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BRICS-T ÜLKELERİNDE GELİR EŞİTSİZLİĞİNİN TOPLAM FAKTÖR VERİMLİLİĞİ ÜZERİNE ETKİLERİ: EKONOMETRİK BİR ANALİZ

Yıl 2022, Sayı: 42, 706 - 733, 29.12.2022
https://doi.org/10.14520/adyusbd.1113281

Öz

Gelir eşitsizliği, bir ülkedeki bireyler, bir popülasyonu oluşturan gruplar veya ülkeler arasındaki gelir dağılımının düzensiz olduğunu ifade eder. Gelir eşitsizliğini azaltmak, sadece daha adil bir gelir dağılımı elde etmek ve artan gelir eşitsizliğinin yarattığı sosyal kaygıları gidermek için değil, aynı zamanda ekonomik büyüme ve toplam faktör verimliliğinin (TFV) artırılması açısından iyi bir ortam sağlamak için de önemlidir. Bu çalışmada, BRICS-T ülkelerinde 1994-2019 dönemi için gelir eşitsizliği ile TFV arasındaki ilişkinin belirlenmesi amaçlanmıştır. Üç aşamalı bir ampirik yöntemin kullanıldığı çalışmada Panel FMOLS (Fully Modified Ordinary Least Squares) ve DOLS (Dynamic Ordinary Least Squares) tahmincilerinden elde edilen sonuçlar, gelir eşitsizliğinin TFV’yi negatif etkilediğini göstermektedir. Çalışmanın bulgularına dayanarak, gelir eşitsizliğinin negatif etkilerini en aza indirebilmek amacıyla bazı politika önerileri sunulabilir. BRICS-T ülkelerinde öncelikle gelir dağılımı adaletsizliğini azaltmayı amaçlayan uzun vadeli makroekonomik politikalar oluşturulmalı ve iyi koordine edilmelidir. Bu ülkelerde politika yapıcılar, daha adil bir gelir dağılımı sağlamak için artan oranlı vergi ve asgari ücret gibi yasal uygulamaların etkilerini dikkatle izlemelidirler.

