The Relationship between Income Distribution, Inflation and Economic Growth: Examining the Asymmetric Relationship Based on the Kuznets Hypothesis with Fourier Functions

Yıl 2024, Cilt: 9 Sayı: 4, 656 - 677, 31.12.2024

Serhat Alpağut

https://doi.org/10.30784/epfad.1498262

Öz

The relationship between inflation, economic growth, and income distribution in Türkiye is examined in this study. The F-ADL cointegration test was applied as the econometric method. The first result obtained is that economic growth has an increasing effect on income inequality. The second result is that inflation has a reducing effect on income inequality. The third result is that inflation and economic growth have an asymmetric relationship with income distribution. Economic growth initially has a positive effect on income inequality and then a negative effect beyond a certain threshold, indicating a “reverse U” shaped relationship. This result shows that the Kuznets hypothesis is valid in Türkiye. Regarding the relationship between inflation and income inequality, inflation initially has a negative effect, and then, after a certain threshold, the effect becomes positive, indicating a “U” shaped relationship. The findings are consistent with the literature. When relationships are linear, a single policy may be sufficient; however, in cases of asymmetric relationships, varied and multiple policies may be required. Thus, it is advisable to consider the asymmetry in the design of income distribution-regulating and welfare-enhancing economic policies.

Anahtar Kelimeler

Income Distribution, Inflation, Economic Growth, Asymmetry, Fourier Functions

Gelir Dağılımı, Enflasyon ve Ekonomik Büyüme İlişkisi: Kuznets Hipotezine Dayalı Asimetrik İlişkinin Fourier Fonksiyonlar ile İncelenmesi

Öz

Bu çalışmada Türkiye’de enflasyon, ekonomik büyüme ve gelir dağılımı ilişkisi incelenmiştir. Ekonometrik yöntem olarak F-ADL eş bütünleşme testi uygulanmıştır. Elde edilen ilk sonuç ekonomik büyümenin gelir eşitsizliğini artırıcı etkisi olduğudur. İkinci sonuç enflasyonun gelir eşitsizliğini azaltıcı etkisi olduğudur. Üçüncü sonuç ekonomik büyüme ve enflasyonun gelir dağılımı ile ilişkisinde asimetrik ilişkinin var olduğudur. Ekonomik büyüme gelir eşitsizliğini önce pozitif etkilemekte ve bir noktadan sonra negatif etkilemektedir. Bu durum “ters U” şeklinde bir ilişkiyi ifade etmektedir. Bu sonuç Kuznets hipotezinin Türkiye için geçerli olduğunu göstermektedir. Enflasyon ve gelir eşitsizliğini ilişkisinde ise enflasyon önce negatif etkilemekte bir noktadan sonra etki pozitif olarak gerçekleşmektedir. Bu durum enflasyon ve gelir eşitsizliği ilişkisinin “U” şeklinde olduğunu göstermektedir. Elde edilen sonuçlar literatürle uyumludur. İlişkiler doğrusal olduğunda zaman içerisinde tek bir politika yeterli olabilirken asimetrik ilişkilerde değişken ve çoklu politikalara ihtiyaç olabilmektedir. Bu sebeple gelir dağılımını düzenleyici ve refah artırıcı ekonomi politikalarının uygulamasında ilişkilerin asimetrik olabileceği gerçeği dikkate alınarak düzenlemelerin yapılması tavsiye edilir.

Anahtar Kelimeler

Gelir Dağılımı, Enflasyon, Ekonomik Büyüme, Asimetri, Fourier Fonksiyonları

Kaynakça

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