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The Measurement of Convergence of Economic Freedoms with Haldane-Hall Approach

Yıl 2014, Cilt: 16 Sayı: 2, 193 - 212, 30.09.2014
https://doi.org/10.16953/deusbed.59084

Öz

One of the most important developments in the last thirty years is the expansion of liberal economic thought and policies in terms of accelerating globalization movements. Libertarian movements the scope of which has been extended with regards to economics and especially neo-liberal movements became an irreplaceable element of social set-up and their economic liberation formed the main core of the developments of macroeconomics with the aim of increasing the welfare level. In this study, therefore, whether developing and underdeveloped countries came closer to developed countries in terms of economic freedom is analysed with a new method that is Haldane-Hall Convergence Analysis. The outcomes of Haldane-Hall Convergence Analysis revealed that the economic liberation processes of Argentina, Belarus, Bolivia, Bulgaria, China, Ecuador, Egypt, El Salvador, India, Mexico, Papua New Guinea, Romania, Senegal, Thailand and Turkey converged to developed countries, on the other hand, in Republic of Congo, Ghana, Iraq, Jordan, Libya, Moldova, Morocco, Sudan, Swaziland, Vietnam, Yemen, Bangladesh, Burkina Faso, Chad, Democratic Republic of Congo, Gambia, Guinea, Madagascar, Mali, Mozambique, Sierra Leone and Uganda, the concept of divergence in terms of economic freedom became a current issue.

Keywords: Economic Freedom, Convergence, Haldane-Hall Approach.