Kaynakça

  • Abramovitz, M. (1956). “Resource and output trends in the United States since 1870.” National Bureau of Economic Research, Occasional Paper 52.
  • Aghion, P. ve Howitt, P. (1998). Endogenous Growth Theory. Cambridge, Mass, MIT Press, London, England.
  • Akinlo, A. E. ve Adejumo, O. O. (2016). “Determinants of total factor productivity growth in Nigeria, 1970-2009.” Global Business Review, 17(2): 257-270.
  • Alesina, A. ve Perotti, R. (1996). “Income distribution, political instability and investment.” European Economic Review, 40(6): 1203-1228.
  • Alesina, A. ve Rodrik, D. (1994). “Distributive politics and economic growth.” Quarterly Journal of Economics, 109(2): 465-490.
  • Antonelli, C. ve Gehringer, A. (2017). “Technological change, rent and income inequalities: a Schumpeterian approach.” Technological Forecasting & Social Change, 115: 85-98.
  • Arazmuradov, A., Martini, G. ve Scotti, D. (2014). “Determinants of total factor productivity in former Soviet Union economies: A stochastic frontier approach”. Economic Systems, 38(1): 115-135.
  • Ascari, G. ve Di Cosmo, V. (2004). “Determination of total factor productivity in Italian regions.” Quaderni di Dipartimento-EPMQ, No. 170.
  • Ateş, S. (2012). “Türkiye imalat sanayinde toplam faktör verimliliği ve uzun dönem büyüme ilişkileri.” Türkiye Ekonomi Kurumu Tartışma Metni 2012/70.
  • Baltagi, H. (2005). Econometric Analysis of Panel Data (Third Edition). West Sussex: John Wiley and Sons, England.
  • Baltagi, H. (2013). Econometric Analysis of Panel Data (Fifth Edition). West Sussex: John Wiley and Sons, England.
  • Biatour, B., Dumont, M. ve Kegels, C. (2011). “The determinants of industry-level total factor productivity in Belgium.” Federal Planning Bureau, Working Paper 7-11.
  • Boubellouta, B. ve Kusch-Brandt, S. (2021). “Relationship between economic growth and mismanaged e-waste: panel data evidence from 27 EU countries analyzed under the Kuznets curve hypothesis.” Waste Management, 120: 85-97.
  • Clarke, G. (1995). “More evidence on income distribution and growth.” Journal of Development Economics, 47: 403-427.
  • Coe, D. ve Helpman, E. (1995). “International R&D spillovers.” European Economic Review, 39(5): 859-887.
  • Deininger, K. ve Squire, L. (1998). “New ways of looking at old issues in equality and growth.” Journal of Development Economics, 57(2): 259-287.
  • DiPietro, R. (2014). “Productivity growth and income inequality.” Journal of Economics and Development Studies, 2(3): 01-08.
  • Espoir, D. K. ve Ngepah, N. (2021a). “Income distribution and total factor productivity: A cross-country panel cointegration analysis.” International Economics and Economic Policy, 18: 661-698.
  • Espoir, D. K. ve Ngepah, N. (2021b). “The effects of inequality on total factor productivity across districts in South Africa: A spatial econometric analysis.” GeoJournal, 86(6): 2607-2638.
  • Fadiran, D. ve Akanbi, O.A. (2017). “Institutions and other determinants of total factor productivity in Sub-Saharan Africa.” ERSA working paper, 714.
  • Forbes, K. (2000). “A reassessment of the relationship between inequality and growth.” American Economic Review, 90(4): 869-887.
  • Frank, M. (2008). “Inequality and growth in the United States: Evidence from a new state-level panel of income inequality measures.” Western Economic Association International, 47(1): 55-68.
  • Freeman, R.B. ve Medoff, J.L. (1984). What Do Unions Do? Basic Books, New York.
  • Fuentes, R., Mishrab, T., Scaviac, J. ve Parhi, M. (2014). “On optimal long-term relationship between TFP, institutions, and income inequality under embodied technical progress.” Structural Change and Economic Dynamics, 31: 89-100.
  • Gao, Y., Zhang, M. ve Zheng, J. (2021). “Accounting and determinants analysis of China's provincial total factor productivity considering carbon emissions.” China Economic Review, 65, 101576.
  • Gömleksiz, M., Şahbaz, A. ve Mercan, B. (2017). “Toplam faktör verimliliğinin belirleyicileri üzerine ampirik bir inceleme: Seçilmiş OECD ülkeleri örneği.” Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, 12(2): 65-82.
  • Grafton, R.Q., Knowles, S. ve Owen, P. D. (2001). “Social divergence and economic performance.” CREDIT Research Paper, No. 01/08.
  • Grossman, G.M. ve Helpman, E. (1991). “Quality ladders in the theory of growth.” The Review of Economic Studies, 58(1): 43-61.
