Araştırma Makalesi
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Bankacılık Sektörünün Finansal Performansı ile Ekonomik Büyüme Arasındaki İlişki: AB Ülkeleri Üzerine Bir Araştırma

Yıl 2020, Cilt: 11 Sayı: 2, 508 - 518, 26.06.2020

Öz

Çalışmada, bankacılık sektörünün finansal performansının ekonomik büyüme üzerindeki etkisi incelenmiştir. Avrupa Birliği üye ülkelerinin 1996-2017 dönemi verileri çalışmanın kapsamını oluşturmaktadır. Ekonomik büyüme, GSYH’deki büyüme (yıllık %) ile bankacılık sektörü finansal performansı ise bankaların aktif karlılığı (ROA), bankaların özsermaye karlılığı (ROE) ve bankaların fiyat kazanç oranı değişkenleri ile ölçülmüştür. Finansal performans ve ekonomik büyüme arasındaki ilişki panel veri analizi yöntemiyle araştırılmış olup, analiz sonucunda finansal performans ile ekonomik büyüme arasında istatistiksel olarak anlamlı ve pozitif yönlü bir ilişki tespit edilmiştir. Avrupa Birliği ülkelerinin banka performansının ekonomik büyüme üzerinde olumlu etkisi olduğu söylenebilir. Bu kapsamda Avrupa Birliği üye ülkelerinin bankacılık sektörü finansal performansını artırarak ekonomik büyümeyi hızlandırabileceği söylenebilir.

Kaynakça

  • Arestis, P. and Demetriades, P. (1997). Financial development and economic growth: Assesing the evidence. Economic Journal, 107(442), 783-799.
  • Arestis, P., Demetriades, P. O. and Luintel, K. (2001). Financial development and economic growth: The role of stock markets. Journal of Money, Credit and Banking, 33(1),16–41.
  • Bagehot, W. (1873). Lombart street: a description of the money market. New York: E. P. Dutton And Company, Reprint 1920.
  • Bai, J. and Ng, S. (2004). A panic attack on unit roots and cointegration. Econometrica, 72, pp. 1127-1177.
  • Baltagi, B. and Li, Q. (1991). A joint test for serial correlation and random individual effects, Statistics and Probability Letters, 11, 277-280.
  • Berger, A. N., Iftekhar, H. and Klapper, L. F. (2004). Further evidence on the link between finance and growth: An international analysis of community banking and economic performance. Bank of Finland Discussion Papers, 8.
  • Bhargava, A., Franzini, L. and Narendranathan, W. (1982). Serial correlation and the fixed effects model. The Review of Economic Studies, 49(4), 533–549.
  • Born, B. and Breitung, J. (2016). Testing for serial correlation in fixed-effects panel data models. Econometric Reviews, 35(7), 1290-1316.
  • Breusch, T. S. and Pagan, A. (1980). The lagrange multiplier test and its applications to model specification in econometrics. Review of Economic Studies, 47(1), 239-253.
  • Cheng, X. and Degryse, H. (2010). The Impact of bank and non-bank financial institutions on local economic growth in China, J Financ Serv Res, 37, 179–199.
  • Christopoulos, D. K. and Tsionas, E. G. (2004). Financial development and economic growth: Evidence from panel unit root and cointegration tests. Journal of Development Economics, 73, 55–74.
  • Cole, R. A., Moshirian, F. and Wu, Q. (2008). Bank stock returns and economic growth. Journal of Banking & Finance, 32, 995–1007.
  • Gujarati, D. N. (2003). Basic econometrics, New York, McGraw-Hill.
  • Hair, J., Anderson, R., Tatham, R. and William, B. (1998): Multivariate data analysis. New Jersey: PrenticeHall.
  • Hicks, J. (1969). A theory of economic history. Oxford, U.K. Clarendon Press.
  • Honda, Y. (1985), Testing the error components model with non-normal disturbances. Review of Economic Studies, 52, 681-690.
  • Ibrahim, M. and Alagidede, P. (2018). Effect of financial development on economic growth in sub-Saharan Africa. Journal of Policy Modeling, 40(6), 1104-1125.
  • Im, K. S., Pesaran, M. H. and Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53-74.
  • King, R. G. and Levine, R. (1993). Finance and growth: Schumpeter might be right. Quarterly Journal of Economics, 108(3), 717-737.
  • Kyophilavong, P., Uddin, G.S. and Shahbaz M. (2016). The nexus between financial development and economic growth in lao PDR. Global Business Review. 17(2). 303–317.
  • Levin, A., Lin, C. F. and Chu, C. J. (2002). Unit root tests in panel data: Asymptotic and finite-sample properties. Journal of Econometrics, 108(1), 1–24.
  • Levine, R. and Zervos, S. (1996). Stock market development and long-run growth. World Bank Economic Review, 10(2), 323-339.
  • Levine, R. and Zervos, S. (1998). Stock markets, banks, and economic growth. Economic Review, 88(3), 537-558.
  • Maddala, G. S. and Wu, S. (1999). A comparative study of unit root tests with panel data and a new simple test. Oxford Bulletin of Economics and Statistics, 61(S1), 631-652.
  • Malarvizhi, C.A.N., Zeynali, Y., Al Mamun A. and Bin Ahmad G. (2019). Financial development and economic growth in ASEAN-5 Countries. Global Business Review, 20(1), 57–71.
  • Murinde, V., Fern, S. and Eng, H. (1994), Financial development and economic growth in Singapore: demand-following or supply-leading?. Applied Financial Economics, 4, 391-404.
  • Neusser, K. and Kugler, M. (1998). Manufacturing growth and financial development: Evidence from OECD countries. The Review of Economics and Statistics, 80(4), 638–646.
  • Paun, C. V., Musetescu, R. D., Topan, V. M. and Danuletiu, D. C. (2019). The impact of financial sector development and sophistication on sustainable economic growth. Sustainability, 11, 1713.
  • Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. Cambridge Working Papers in Economics, 435.
  • Pesaran, M. H., Ullah, A. and Yamagata, T. (2008). A bias adjusted LM test of error cross section independence. Econometrics Journal, 11(1), 105–127.
  • Petkovski, M. and Kjosevski, J. (2014). Does banking sector development promote economic growth? An empirical analysis for selected countries in Central and South Eastern Europe. Economic Research, 27(1), 55-66.
  • Schumpeter, J. A. (1912). The theory of economic development. Cambridge: Harvard University Press.
  • Tabachnick, B. and Fidell, L. (2001). Using multivariate statistics. Boston: Allyn and Bacon.
  • Thierry, B., Jun, Z., Eric, E., Zimy, G., Yannick, S., Yao, K. and Landrye, S. (2016). Turkey causality relationship between bank credit and economic growth: Evidence from a time series analysis on a vector error correction model in cameroon.12th International Strategic Management Conference.
  • World Bank, databank.worldbank.org