Kaynakça

  • Alston, P. (1990). U.S. ratification of the covenant on economic, social and cultural rights: The need for an entirely new strategy. The American Journal of International Law, 84 (2): 365-393.
  • Assane, D. ve Grammy, A. (2003). Institutional framework and economic development: International evidence. Applied Economics, 35 (17): 1811-1817.
  • Baliamoune-Lutz, M. (2006). Opennes, growth and income convergence in Africa. http://www.etsg.org/ETSG2006/papers/Baliamoune.pdf (30.04.2013).
  • Barro, R. J. (2001). Human capital and growth. The American Economic Review, 91 (2): 12-17.
  • Barzel, Y. (2002). A theory of the state: economic rights, legal rights and the scope of the state. UK: Cambridge University Press.
  • Cole, J. H. (2005). Economic freedom and world economic growth: Evidence and implications. RLDE Revista Latinoamericana de Desarrollo Económico, (5): 101-125.
  • Connors, J. (2012). Economic freedom, democracy and economic performance. Duke University Working Paper, No. 26: 1-19.
  • Daintith, T. (2004). Constitutional protection of economic rights. International Journal of Constitutional Law, 2 (1): 56-90.
  • Datta, A. (2003). Time-series tests of convergence and transitional dynamics. Economics Letters, 81 (2): 233-240.
  • Dickey, D. A. ve Fuller, W. A. (1979). Distribution of the estimators for autoregressive series with a unit root. Journal of the American Statistical Association, 74 (366): 427-431.
  • Dickey, D. A. ve Fuller, W. A. (1981). Likelihood ratio statistics for autoregressive time series with a unit root. Econometrica, 49 (4): 1057-1072.
  • Drake, L. (1995). Testing for convergence between UK regional house prices. Regional Studies, 29 (4): 357-366.
  • Dursun, İ. (2002). Ekonomik özgürlükler-ekonomik büyüme ilişkisi: Teorik ve uygulamalı bir inceleme. Yayımlanmamış Doktora Tezi. Dokuz Eylül Üniversitesi, Sosyal Bilimler Enstitüsü, İzmir.
  • Elert, N. ve Halvarsson, D. (2012). Economic freedom and institutional convergence. Ratio Working Paper, No. 196: 1-30.
  • Friedman, M. (2002). Economic freedom behind the scenes. J. Gwartney, R. Lawson, C. Edwards, W. Park, V. Rugy ve S. Wagh (Der.). Economic freedom of the world: 2002 annual report: İçinde xvii-xxi. Vancouver: The Fraser Institute.
  • Fung, M. K. (2009). Financial development and economic growth: Convergence or divergence. Journal of International Money and Finance, 28 (1): 56-67.
  • Gorga, C. (1999). Toward the definition of economic rights. Journal of Markets & Morality, 2 (1): 88-101.
  • Granger, C. W. J. ve Newbold, P. (1974). Spurious regressions in econometrics. Journal of Econometrics, 2 (2): 111-120.
  • Gurgul, H. ve Lach, L. (2011). The nexus between economic freedom and growth: Evidence from CEE countries in transition. MPRA Working Paper, No. 37434: 1-25.
  • Gwartney, J., Lawson, R., Park, W. ve Skipton, C. (2001). Economic freedom of the world: 2001 annual report. Vancouver: The Fraser Institute.
  • Haan, J. ve Sturm, J. E. (2000). On the relationship between economic freedom and economic growth. European Journal of Political Economy, 16 (2): 215-241.
  • Haldane, A. G. ve Hall, S. G. (1991). Sterling’s relationship with the dollar and the deutschmark: 1976-89. The Economic Journal, 101 (406): 436-443.
  • Henry, P. B. (2003). Capital-account liberalization, the cost of capital, and economic growth. The American Economic Review, 93 (2): 91-96.
  • Heritage Foundation (2012). http://www.heritage.org/index/book/chapter_1 (28.05.2012).
  • Johnson, B. T. (1999). Comparing economic freedom and political freedom. B. T. Johnson, K. R. Homes ve M. Kirkpatrick (Der.). 1999 index of economic freedom: İçinde 29-34. Washington: The Heritage Foundation and Dow Jones Company.
  • Jones, C. (1998). Introduction to economic growth. New York: W. W. Norton & Company Inc.
  • Kennedy, P. (2006). Ekonometri kılavuzu. (Çev.: M. Sarımeşeli ve Ş. Açıkgöz). 5. Baskı. Ankara: Gazi Kitabevi.
  • Kıran, B., Yavuz, N. Ç. ve Güriş, B. (2009). Financial development and economic growth: A panel data analysis of emerging countries. International Research Journal of Finance and Economics, (30): 87-94.
  • Luintel, K. B. ve Khan, M. (1999). A quantative reassessment of the finance-growth nexus: Evidence from a multivariate var. Journal of Development Economics, 60 (2): 381-405.
  • MacKinnon, J. (1991). Critical values for cointegration tests. R.F. Engle ve C.W.J. Granger (Der.). Long-run economic relationship: readings in cointegration: İçinde 267-276. New York: Oxford University Press.
  • Nelson, M. A. ve Singh, R. D. (1998). Democracy, economic freedom, fiscal policy and growth in LDCs: a fresh look. Economic Development and Cultural Change, 46 (4): 677-696.
  • Nieswiadomy, M. L. ve Strazicich, M. C. (2004). Are political freedoms converging?. Economic Inquiry, 42 (2): 323-340.
  • Orend, B. (2006). Justifying socioeconomic right. R. E. H. Hessman ve C. E. Welch (Der.). Economic rights in Canada and the United States: İçinde 25-40. USA: University of Pennsylvania Press.
  • Patry, W. (2009). Moral panics and the copyright wars. New York: Oxford University Press.
  • Rabushka, A. (1991). Philosophical aspects of economic freedom. W. Block ve J. C. W. Ahiakpor (Der.). Economic freedom: toward a theory of measurement: İçinde 23-56. Vancouver: The Fraser Institute.
  • Schumpeter, J. A. (1911). The theory of economic development. USA: Harvard University Press.
  • Schwartz, H. (1992). Economic and social rights. American University Journal of International Law and Policy, 8 (2-3): 551-566.
  • Scully, G. W. (1988). The institutional framework and economic development. Journal of Political Economy, 96 (3): 652-662.
  • Serletis, A. ve King, M. (1977). Common stochastic trends and convergence of European Union stock markets. The Manchester School of Economic & Social Studies, 65 (1): 47-57.
  • Siegen, B. H. (1992). Constitutional protection of property and economic rights. San Diego Law Review, 29 (2): 161-174.
  • Srinivasan, T. N. (1999). Trade orientation, trade liberalization and economic growth. G. Saxonhouse ve T. N. Srinivasan (Der.). Development duality and the international economic regime: Essays in honor of Gustav Ranis: İçinde 155-196. USA: The University of Michigan Press.
  • Uysal, D. (2004). Türkiye’de piyasa ekonomisi ve ekonomik özgürlükler. Konya: Çizgi Kitabevi.
  • Xu, Z. ve Li, H. (2008). Political freedom, economic freedom and income convergence: Do stages of development matter?. Public Choice, 135 (3-4): 183-205.
  • Yamak, N. ve Küçükkale, Y. (1997). Türkiye’de kamu harcamalarının ekonomik büyüme ilişkisi. İktisat, İşletme ve Finans, 12 (131): 5-14.
  • Yılmaz, Ö. ve Kaya, V. (2006). Finansal kalkınma ve iktisadi büyüme arasındaki nedensellik. İktisat, İşletme ve Finans, 21 (244): 120-131.
  • Yılmaz, Ö. ve Akıncı, M. (2012). İktisadi büyüme ve makroekonomik belirleyicileri. Ankara: Nobel Akademi Yayınları.

