BibTex RIS Kaynak Göster

RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT AND HUMAN DEVELOPMENT: EVIDENCE FROM ADVANCED AND EMERGING COUNTRIES

Yıl 2019, , 341 - 358, 01.04.2019
https://doi.org/10.17130/ijmeb.2019252098

Öz

While financial development increases the level of human development with the increase of income, human development affects financial development by the accumulation of human capital. In this study, It has investigated that the relationship between financial development and human development and whether this relationship is more important in emerging countries than developed countries. The study sample consisted of data from 42 countries of the period 1990-2015. In the study, panel cointegration, causality, variance decomposition and effectresponse analysis were applied and as a result of the study; it is determined that there is longterm relationship between financial development and human development and that there is a causality from human development to financial development in developing countries and from financial development to human development in all countries. These results show that the relationship between financial development and human development is more important in emerging countries than developed economies

Kaynakça

  • Abubakar, A., Kassim, S. H., & Yusoff, M. B. (2015). Financial development, human capital accumulation and economic growth: Empirical evidence from the economic community of West African States (ECOWAS). Procedia-Social and Behavioral Sciences, 172, 96-103.
  • Akhmat, G., Zaman, K., & Shukui, T. (2014). Impact of financial development on SAARC’S human development. Quality & Quantity, 48(5), 2801-2816.
  • Andrianova, S., & Demetriades, P. (2008). Sources and effectiveness of financial development: What we know and what we need to know. B. Guha-Khasnobis, G. Mavrotas (Eds.), United Nations Universty: Palgrave Macmillan.
  • Arora, R. U. (2012). Financial inclusion and human capital in developing Asia: The Australian connection. Third World Quarterly, 33(1), 177-197.
  • Azam, M., Khan, S., Zainal, Z., Karuppiah, N., & Khan, F. (2015). Foreign direct investment and human capital: Evidence from developing countries. Investment Management and Financial Innovations, 12(3), 155-162.
  • Das, P. K., & Guha Khasnobis, B. (2008). Finance and growth: An empirical assesment of the Indian economy. B. Guha-Khasnobis, G. Mavrotas (Eds.), United Nations Universty: Palgrave Macmillan.
  • Dwyfor Evans, A., Green, C. J., & Murinde, V. (2002). Human capital and financial development in economic growth: New evidence using the translog production function. International Journal of Finance & Economics, 7(2), 123-140.
  • Gnimassoun, B., & Mignon, V. (2016). How do macroeconomic imbalances interact? Evidence from a panel VAR analysis. Macroeconomic Dynamics, 20(7), 1717-1741.
  • Hakeem, M., & Oluitan, O. (2012). Financial development and human capital in South Africa: A time- series approach. Research in Applied Economics, 4(3), 18-38.
  • Hatemi-J, A., & Shamsuddin, M. (2016). The causal interaction between financial development and human development in Bangladesh. Applied Economics Letters, 23(14), 995-998.
  • Hermes, N., & Lensink, R. (2008). Does financial liberalization influence saving, investment and economic growth? Evidence from 25 emerging market economies, 1973 -96. B. Guha-Khasnobis, G. Mavrotas (Eds), United Nations Universty: Palgrave Macmillan.
  • Kaya, A. (2017). Finansal piyasalardaki gelişmelerin insani gelişmişlik üzerine etkisi: Türkiye örneği. Uluslararası İktisadi ve İdari İncelemeler Dergisi, 20, 169-180. DOI: 10.18092/ulikidince.298474.
  • Koç, S., Şenol, Z., & Karaca, S. S. (2016). Finansal gelişmişliği etkileyen makroekonomik faktörlerin gelişmiş ve gelişmekte olan ülkeler örnekleminde analizi: 2000-2012. Journal of Economics, Finance and Accounting, 3(4), 299-319.
  • Monacelli, T., Iovino, L., & Pascucci, F. (2011). Financial development and human development index. Erişim Tarihi: 11.04.2018, http://www.inesad.edu.bo/bcde2013/papers/BCDE2013-27.pdf
  • Nik, H., Nasab, Z., Salmani, Y., & Shahriari, N. (2013). The relationship between financial development indicators and human capital in Iran. Management Science Letters, 3(4), 1261-1272.
  • Outreville, J. F. (1999, October). Financial development, human capital and political stability. United Nations Conference on Trade And Development. Erişim Tarihi: 30.04.2018, http://unctad.org/en/ docs/dp_142.en.pdf
  • Sehrawat, M., & Giri, A. K. (2014). The relationship between financial development indicators and human development in India. International Journal of Social Economics, 41(12), 1194-1208.
  • Svirydzenka, K. (2016). Introducing a new broag-based ındex of financial development. IMF Working Paper.
  • United Nations Development Programme (UNDP). (1990). Human development report, New York University Press.
  • Yerdelen Tatoğlu, F. (2013). Stata uygulamalı ileri panel veri analizi. İstanbul: Beta Yayıncılık.
  • Ek 1: Etki-Tepki Analizi