The Relationship between Financial Performance of Banking Sector and Economic Growth: A Research on EU Countries

Yıl 2020, Cilt: 11 Sayı: 2, 508 - 518, 26.06.2020

Öz

In this study, the effects of financial performance of banking sector on economic growth have been analyzed. The study covers the data for the period 1996-2017 of European Union countries. In the study in regard to economic growth, GDP growth (annual %); financial performance, bank ROA, bank ROE, bank cost to income ratio (%) and stock market capitalization to GDP (%) have been used. The relationship between financial performance and economic growth have been analyzed through panel data method. The results of the analysis suggest that the bank performance of European Union countries have positive effect on economic growth. A positive and significant relationship has been determined that the ROA, bank cost to income ratio and stock market capitalization and economic growth. EU countries will be able to expedite economic growth by increasing the financial performance of banks.

Kaynakça

  • Arestis, P. and Demetriades, P. (1997). Financial development and economic growth: Assesing the evidence. Economic Journal, 107(442), 783-799.
  • Arestis, P., Demetriades, P. O. and Luintel, K. (2001). Financial development and economic growth: The role of stock markets. Journal of Money, Credit and Banking, 33(1),16–41.
  • Bagehot, W. (1873). Lombart street: a description of the money market. New York: E. P. Dutton And Company, Reprint 1920.
  • Bai, J. and Ng, S. (2004). A panic attack on unit roots and cointegration. Econometrica, 72, pp. 1127-1177.
  • Baltagi, B. and Li, Q. (1991). A joint test for serial correlation and random individual effects, Statistics and Probability Letters, 11, 277-280.
  • Berger, A. N., Iftekhar, H. and Klapper, L. F. (2004). Further evidence on the link between finance and growth: An international analysis of community banking and economic performance. Bank of Finland Discussion Papers, 8.
  • Bhargava, A., Franzini, L. and Narendranathan, W. (1982). Serial correlation and the fixed effects model. The Review of Economic Studies, 49(4), 533–549.
  • Born, B. and Breitung, J. (2016). Testing for serial correlation in fixed-effects panel data models. Econometric Reviews, 35(7), 1290-1316.
  • Breusch, T. S. and Pagan, A. (1980). The lagrange multiplier test and its applications to model specification in econometrics. Review of Economic Studies, 47(1), 239-253.
  • Cheng, X. and Degryse, H. (2010). The Impact of bank and non-bank financial institutions on local economic growth in China, J Financ Serv Res, 37, 179–199.
  • Christopoulos, D. K. and Tsionas, E. G. (2004). Financial development and economic growth: Evidence from panel unit root and cointegration tests. Journal of Development Economics, 73, 55–74.
  • Cole, R. A., Moshirian, F. and Wu, Q. (2008). Bank stock returns and economic growth. Journal of Banking & Finance, 32, 995–1007.
  • Gujarati, D. N. (2003). Basic econometrics, New York, McGraw-Hill.
  • Hair, J., Anderson, R., Tatham, R. and William, B. (1998): Multivariate data analysis. New Jersey: PrenticeHall.
  • Hicks, J. (1969). A theory of economic history. Oxford, U.K. Clarendon Press.
  • Honda, Y. (1985), Testing the error components model with non-normal disturbances. Review of Economic Studies, 52, 681-690.