  • Hayes, K.J., Nieswia, M., Slottje, D.J., Redfearn, M. ve Wolff, E.N. (1994). “Productivity and income inequality growth rates in the United States.” Contributions to Economic Analysis, 223: 299-327.
  • https://wid.world/news-article/2020-regional-updates/ 30 Aralık 2021 tarihinde Dünya Eşitsizlik veritabanından alınmıştır.
  • https://www.rug.nl/ggdc/productivity/pwt/?lang=en 30 Aralık 2021 tarihinde University of Groningen sitesinden alınmıştır.
  • Im, K. S., Pesaran, M. H. ve Shin, Y. (2003). “Testing for unit roots in heterogeneous panels.” Journal of Econometrics, 115: 53-74.
  • Kao, C. ve Chiang, M.H. (2001). On the estimation and inference of a cointegrated regression in panel data. Baltagi, B.H., Fomby, T.B. and Carter Hill, R. (Ed.), Nonstationary Panels, Panel Cointegration, and Dynamic Panels (Advances in Econometrics, Vol. 15), Emerald Group Publishing Limited, Bingley, 179-222.
  • Karakurt, I. (2021). “Modelling and forecasting the oil consumptions of the BRICS-T countries.” Energy, 220, 119720.
  • Khan, S. U. (2006). “Macro Determinants of Total Factor Productivity in Pakistan.” SBP Research Bulletin, 2(2): 383-401.
  • Kim, C. ve Sakamoto, A. (2008). “Does inequality increase productivity? Evidence from US manufacturing industries, 1979 to 1996.” Work and Occupations, 35(1): 85-114.
  • Krugman, P. (1981). “Intraindustry specialization and the gains from trade.” Journal of Political Economy, 89(5): 959-973.
  • Kuznets, S. (1955). “Economic growth and income inequality.” American Economic Review, 45: 1-28.
  • Levin, A., Lin, C-F. ve Chu, C-S. J. (2002). “Unit root tests in panel data: asymptotic and finite-sample properties.” Journal of Econometrics, 108: 1-24.
  • Li, H. ve Zou, H. (1998). “Income inequality is not harmful for growth: theory and evidence.” Review of Development Economics, 2(3): 318-334.
  • Lloyd-Ellis, H. (2003). “On the impact of inequality on productivity growth in the short and long term: a synthesis.” Canadian Public Policy/Analyse de Politiques, 29: 65-86.
  • Mahy, B., Rycx, F. ve Volral, M. (2011). “Wage dispersion and firm productivity in different working environments.” British Journal of Industrial Relations, 49(3): 460-485.
  • Mo, P. H. (2000). “Income inequality and economic growth.” Kyklos, 53(3): 293-316.
  • Nachega, J. C. ve Fontaine, T. (2006). “Economic growth and total factor productivity in Niger”. IMF Working Paper, WP/06/208.
  • Nelson, R.R. ve Phelps, E.S. (1966). “Investment in humans, technological diffusion, and economic growth.” American Economic Review, 56, 1/2: 69-75.
  • Olomola, P. A. ve Osinubi, T. T. (2018). “Determinants of total factor productivity in Mexico, Indonesia, Nigeria, and Turkey (1980–2014).” Emerging Economy Studies, 4(2): 192-217.
  • Pede, V. O., Barboza, G., Sparks, A. H. ve McKinley, J. (2018). “The inequality-growth link revisited with spatial considerations: The case of provinces in the Philippines.” Journal of the Asia Pacific Economy, 23(3): 411-427.
  • Pedroni, P. (1999). “Critical values for cointegration tests in heterogeneous panels with multiple regressors.” Oxford Bulletin of Economics and Statistics, 61: 653-670.
  • Pedroni, P. (2000). “Fully modified OLS for heterogeneous cointegrated panels.” Advances in Econometrics, 15: 93-130.
  • Romer, P.M. (1990a). “Endogenous technological change.” Journal of Political Economy, 98, 5(2): 71-102.
  • Romer, P.M. (1990b). “Human capital and growth: theory and evidence.” Carnegie-Rochester Conference Series on Public Policy, 32: 251-286.
  • Sequeira, T. N., Ferreira-Lopes, F. ve Santos, M. (2017). “Income inequality, TFP, and human capital.” Economic Record, 939(300): 89-111.
  • Solow, R. (1956). “A Contribution to the theory of economic growth.” The quarterly journal of economics, 70(1): 65-94.
  • Solow, R. (1957). “Technical change and the aggregate production function.” Review of Economics and Statistics, 39(3): 312-320.
  • Wei, Z. ve Hao. R. (2011). “The role of human capital in China’s total factor productivity growth: A cross-province analysis.” The Developing Economies, 49(1): 1-35.
  • Yamamura, E. ve Shin, I. (2009). “Effects of income inequality on growth through efficiency improvement and capital accumulation.” International Economic Journal, 23(2): 237-258.

