Yıl 2020, Cilt 35 , Sayı 4, Sayfalar 895 - 907 2020-12-31

Superimposing Space onto the Relationship between Financial Development and Economic Growth
Finansal Gelişme ve Ekonomik Büyüme İlişkisine Mekân Eklenmesi

Mustafa Erhan BİLMAN [1] , Sadik KARAOĞLAN [2]


We investigate the relationship between financial development (FD) and economic growth (EG) for a selected sample of 20 emerging market economies by adopting a dynamic spatial modelling framework with common factors. Annual data for the period 1996-2018 is used. Empirical findings suggest that FD affects EG negatively. Furthermore, there are negative spillovers on the EG rates of the neighboring countries which are generated by the financial sector improvements in any single emerging country. This is a striking finding that it questions the old argument that financial sector or financial market development leads always to favorable effects on economic performance. The policy suggestion that follows is that the policy makers in the sampled countries should keep the financial sectors under control by regulations so as to stabilize their EG rates. Besides, they should design economic policy measures to protect their economic performances from the negative spillovers transmitted from the neighboring emerging countries.
Bu çalışma, seçilmiş 20 yükselen piyasa ekonomisinde finansal gelişme (FD) ile ekonomik büyüme (EG) arasındaki ilişkiyi, 1996-2018 dönemini kapsayan yıllık veriler kullanılarak yürütülen ortak faktörlü dinamik mekansal modelleme aracılığıyla araştırmaktadır. Ampirik analizlerden elde edilen bulgulara göre; FD, EG’yi negatif yönde etkilemektedir. Buna ek olarak, komşu ülkelerin EG’leri üzerinde, herhangi bir yükselen piyasa ekonomisindeki finans sektörü gelişmelerinin meydana getirdiği negatif bulaşma etkileri tespit edilmiştir. Bu önemli bulgu, finans sektörü veya finansal piyasa gelişiminin her zaman ekonomik performans üzerinde olumlu etkilere neden olacağı şeklindeki eski argümanı sorgulamaktadır. Bu sonuçların ışığında elde edilen politika önerisine göre, örneklemdeki ülkelerin politika yapıcılarının EG oranlarını stabilize etmek için finans sektörlerini düzenlemeler yardımıyla kontrol altında tutmaları gerekmektedir. Ayrıca, kendi ekonomik performanslarını, gelişmekte olan komşu ülkelerden gelen negatif bulaşmalardan korumak amacıyla ekonomi politikası önlemleri dizayn etmeleri de gerekmektedir.
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Birincil Dil en
Konular Sosyal
Bölüm Makaleler
Yazarlar

Orcid: 0000-0003-4058-8681
Yazar: Mustafa Erhan BİLMAN (Sorumlu Yazar)
Kurum: İZMİR KATİP ÇELEBİ ÜNİVERSİTESİ
Ülke: Turkey


Orcid: 0000-0001-8343-1487
Yazar: Sadik KARAOĞLAN
Kurum: IZMIR KATIP CELEBI UNIVERSITY
Ülke: Turkey


Tarihler

Başvuru Tarihi : 22 Ekim 2020
Kabul Tarihi : 30 Aralık 2020
Yayımlanma Tarihi : 31 Aralık 2020

Bibtex @araştırma makalesi { ije814772, journal = {İzmir İktisat Dergisi}, issn = {1308-8173}, eissn = {1308-8505}, address = {Dokuz Eylül Üniversitesi İktisadi ve İdari Bilimler Fakültesi Buca - İZMİR}, publisher = {Dokuz Eylül Üniversitesi}, year = {2020}, volume = {35}, pages = {895 - 907}, doi = {10.24988/ije.202035415}, title = {Superimposing Space onto the Relationship between Financial Development and Economic Growth}, key = {cite}, author = {Bilman, Mustafa Erhan and Karaoğlan, Sadik} }
APA Bilman, M , Karaoğlan, S . (2020). Superimposing Space onto the Relationship between Financial Development and Economic Growth . İzmir İktisat Dergisi , 35 (4) , 895-907 . DOI: 10.24988/ije.202035415
MLA Bilman, M , Karaoğlan, S . "Superimposing Space onto the Relationship between Financial Development and Economic Growth" . İzmir İktisat Dergisi 35 (2020 ): 895-907 <https://dergipark.org.tr/tr/pub/ije/issue/59209/814772>
Chicago Bilman, M , Karaoğlan, S . "Superimposing Space onto the Relationship between Financial Development and Economic Growth". İzmir İktisat Dergisi 35 (2020 ): 895-907
RIS TY - JOUR T1 - Superimposing Space onto the Relationship between Financial Development and Economic Growth AU - Mustafa Erhan Bilman , Sadik Karaoğlan Y1 - 2020 PY - 2020 N1 - doi: 10.24988/ije.202035415 DO - 10.24988/ije.202035415 T2 - İzmir İktisat Dergisi JF - Journal JO - JOR SP - 895 EP - 907 VL - 35 IS - 4 SN - 1308-8173-1308-8505 M3 - doi: 10.24988/ije.202035415 UR - https://doi.org/10.24988/ije.202035415 Y2 - 2020 ER -
EndNote %0 İzmir İktisat Dergisi Superimposing Space onto the Relationship between Financial Development and Economic Growth %A Mustafa Erhan Bilman , Sadik Karaoğlan %T Superimposing Space onto the Relationship between Financial Development and Economic Growth %D 2020 %J İzmir İktisat Dergisi %P 1308-8173-1308-8505 %V 35 %N 4 %R doi: 10.24988/ije.202035415 %U 10.24988/ije.202035415
ISNAD Bilman, Mustafa Erhan , Karaoğlan, Sadik . "Superimposing Space onto the Relationship between Financial Development and Economic Growth". İzmir İktisat Dergisi 35 / 4 (Aralık 2020): 895-907 . https://doi.org/10.24988/ije.202035415
AMA Bilman M , Karaoğlan S . Superimposing Space onto the Relationship between Financial Development and Economic Growth. ije. 2020; 35(4): 895-907.
Vancouver Bilman M , Karaoğlan S . Superimposing Space onto the Relationship between Financial Development and Economic Growth. İzmir İktisat Dergisi. 2020; 35(4): 895-907.
IEEE M. Bilman ve S. Karaoğlan , "Superimposing Space onto the Relationship between Financial Development and Economic Growth", İzmir İktisat Dergisi, c. 35, sayı. 4, ss. 895-907, Ara. 2021, doi:10.24988/ije.202035415