Ekonomik Özgürlüklerdeki Yakınsamanın Haldane-Hall Yaklaşımı ile Ölçümü

Yıl 2014, Cilt: 16 Sayı: 2, 193 - 212, 30.09.2014
https://doi.org/10.16953/deusbed.59084

Öz

Öz

Son otuz yıldan bu yana yaşanan en önemli gelişmelerden biri, hızlanan küreselleşme hareketleri kapsamında liberal iktisadi düşünce ve politikaların dünya genelinde yayılması olmuştur. Özellikle neo-liberal hareketler ile birlikte iktisadi bakımdan kapsamı genişletilen özgürlükçü akımlar, toplumsal yapılanma tarafından vazgeçilmez bir unsur olmuş ve ekonomik serbesti, refah gücünün artırılabilmesi amacıyla makro iktisadi gelişmelerin ana eksenini oluşturmuştur. Dolayısıyla bu çalışmada, gelişmekte olan ve azgelişmiş ülkelerin gelişmiş ülkelere ekonomik özgürlükler bakımından yaklaşıp yaklaşmadıkları yeni bir yöntem olan Haldane-Hall Yakınsama Analizi ile incelenmiştir. Haldane-Hall yakınsama analizi sonuçları; Arjantin, Belarus, Bolivya, Bulgaristan, Çin, Ekvador, Mısır, El Salvador, Hindistan, Meksika, Papua Yeni Gine, Romanya, Senegal, Tayland ve Türkiye’deki ekonomik özgürlük süreçlerinin gelişmiş ülkelere yakınsadığını; buna karşın Kongo Cumhuriyeti, Gana, Irak, Ürdün, Libya, Moldova, Fas, Sudan, Svaziland, Vietnam, Yemen, Bangladeş, Burkina Faso, Çad, Demokratik Kongo Cumhuriyeti, Gambiya, Gine, Madagaskar, Mali, Mozambik, Sierra Leone ve Uganda’da ise ekonomik özgürlükler bakımından ıraksama olgusunun gündeme geldiğini ortaya koymuştur.

Anahtar Kelimeler: Ekonomik Özgürlükler, Yakınsama, Haldane-Hall Yaklaşımı.

