İncelemeler Dergisi(18), 1-22. https://doi.org/10.18092/ulikidince.279888

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