  • Ibrahim, M. and Alagidede, P. (2018). Effect of financial development on economic growth in sub-Saharan Africa. Journal of Policy Modeling, 40(6), 1104-1125.
  • Im, K. S., Pesaran, M. H. and Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53-74.
  • King, R. G. and Levine, R. (1993). Finance and growth: Schumpeter might be right. Quarterly Journal of Economics, 108(3), 717-737.
  • Kyophilavong, P., Uddin, G.S. and Shahbaz M. (2016). The nexus between financial development and economic growth in lao PDR. Global Business Review. 17(2). 303–317.
  • Levin, A., Lin, C. F. and Chu, C. J. (2002). Unit root tests in panel data: Asymptotic and finite-sample properties. Journal of Econometrics, 108(1), 1–24.
  • Levine, R. and Zervos, S. (1996). Stock market development and long-run growth. World Bank Economic Review, 10(2), 323-339.
  • Levine, R. and Zervos, S. (1998). Stock markets, banks, and economic growth. Economic Review, 88(3), 537-558.
  • Maddala, G. S. and Wu, S. (1999). A comparative study of unit root tests with panel data and a new simple test. Oxford Bulletin of Economics and Statistics, 61(S1), 631-652.
  • Malarvizhi, C.A.N., Zeynali, Y., Al Mamun A. and Bin Ahmad G. (2019). Financial development and economic growth in ASEAN-5 Countries. Global Business Review, 20(1), 57–71.
  • Murinde, V., Fern, S. and Eng, H. (1994), Financial development and economic growth in Singapore: demand-following or supply-leading?. Applied Financial Economics, 4, 391-404.
  • Neusser, K. and Kugler, M. (1998). Manufacturing growth and financial development: Evidence from OECD countries. The Review of Economics and Statistics, 80(4), 638–646.
  • Paun, C. V., Musetescu, R. D., Topan, V. M. and Danuletiu, D. C. (2019). The impact of financial sector development and sophistication on sustainable economic growth. Sustainability, 11, 1713.
  • Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. Cambridge Working Papers in Economics, 435.
  • Pesaran, M. H., Ullah, A. and Yamagata, T. (2008). A bias adjusted LM test of error cross section independence. Econometrics Journal, 11(1), 105–127.
  • Petkovski, M. and Kjosevski, J. (2014). Does banking sector development promote economic growth? An empirical analysis for selected countries in Central and South Eastern Europe. Economic Research, 27(1), 55-66.
  • Schumpeter, J. A. (1912). The theory of economic development. Cambridge: Harvard University Press.
  • Tabachnick, B. and Fidell, L. (2001). Using multivariate statistics. Boston: Allyn and Bacon.
  • Thierry, B., Jun, Z., Eric, E., Zimy, G., Yannick, S., Yao, K. and Landrye, S. (2016). Turkey causality relationship between bank credit and economic growth: Evidence from a time series analysis on a vector error correction model in cameroon.12th International Strategic Management Conference.
  • World Bank, databank.worldbank.org
Toplam 35 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm Makaleler
Yazarlar

Tuğba Nur Topaloğlu 0000-0002-0974-4896

İlhan Ege 0000-0002-5765-1926

Yayımlanma Tarihi 26 Haziran 2020
Gönderilme Tarihi 5 Mart 2020
Yayımlandığı Sayı Yıl 2020 Cilt: 11 Sayı: 2

Kaynak Göster

APA Nur Topaloğlu, T., & Ege, İ. (2020). The Relationship between Financial Performance of Banking Sector and Economic Growth: A Research on EU Countries. Gümüşhane Üniversitesi Sosyal Bilimler Dergisi, 11(2), 508-518. https://doi.org/10.36362/gumus.699442