Kaynakça

  • Alston, P. (1990). U.S. ratification of the covenant on economic, social and cultural rights: The need for an entirely new strategy. The American Journal of International Law, 84 (2): 365-393.
  • Assane, D. ve Grammy, A. (2003). Institutional framework and economic development: International evidence. Applied Economics, 35 (17): 1811-1817.
  • Baliamoune-Lutz, M. (2006). Opennes, growth and income convergence in Africa. http://www.etsg.org/ETSG2006/papers/Baliamoune.pdf (30.04.2013).
  • Barro, R. J. (2001). Human capital and growth. The American Economic Review, 91 (2): 12-17.
  • Barzel, Y. (2002). A theory of the state: economic rights, legal rights and the scope of the state. UK: Cambridge University Press.
  • Cole, J. H. (2005). Economic freedom and world economic growth: Evidence and implications. RLDE Revista Latinoamericana de Desarrollo Económico, (5): 101-125.
  • Connors, J. (2012). Economic freedom, democracy and economic performance. Duke University Working Paper, No. 26: 1-19.
  • Daintith, T. (2004). Constitutional protection of economic rights. International Journal of Constitutional Law, 2 (1): 56-90.
  • Datta, A. (2003). Time-series tests of convergence and transitional dynamics. Economics Letters, 81 (2): 233-240.
  • Dickey, D. A. ve Fuller, W. A. (1979). Distribution of the estimators for autoregressive series with a unit root. Journal of the American Statistical Association, 74 (366): 427-431.
  • Dickey, D. A. ve Fuller, W. A. (1981). Likelihood ratio statistics for autoregressive time series with a unit root. Econometrica, 49 (4): 1057-1072.
  • Drake, L. (1995). Testing for convergence between UK regional house prices. Regional Studies, 29 (4): 357-366.
  • Dursun, İ. (2002). Ekonomik özgürlükler-ekonomik büyüme ilişkisi: Teorik ve uygulamalı bir inceleme. Yayımlanmamış Doktora Tezi. Dokuz Eylül Üniversitesi, Sosyal Bilimler Enstitüsü, İzmir.
  • Elert, N. ve Halvarsson, D. (2012). Economic freedom and institutional convergence. Ratio Working Paper, No. 196: 1-30.
  • Friedman, M. (2002). Economic freedom behind the scenes. J. Gwartney, R. Lawson, C. Edwards, W. Park, V. Rugy ve S. Wagh (Der.). Economic freedom of the world: 2002 annual report: İçinde xvii-xxi. Vancouver: The Fraser Institute.
  • Fung, M. K. (2009). Financial development and economic growth: Convergence or divergence. Journal of International Money and Finance, 28 (1): 56-67.
  • Gorga, C. (1999). Toward the definition of economic rights. Journal of Markets & Morality, 2 (1): 88-101.
  • Granger, C. W. J. ve Newbold, P. (1974). Spurious regressions in econometrics. Journal of Econometrics, 2 (2): 111-120.
  • Gurgul, H. ve Lach, L. (2011). The nexus between economic freedom and growth: Evidence from CEE countries in transition. MPRA Working Paper, No. 37434: 1-25.
  • Gwartney, J., Lawson, R., Park, W. ve Skipton, C. (2001). Economic freedom of the world: 2001 annual report. Vancouver: The Fraser Institute.
  • Haan, J. ve Sturm, J. E. (2000). On the relationship between economic freedom and economic growth. European Journal of Political Economy, 16 (2): 215-241.
  • Haldane, A. G. ve Hall, S. G. (1991). Sterling’s relationship with the dollar and the deutschmark: 1976-89. The Economic Journal, 101 (406): 436-443.
  • Henry, P. B. (2003). Capital-account liberalization, the cost of capital, and economic growth. The American Economic Review, 93 (2): 91-96.
  • Heritage Foundation (2012). http://www.heritage.org/index/book/chapter_1 (28.05.2012).
  • Johnson, B. T. (1999). Comparing economic freedom and political freedom. B. T. Johnson, K. R. Homes ve M. Kirkpatrick (Der.). 1999 index of economic freedom: İçinde 29-34. Washington: The Heritage Foundation and Dow Jones Company.