THE EFFECTS OF INCOME INEQUALITY ON TOTAL FACTOR PRODUCTIVITY IN BRICS-T COUNTRIES: AN ECONOMETRIC ANALYSIS

Yıl 2022, Sayı: 42, 706 - 733, 29.12.2022
https://doi.org/10.14520/adyusbd.1113281

Öz

Income inequality refers to the unequal distribution of national income in an economy. Reducing income inequality is important not only to achieve a more equitable income distribution and to address social concerns caused by increasing income inequality, but also to provide a good ambiance in terms of economic growth and increasing total factor productivity (TFP). In this study, it is aimed to determine the relationship between income inequality and TFP in BRICS-T countries for the period 1994-2019. In the study, in which a three-stage empirical procedure was used, the results obtained from the Panel FMOLS and DOLS estimators show that income inequality negatively affects TFP. Based on the findings of the study, some policy recommendations can be made to minimize the negative effects of income inequality. In BRICS-T countries, long-term macroeconomic policies aiming to reduce income inequality should be established and good organized. Policy makers in these countries should carefully monitor the effects of legal practices such as progressive taxes and minimum wages to ensure a more equitable distribution of income.

Kaynakça

  • Abramovitz, M. (1956). “Resource and output trends in the United States since 1870.” National Bureau of Economic Research, Occasional Paper 52.
  • Aghion, P. ve Howitt, P. (1998). Endogenous Growth Theory. Cambridge, Mass, MIT Press, London, England.
  • Akinlo, A. E. ve Adejumo, O. O. (2016). “Determinants of total factor productivity growth in Nigeria, 1970-2009.” Global Business Review, 17(2): 257-270.
  • Alesina, A. ve Perotti, R. (1996). “Income distribution, political instability and investment.” European Economic Review, 40(6): 1203-1228.
  • Alesina, A. ve Rodrik, D. (1994). “Distributive politics and economic growth.” Quarterly Journal of Economics, 109(2): 465-490.
  • Antonelli, C. ve Gehringer, A. (2017). “Technological change, rent and income inequalities: a Schumpeterian approach.” Technological Forecasting & Social Change, 115: 85-98.
  • Arazmuradov, A., Martini, G. ve Scotti, D. (2014). “Determinants of total factor productivity in former Soviet Union economies: A stochastic frontier approach”. Economic Systems, 38(1): 115-135.
  • Ascari, G. ve Di Cosmo, V. (2004). “Determination of total factor productivity in Italian regions.” Quaderni di Dipartimento-EPMQ, No. 170.
  • Ateş, S. (2012). “Türkiye imalat sanayinde toplam faktör verimliliği ve uzun dönem büyüme ilişkileri.” Türkiye Ekonomi Kurumu Tartışma Metni 2012/70.
  • Baltagi, H. (2005). Econometric Analysis of Panel Data (Third Edition). West Sussex: John Wiley and Sons, England.
  • Baltagi, H. (2013). Econometric Analysis of Panel Data (Fifth Edition). West Sussex: John Wiley and Sons, England.
  • Biatour, B., Dumont, M. ve Kegels, C. (2011). “The determinants of industry-level total factor productivity in Belgium.” Federal Planning Bureau, Working Paper 7-11.
  • Boubellouta, B. ve Kusch-Brandt, S. (2021). “Relationship between economic growth and mismanaged e-waste: panel data evidence from 27 EU countries analyzed under the Kuznets curve hypothesis.” Waste Management, 120: 85-97.
  • Clarke, G. (1995). “More evidence on income distribution and growth.” Journal of Development Economics, 47: 403-427.
