THE RELATIONSHIP BETWEEN PUBLIC TRANSFER PAYMENTS AND GROWTH: A LONG RUN ANALYSIS WITH DYNAMIC PANEL DATA METHOD

Öz

The aim of this study is to examine the relationship between public transfer payments and economic growth with a dynamic method for developing countries. The econometric model is constituted by eliminating some previous deficiencies about model spesification, sample and method. The relationship is tested with system-GMM method for 27 developing countries (1990-2011). As a conclusion, the long run effect of public transfer payments on economic growth is found to be positive and statistically significant. In this context, public transfer payments are productive expenditures in developing countries in the long run and serve to eliminate the problem of low income levels.

Anahtar Kelimeler

• Public transfer payments, economic growth, dynamic panel data method

GELİŞMEKTE OLAN ÜLKELERDE KAMU TRANSFER HARCAMALARI VE BÜYÜME İLİŞKİSİ: DİNAMİK PANEL VERİ YÖNTEMİ İLE UZUN DÖNEM ANALİZİ

Öz

Bu çalışmanın amacı kamu transfer harcamaları ve iktisadi büyüme ilişkisinin dinamik bir yöntem ile gelişmekte olan ülkeler için sınanmasıdır. Literatürde yer alan önceki çalışmaların model spesifikasyonu, örneklem ve yöntemlerine ilişkin eksiklikler giderilerek oluşturulan ekonometrik model; sistem GMM yöntemi kullanılarak 27 gelişmekte olan ülke verileri (1990-2011) ile test edilmiştir. Çalışmanın sonucunda kamu transfer harcamalarının uzun dönem iktisadi büyüme üzerindeki etkisi istatistiksel olarak anlamlı ve pozitif yönde bulunmuştur. Bu bağlamda, kamu transfer harcamaları gelişmekte olan ülkelerde uzun dönemde üretken kamu harcaması niteliğinde olup düşük gelir düzeyi sorununun çözümüne hizmet etmektedir.

Anahtar Kelimeler

• Transfer harcamaları, iktisadi büyüme, dinamik panel veri yöntemi

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