Socio-Economic Structure and An Empirical Application on the Unemployment-Economic Growth Nexus: The Case of Denmark

Year 2024, Issue: 64, 120 - 140, 30.06.2024

Seher Suluk

https://doi.org/10.53568/yyusbed.1435978

Abstract

Macroeconomic indicators are the basic indicators that reveal the economic performance of a country. Economic growth and unemployment status are among the most important macroeconomic indicators that show the economic performance of countries. While economic growth is among the priority targets of every country, unemployment is among the most significant problems faced by countries as it negatively affects individuals and the society economically, socially and psychologically. Denmark is a highly developed country with a high standard of living and well-being. Therefore, the aim of this study is to reveal the socio-economic performance of Denmark by examining the socio-economic structure with various macroeconomic indicators, and then to analyze empirically the relationship between unemployment and economic growth. In the study, which takes into account the period 1980-2021, Granger causality analysis was applied to test the causal relationship between the variables, and then regression analysis was performed with the least squares method. Empirical findings obtained from Granger causality analysis showed that there is a bidirectional causality relationship between unemployment and economic growth. Besides, according to the results obtained from the regression analysis performed with the least squares method, a 1% increase in economic growth in Denmark reduces unemployment by 6.32%.

Keywords

Macroeconomic Indicators, Economic Growth, Unemployment, Denmark

Sosyo-Ekonomik Yapı ve İşsizlik-Ekonomik Büyüme İlişkisi Üzerine Ampirik Bir Uygulama: Danimarka Örneği

Abstract

Makroekonomik göstergeler, bir ülkenin ekonomik performansını ortaya koyan temel göstergelerdir. Ekonomik büyüme ve işsizlik durumu da ülkelerin ekonomik performansını gösteren en önemli makroekonomik göstergeleri arasında yer almaktadır. Ekonomik büyüme her ülkenin öncelikli hedefleri arasında yer alırken, işsizlik olgusu bireyleri ve toplumu ekonomik, sosyal ve psikolojik yönden olumsuz etkilediği için, ülkelerin karşı karşıya olduğu en önemli sorunlar arasındadır. Danimarka, yaşam standartları ve refah seviyesi yüksek, oldukça gelişmiş bir ülkedir. Dolayısıyla bu çalışmada amaç, öncelikle Danimarka’nın sosyo-ekonomik yapısını çeşitli makroekonomik göstergelerle inceleyerek sosyo-ekonomik performansını ortaya koymak, daha sonra işsizlik ile ekonomik büyüme arasındaki ilişkiyi ampirik olarak analiz etmektir. 1980-2021 dönemini dikkate alan çalışmada, değişkenler arasındaki nedensel ilişkiyi test etmek amacıyla Granger nedensellik analizi uygulanmış, ardından en küçük kareler yöntemi ile regresyon analizi yapılmıştır. Granger nedensellik analizinden elde edilen ampirik bulgular, işsizlik ile ekonomik büyüme arasında çift yönlü nedensellik ilişkisinin olduğunu göstermiştir. Bununla birlikte, en küçük kareler yöntemiyle gerçekleştirilen regresyon analizinden elde edilen sonuçlara göre, Danimarka’da ekonomik büyümede meydana gelen %1’lik bir artış işsizlik oranını %6,32 azaltmaktadır.

Keywords

Makroekonomik Göstergeler, Ekonomik Büyüme, İşsizlik, Danimarka

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