  • Jones, C. (1998). Introduction to economic growth. New York: W. W. Norton & Company Inc.
  • Kennedy, P. (2006). Ekonometri kılavuzu. (Çev.: M. Sarımeşeli ve Ş. Açıkgöz). 5. Baskı. Ankara: Gazi Kitabevi.
  • Kıran, B., Yavuz, N. Ç. ve Güriş, B. (2009). Financial development and economic growth: A panel data analysis of emerging countries. International Research Journal of Finance and Economics, (30): 87-94.
  • Luintel, K. B. ve Khan, M. (1999). A quantative reassessment of the finance-growth nexus: Evidence from a multivariate var. Journal of Development Economics, 60 (2): 381-405.
  • MacKinnon, J. (1991). Critical values for cointegration tests. R.F. Engle ve C.W.J. Granger (Der.). Long-run economic relationship: readings in cointegration: İçinde 267-276. New York: Oxford University Press.
  • Nelson, M. A. ve Singh, R. D. (1998). Democracy, economic freedom, fiscal policy and growth in LDCs: a fresh look. Economic Development and Cultural Change, 46 (4): 677-696.
  • Nieswiadomy, M. L. ve Strazicich, M. C. (2004). Are political freedoms converging?. Economic Inquiry, 42 (2): 323-340.
  • Orend, B. (2006). Justifying socioeconomic right. R. E. H. Hessman ve C. E. Welch (Der.). Economic rights in Canada and the United States: İçinde 25-40. USA: University of Pennsylvania Press.
  • Patry, W. (2009). Moral panics and the copyright wars. New York: Oxford University Press.
  • Rabushka, A. (1991). Philosophical aspects of economic freedom. W. Block ve J. C. W. Ahiakpor (Der.). Economic freedom: toward a theory of measurement: İçinde 23-56. Vancouver: The Fraser Institute.
  • Schumpeter, J. A. (1911). The theory of economic development. USA: Harvard University Press.
  • Schwartz, H. (1992). Economic and social rights. American University Journal of International Law and Policy, 8 (2-3): 551-566.
  • Scully, G. W. (1988). The institutional framework and economic development. Journal of Political Economy, 96 (3): 652-662.
  • Serletis, A. ve King, M. (1977). Common stochastic trends and convergence of European Union stock markets. The Manchester School of Economic & Social Studies, 65 (1): 47-57.
  • Siegen, B. H. (1992). Constitutional protection of property and economic rights. San Diego Law Review, 29 (2): 161-174.
  • Srinivasan, T. N. (1999). Trade orientation, trade liberalization and economic growth. G. Saxonhouse ve T. N. Srinivasan (Der.). Development duality and the international economic regime: Essays in honor of Gustav Ranis: İçinde 155-196. USA: The University of Michigan Press.
  • Uysal, D. (2004). Türkiye’de piyasa ekonomisi ve ekonomik özgürlükler. Konya: Çizgi Kitabevi.
  • Xu, Z. ve Li, H. (2008). Political freedom, economic freedom and income convergence: Do stages of development matter?. Public Choice, 135 (3-4): 183-205.
  • Yamak, N. ve Küçükkale, Y. (1997). Türkiye’de kamu harcamalarının ekonomik büyüme ilişkisi. İktisat, İşletme ve Finans, 12 (131): 5-14.
  • Yılmaz, Ö. ve Kaya, V. (2006). Finansal kalkınma ve iktisadi büyüme arasındaki nedensellik. İktisat, İşletme ve Finans, 21 (244): 120-131.
  • Yılmaz, Ö. ve Akıncı, M. (2012). İktisadi büyüme ve makroekonomik belirleyicileri. Ankara: Nobel Akademi Yayınları.
Toplam 46 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Merter Akıncı

Gönül Yüce Akıncı

Ömer Yılmaz

Yayımlanma Tarihi 30 Eylül 2014
Gönderilme Tarihi 21 Ocak 2015
Yayımlandığı Sayı Yıl 2014 Cilt: 16 Sayı: 2

Kaynak Göster

APA Akıncı, M., Yüce Akıncı, G., & Yılmaz, Ö. (2014). Ekonomik Özgürlüklerdeki Yakınsamanın Haldane-Hall Yaklaşımı ile Ölçümü. Dokuz Eylül Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 16(2), 193-212. https://doi.org/10.16953/deusbed.59084