  • Coe, D. ve Helpman, E. (1995). “International R&D spillovers.” European Economic Review, 39(5): 859-887.
  • Deininger, K. ve Squire, L. (1998). “New ways of looking at old issues in equality and growth.” Journal of Development Economics, 57(2): 259-287.
  • DiPietro, R. (2014). “Productivity growth and income inequality.” Journal of Economics and Development Studies, 2(3): 01-08.
  • Espoir, D. K. ve Ngepah, N. (2021a). “Income distribution and total factor productivity: A cross-country panel cointegration analysis.” International Economics and Economic Policy, 18: 661-698.
  • Espoir, D. K. ve Ngepah, N. (2021b). “The effects of inequality on total factor productivity across districts in South Africa: A spatial econometric analysis.” GeoJournal, 86(6): 2607-2638.
  • Fadiran, D. ve Akanbi, O.A. (2017). “Institutions and other determinants of total factor productivity in Sub-Saharan Africa.” ERSA working paper, 714.
  • Forbes, K. (2000). “A reassessment of the relationship between inequality and growth.” American Economic Review, 90(4): 869-887.
  • Frank, M. (2008). “Inequality and growth in the United States: Evidence from a new state-level panel of income inequality measures.” Western Economic Association International, 47(1): 55-68.
  • Freeman, R.B. ve Medoff, J.L. (1984). What Do Unions Do? Basic Books, New York.
  • Fuentes, R., Mishrab, T., Scaviac, J. ve Parhi, M. (2014). “On optimal long-term relationship between TFP, institutions, and income inequality under embodied technical progress.” Structural Change and Economic Dynamics, 31: 89-100.
  • Gao, Y., Zhang, M. ve Zheng, J. (2021). “Accounting and determinants analysis of China's provincial total factor productivity considering carbon emissions.” China Economic Review, 65, 101576.
  • Gömleksiz, M., Şahbaz, A. ve Mercan, B. (2017). “Toplam faktör verimliliğinin belirleyicileri üzerine ampirik bir inceleme: Seçilmiş OECD ülkeleri örneği.” Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, 12(2): 65-82.
  • Grafton, R.Q., Knowles, S. ve Owen, P. D. (2001). “Social divergence and economic performance.” CREDIT Research Paper, No. 01/08.
  • Grossman, G.M. ve Helpman, E. (1991). “Quality ladders in the theory of growth.” The Review of Economic Studies, 58(1): 43-61.
  • Hayes, K.J., Nieswia, M., Slottje, D.J., Redfearn, M. ve Wolff, E.N. (1994). “Productivity and income inequality growth rates in the United States.” Contributions to Economic Analysis, 223: 299-327.
  • https://wid.world/news-article/2020-regional-updates/ 30 Aralık 2021 tarihinde Dünya Eşitsizlik veritabanından alınmıştır.
  • https://www.rug.nl/ggdc/productivity/pwt/?lang=en 30 Aralık 2021 tarihinde University of Groningen sitesinden alınmıştır.
  • Im, K. S., Pesaran, M. H. ve Shin, Y. (2003). “Testing for unit roots in heterogeneous panels.” Journal of Econometrics, 115: 53-74.
  • Kao, C. ve Chiang, M.H. (2001). On the estimation and inference of a cointegrated regression in panel data. Baltagi, B.H., Fomby, T.B. and Carter Hill, R. (Ed.), Nonstationary Panels, Panel Cointegration, and Dynamic Panels (Advances in Econometrics, Vol. 15), Emerald Group Publishing Limited, Bingley, 179-222.
  • Karakurt, I. (2021). “Modelling and forecasting the oil consumptions of the BRICS-T countries.” Energy, 220, 119720.
  • Khan, S. U. (2006). “Macro Determinants of Total Factor Productivity in Pakistan.” SBP Research Bulletin, 2(2): 383-401.