FİNANSAL GELİŞİM İLE İNSANİ GELİŞİM ARASINDAKİ İLİŞKİ: GELİŞMİŞ VE GELİŞMEKTE OLAN ÜLKELER ÖRNEĞİ

Yıl 2019, , 341 - 358, 01.04.2019
https://doi.org/10.17130/ijmeb.2019252098

Öz

Finansal gelişim, ortaya çıkaracağı gelir artışıyla insani gelişim düzeyini yükseltebilirken, insani gelişim ise beşeri sermaye birikimiyle finansal gelişimi etkilemektedir. Bu çalışmada, finansal gelişim ile insani gelişim arasındaki ilişki ve bu ilişkinin gelişmekte olan ülkelerde, gelişmiş ülkelere göre, daha önemli olup olmadığı araştırılmıştır. Çalışma örneklemi 1990-2015 döneminde 42 ülkeye ait verilerden oluşturulmuştur. Çalışmada, panel eşbütünleşme, nedensellik, varyans ayrıştırması ve etki-tepki analizi uygulanmış, çalışma sonucunda; finansal gelişim ile insani gelişim arasında uzun dönemli ilişkinin bulunduğu ve gelişmekte olan ülkelerde insani gelişiminden finansal gelişime doğru, tüm ülkelerde ise finansal gelişimden insani gelişime doğru bir nedenselliğin olduğu belirlenmiştir. Bu sonuçlar, finansal gelişme ve insani gelişme ilişkisinin, gelişmiş ekonomilere göre, gelişmekte olan ülkelerde daha önemli olduğunu göstermektedir.

Kaynakça

  • Abubakar, A., Kassim, S. H., & Yusoff, M. B. (2015). Financial development, human capital accumulation and economic growth: Empirical evidence from the economic community of West African States (ECOWAS). Procedia-Social and Behavioral Sciences, 172, 96-103.
  • Akhmat, G., Zaman, K., & Shukui, T. (2014). Impact of financial development on SAARC’S human development. Quality & Quantity, 48(5), 2801-2816.
  • Andrianova, S., & Demetriades, P. (2008). Sources and effectiveness of financial development: What we know and what we need to know. B. Guha-Khasnobis, G. Mavrotas (Eds.), United Nations Universty: Palgrave Macmillan.
  • Arora, R. U. (2012). Financial inclusion and human capital in developing Asia: The Australian connection. Third World Quarterly, 33(1), 177-197.
  • Azam, M., Khan, S., Zainal, Z., Karuppiah, N., & Khan, F. (2015). Foreign direct investment and human capital: Evidence from developing countries. Investment Management and Financial Innovations, 12(3), 155-162.
  • Das, P. K., & Guha Khasnobis, B. (2008). Finance and growth: An empirical assesment of the Indian economy. B. Guha-Khasnobis, G. Mavrotas (Eds.), United Nations Universty: Palgrave Macmillan.
  • Dwyfor Evans, A., Green, C. J., & Murinde, V. (2002). Human capital and financial development in economic growth: New evidence using the translog production function. International Journal of Finance & Economics, 7(2), 123-140.
  • Gnimassoun, B., & Mignon, V. (2016). How do macroeconomic imbalances interact? Evidence from a panel VAR analysis. Macroeconomic Dynamics, 20(7), 1717-1741.
  • Hakeem, M., & Oluitan, O. (2012). Financial development and human capital in South Africa: A time- series approach. Research in Applied Economics, 4(3), 18-38.
  • Hatemi-J, A., & Shamsuddin, M. (2016). The causal interaction between financial development and human development in Bangladesh. Applied Economics Letters, 23(14), 995-998.
  • Hermes, N., & Lensink, R. (2008). Does financial liberalization influence saving, investment and economic growth? Evidence from 25 emerging market economies, 1973 -96. B. Guha-Khasnobis, G. Mavrotas (Eds), United Nations Universty: Palgrave Macmillan.
  • Kaya, A. (2017). Finansal piyasalardaki gelişmelerin insani gelişmişlik üzerine etkisi: Türkiye örneği. Uluslararası İktisadi ve İdari İncelemeler Dergisi, 20, 169-180. DOI: 10.18092/ulikidince.298474.
  • Koç, S., Şenol, Z., & Karaca, S. S. (2016). Finansal gelişmişliği etkileyen makroekonomik faktörlerin gelişmiş ve gelişmekte olan ülkeler örnekleminde analizi: 2000-2012. Journal of Economics, Finance and Accounting, 3(4), 299-319.
  • Monacelli, T., Iovino, L., & Pascucci, F. (2011). Financial development and human development index. Erişim Tarihi: 11.04.2018, http://www.inesad.edu.bo/bcde2013/papers/BCDE2013-27.pdf
  • Nik, H., Nasab, Z., Salmani, Y., & Shahriari, N. (2013). The relationship between financial development indicators and human capital in Iran. Management Science Letters, 3(4), 1261-1272.
  • Outreville, J. F. (1999, October). Financial development, human capital and political stability. United Nations Conference on Trade And Development. Erişim Tarihi: 30.04.2018, http://unctad.org/en/ docs/dp_142.en.pdf
  • Sehrawat, M., & Giri, A. K. (2014). The relationship between financial development indicators and human development in India. International Journal of Social Economics, 41(12), 1194-1208.
  • Svirydzenka, K. (2016). Introducing a new broag-based ındex of financial development. IMF Working Paper.
  • United Nations Development Programme (UNDP). (1990). Human development report, New York University Press.
  • Yerdelen Tatoğlu, F. (2013). Stata uygulamalı ileri panel veri analizi. İstanbul: Beta Yayıncılık.
  • Ek 1: Etki-Tepki Analizi
Toplam 21 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Research Article
Yazarlar

Zekai Şenol Bu kişi benim

Yayımlanma Tarihi 1 Nisan 2019
Yayımlandığı Sayı Yıl 2019

Kaynak Göster

APA Şenol, Z. (2019). FİNANSAL GELİŞİM İLE İNSANİ GELİŞİM ARASINDAKİ İLİŞKİ: GELİŞMİŞ VE GELİŞMEKTE OLAN ÜLKELER ÖRNEĞİ. Uluslararası Yönetim İktisat Ve İşletme Dergisi, 15(2), 341-358. https://doi.org/10.17130/ijmeb.2019252098