TY - JOUR T1 - Finansal Kalkınma ve Ekonomik Özgürlük: Yeni Sanayileşen Ülkeler Örneği TT - Financial Development and Economic Freedom: Evidence from Newly Industrialized Countries AU - Benli, Muhammed AU - Güneş, Fatih PY - 2025 DA - July Y2 - 2025 DO - 10.19168/jyasar.1603888 JF - Yaşar Üniversitesi E-Dergisi PB - Yaşar Üniversitesi WT - DergiPark SN - 1305-970X SP - 454 EP - 473 VL - 20 IS - 79 LA - tr AB - Bu çalışma, yeni sanayileşmiş dokuz ülkede (Brezilya, Çin, Hindistan, Meksika, Malezya, Filipinler, Güney Afrika, Tayland ve Türkiye) 2000-2021 dönemi için finansal kalkınma ile ekonomik özgürlük arasındaki ilişkiyi incelemektedir. Finansal kalkınmanın ekonomik özgürlüğü üzerindeki etkilerinin tespiti amacıyla Sabit Etkiler (FE) ve Rassal Etkiler (RE) modelleri kullanılmıştır. Ayrıca, Pesaran ve Yamagata (2008) homojenlik testi ve IPS birim kök testi uygulanmıştır. Çalışmada kontrol değişkenleri olarak devlet harcamaları, enflasyon ve kişi başına GSYİH kullanılmıştır. Elde edilen ampirik sonuçlar, kamu harcamalarının ve enflasyonun ekonomik özgürlük üzerinde negatif ve anlamlı bir etkisi olduğunu, finansal kalkınmanın ise pozitif bir etkisinin bulunduğunu göstermektedir. Ancak, IPS birim kök testi sonuçlarına göre, analizlerde kullanılan ana değişkenlerden birisinin I(2) olması sebebiyle eşbütünleşme testi yapmak mümkün değildir. Bu durum, analizlerde kısa ve orta vadeli dinamiklere odaklanmanın daha uygun olduğunu göstermektedir. Sonuçlar, aşırı devlet müdahalesi ve enflasyonun ekonomik özgürlüğü kısıtlayıcı etkilerini vurgularken, finansal kalkınmanın ve ekonomik büyümenin özgürlükleri artırdığına dair bulgular sunmaktadır. Örneklem ülkelerindeki hükümetlerin, özel sektörü destekleyen politikalar ile piyasa mekanizmalarını bozmadan kamu harcamalarını yönetmeleri gerektiği ifade edilebilir. Bu çalışma, özellikle yeni sanayileşen ülkeler için finansal kalkınma ve ekonomik özgürlük arasındaki ilişkiyi aydınlatmakta ve politika yapıcılar için önemli çıkarımlar sunmaktadır. KW - Finansal Kalkınma KW - Ekonomik Özgürlük KW - Panel Veri Modelleri N2 - This study examines the relationship between financial development and economic freedom in nine newly industrialized countries (Brazil, China, India, Mexico, Malaysia, the Philippines, South Africa, Thailand, and Türkiye) over the period 2000-2021. Fixed Effects (FE) and Random Effects (RE) models were employed to assess the impact of financial development on economic freedom. Additionally, Pesaran and Yamagata (2008) homogeneity test and IPS unit root test were applied. Government expenditures, inflation, and GDP per capita were used as control variables. The empirical results indicate that government expenditures and inflation have a statistically significant negative effect on economic freedom, while financial development has a positive effect. However, the IPS unit root test results show that one of the main variables in the analyses is I(2), so that cointegration test is not possible. Therefore, the focus of the analysis is on short- and medium-term dynamics. The findings highlight that excessive government intervention and inflation tend to restrict economic freedom, whereas financial development and economic growth promote it. The study suggests that governments in sample countries should carefully manage public expenditures without undermining market mechanisms and continue fostering private sector freedom. This research contributes to the understanding of the financial development-economic freedom nexus, especially in newly industrialized countries, and offers valuable insights for policymakers. CR - Abate, C. A. (2022). 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