  • Kim, C. ve Sakamoto, A. (2008). “Does inequality increase productivity? Evidence from US manufacturing industries, 1979 to 1996.” Work and Occupations, 35(1): 85-114.
  • Krugman, P. (1981). “Intraindustry specialization and the gains from trade.” Journal of Political Economy, 89(5): 959-973.
  • Kuznets, S. (1955). “Economic growth and income inequality.” American Economic Review, 45: 1-28.
  • Levin, A., Lin, C-F. ve Chu, C-S. J. (2002). “Unit root tests in panel data: asymptotic and finite-sample properties.” Journal of Econometrics, 108: 1-24.
  • Li, H. ve Zou, H. (1998). “Income inequality is not harmful for growth: theory and evidence.” Review of Development Economics, 2(3): 318-334.
  • Lloyd-Ellis, H. (2003). “On the impact of inequality on productivity growth in the short and long term: a synthesis.” Canadian Public Policy/Analyse de Politiques, 29: 65-86.
  • Mahy, B., Rycx, F. ve Volral, M. (2011). “Wage dispersion and firm productivity in different working environments.” British Journal of Industrial Relations, 49(3): 460-485.
  • Mo, P. H. (2000). “Income inequality and economic growth.” Kyklos, 53(3): 293-316.
  • Nachega, J. C. ve Fontaine, T. (2006). “Economic growth and total factor productivity in Niger”. IMF Working Paper, WP/06/208.
  • Nelson, R.R. ve Phelps, E.S. (1966). “Investment in humans, technological diffusion, and economic growth.” American Economic Review, 56, 1/2: 69-75.
  • Olomola, P. A. ve Osinubi, T. T. (2018). “Determinants of total factor productivity in Mexico, Indonesia, Nigeria, and Turkey (1980–2014).” Emerging Economy Studies, 4(2): 192-217.
  • Pede, V. O., Barboza, G., Sparks, A. H. ve McKinley, J. (2018). “The inequality-growth link revisited with spatial considerations: The case of provinces in the Philippines.” Journal of the Asia Pacific Economy, 23(3): 411-427.
  • Pedroni, P. (1999). “Critical values for cointegration tests in heterogeneous panels with multiple regressors.” Oxford Bulletin of Economics and Statistics, 61: 653-670.
  • Pedroni, P. (2000). “Fully modified OLS for heterogeneous cointegrated panels.” Advances in Econometrics, 15: 93-130.
  • Romer, P.M. (1990a). “Endogenous technological change.” Journal of Political Economy, 98, 5(2): 71-102.
  • Romer, P.M. (1990b). “Human capital and growth: theory and evidence.” Carnegie-Rochester Conference Series on Public Policy, 32: 251-286.
  • Sequeira, T. N., Ferreira-Lopes, F. ve Santos, M. (2017). “Income inequality, TFP, and human capital.” Economic Record, 939(300): 89-111.
  • Solow, R. (1956). “A Contribution to the theory of economic growth.” The quarterly journal of economics, 70(1): 65-94.
  • Solow, R. (1957). “Technical change and the aggregate production function.” Review of Economics and Statistics, 39(3): 312-320.
  • Wei, Z. ve Hao. R. (2011). “The role of human capital in China’s total factor productivity growth: A cross-province analysis.” The Developing Economies, 49(1): 1-35.
  • Yamamura, E. ve Shin, I. (2009). “Effects of income inequality on growth through efficiency improvement and capital accumulation.” International Economic Journal, 23(2): 237-258.
Toplam 56 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Özgür Koçbulut 0000-0003-3092-8400

Yayımlanma Tarihi 29 Aralık 2022
Yayımlandığı Sayı Yıl 2022 Sayı: 42

Kaynak Göster

APA Koçbulut, Ö. (2022). BRICS-T ÜLKELERİNDE GELİR EŞİTSİZLİĞİNİN TOPLAM FAKTÖR VERİMLİLİĞİ ÜZERİNE ETKİLERİ: EKONOMETRİK BİR ANALİZ. Adıyaman Üniversitesi Sosyal Bilimler Enstitüsü Dergisi(42), 706-733. https://doi.org/10.14520/adyusbd.1113281