Economic Vulnerability-Economic Development Relationship in Emerging Market Economies

Öz

Economic vulnerabilities have a significant affect on the economic growth and development process of especially developing countries. These countries are at a disadvantage compared to developed countries in the face of internal and external shocks. Among developing countries, countries that have institutions and policies are relatively less affected from vulnerabilities. In this study, based on the effects of economic economic vulnerabilities on country economies; the effects of the economic vulnerability index on economic development were tested using panel data methods (Common Correlated Estimators). The findings of DCCE-GMM estimator show that as economic vulnerabilities increases in selected emerging market economies, economic development will decrease. Accordingly, a 1% increase in the economic vulnerability index reduces the human development index by 0.04%.

Anahtar Kelimeler

• Economic Vulnerability
• Economic Development
• Panel Data

Yükselen Piyasa Ekonomilerinde Ekonomik Kırılganlık-Ekonomik Kalkınma İlişkisi

Öz

Ekonomik kırılganlıklar, özellikle gelişmekte olan ülkelerin ekonomik büyüme ve kalkınma sürecine önemli düzeyde etki etmektedir. Bu ülkeler, karşı karşıya kaldıkları içsel ve dışsal şoklar karşısında gelişmiş ülkelere kıyasla dezavantajlı konumdadırlar. Buna karşın gelişmekte olan ülkeler arasında, kırılganlıkların üstesinden gelebilecek kurumlara ve politikalara sahip olanlar nispeten bu durumdan daha az etkilenmektedirler. Ekonomik kırılganlıkların ülke ekonomileri üzerindeki etkilerinden yola çıkılarak bu çalışmada; ekonomik kırılganlık endeksinin ekonomik kalkınma üzerindeki etkisi panel veri yöntemleri (Ortak Korelasyonlu Tahminciler) kullanılarak test edilmiştir. DCCE-GMM tahmincisinden elde edilen bulgular, seçilmiş yükselen piyasa ekonomilerinde ekonomik kırılganlık arttıkça ekonomik kalkınmanın azalacağını ortaya koymuştur. Buna göre ekonomik kırılganlık endeksinde ortaya çıkan %1’lik bir artış, insani gelişme endeksini %0.04 azaltmaktadır.

Anahtar Kelimeler

• Ekonomik Kırılganlık
• Ekonomik Kalkınma
• Panel Veri

Kaynakça

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