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TİCARİ VE FİNANSAL DIŞA AÇIKLIK İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: TÜRKİYE ÜZERİNE BİR UYGULAMA

Yıl 2007, Sayı: 5, 67 - 89, 19.09.2011

Yrd. Doç. Dr. Sevda Yapraklı

Öz

Bu çalışmanın amacı, Türkiye’de ticari ve finansal dışa açıklık ile ekonomik büyüme arasındaki ilişkiyi
incelemektir. Bu amaçla 1990:1-2006:4 dönemi için, ticari ve finansal dışa açıklık oranları ile ekonomik büyüme
oranı arasındaki ilişkiler, çok değişkenli eş-bütünleşme analizi, hata düzeltme-geliştirilmiş Granger nedensellik
testleri ve vektör hata düzeltme modeli kullanılarak ekonometrik açıdan analiz edilmektedir. Analiz sonuçlarına
göre, uzun dönemde ekonomik büyüme ticari açıklıktan pozitif, finansal açıklıktan negatif olarak
etkilenmektedir. Hata düzeltme-geliştirilmiş Granger nedensellik testleri, ticari ve finansal açıklık ile ekonomik
büyüme arasında iki yönlü nedenselliğin bulunduğunu göstermektedir. Ayrıca, ticari açıklıktan finansal açıklığa
doğru tek yönlü nedenselliğin bulunduğu görülmektedir.

Anahtar Kelimeler

Ticari Dışa Açıklık Finansal Dışa Açıklık Ekonomik Büyüme Türkiye Ekonomisi Zaman Serileri Birim Kök Granger Nedenselliği VEC Modeli

Kaynakça

  • Acemoglu, D., Aghion, P. ve Zilibotti, F. (2006); “Distance to Frontier, Selection, and Economic Growth”, Journal of the European Economic Association, 4(1), 37-74.
  • Afxentiou, P.C. ve Serletis, A. (1992); “Openness in the Canadian Economy: 1870–1988”, Applied Economics, 24(11), 1191-98.
  • Aizenman, J. (2004a); “Financial Opening and Development: Evidence and Policy Controversies”, American Economic Review, 92(2), 65-70.
  • _______(2004b); “On the Hidden Links Between Financial and Trade Opening”, NBER Working Paper, No: 9906, 1-25.
  • Alam, M.S. (1991); “Trade Orientation and Macroeconomic Performance in LDCs: An Empirical Study”, Economic Development and Cultural Change, 39, 839-48.
  • Alper, C. E. ve Z. Öniş (2001); “Finansal Küreselleşme, Demokrasi Açığı ve Yükselen Piyasalarda Yaşanan Sürekli Krizler: Sermaye Hareketlerinin Liberalleşmesi Sonrasında Türkiye Deneyimi”, Doğu Batı Dergisi, 4(17), 203-225.
  • Anoruo, E. ve Ahmad, Y. (1999); “Openness and Economic Growth: Evidence From Selected Asean Countries”, The Indian Economic Journal, 47(3), 110-17.
  • Anwer, M.S. ve Sampath, R.K. (1999); “Exports and Economic Growth”, The Indian Economic Journal, 47(3), 79-88.
  • Arestis, P. ve Demetriades, P. (1997); “Financial Dvelopment and Economic Growth: Assessing the Evidence”, The Economic Journal, 107, 783-99.
  • Arnold, J., Javorcik, B.S. ve Mattoo, A. (2006); “Does Services Liberalization Benefit Manufacturing Firms? Evidence from the Czech Republic”, CEPR Discussion Paper, No: 5902, 1-39.
  • Aslan, Ö. ve Küçükaksoy, İ. (2006); “Finansal Gelişme ve Ekonomik Büyüme İlişkisi: Türkiye Ekonomisi Üzerine Ekonometrik Bir Uygulama”, Ekonometri ve İstatistik Dergisi, 4, 12-28.
  • Balassa, B. (1978); “Exports and Economic Growth: Further Evidence,” Journal of Development Economics, 5, 181-89.
  • Beck, T., Levine, R. ve Loayza, N. (2000); “Finance and the Sources of Growth”, Journal of Financial Economics, 58(1-2), 261-300.
  • Boyd, J. H. ve Smith, B.D. (1992); “Intermediation and the Equilibrium Allocation of Investment Capital: Implications for Economic Development”, Journal of Monetary Economics, 30, 409-32.
  • Brandt, C. (2004); “Economic Growth and Openness An Econometric Analysis for Regions”, Department of Economics University Ulm, 1-19, http://www.iwh- halle.de/d/start/News/workshop_makro/ws5/Brandt.pdf (05.02.2007).
  • Calderon, C. ve Liu, L. (2003); “The Direction of Causality Between Financial Development and Economic Growth”, Journal of Development Economics, 72, 321-334.
  • Caprio, G.J. ve Klingebiel, D. (1997); “Bank Insolvency: Bad Luck, Bad Policy, or Bad Banking?”, içinde Bruno, M. ve Pleskovic, B. (der.), Annual World Bank Conference on Development Economics, Washington: The World Bank, 1-24.
  • Carmignani, F. ve Chowdhury, A. (2005); “Does Financial Openness Promote Economic Integration? Some Evidence from Europe and the CIS”, United Nations University, Unu-Wider World Institute for Development Economics Research, No: 2005/74, 1-17.
  • Chandra, R. (2002); “Export Growth and Economic Growth: An Investigation of Causality in India”, Indian Economic Journal, 49(3), 64-73.
  • Charemza, W.W. ve Deadman, D.F. (1993); New Directions in Econometric Practice: General to Specific Modelling Cointegration and Vector Autoregression, Aldershot, Hanst: Edward Elgar Publishing Limited, Cambridge.
  • Dağdelen, İ. (2004); “Liberalizasyon”, Uluslararası İnsan Bilimleri Dergisi, 1(1), 1-66.
  • Darrat, A. (1987); “Are Exports Engine of Growth? Another Look at the Evidence”, Applied Economics, 19, 277-83.
  • Demetriades P.O. ve Hussein, K.A. (1996); “Does Financial Development Cause Economic Growth? Time- Series Evidence from 16 Countries”, Journal of Development Economics, 51, 387-411.
  • Demetriades, P. ve Luintel, K. (1997); “The Direct Cost of Financial Repression: Evidence from India”, The Review of Economics and Statistics, 79(2), 311-20.
  • Diaz-Alejandro, C. (1985); “Goodbye Financial Repression, Hello Financial Repression”, Journal of Development Economics, 19, 1-24.
  • Dollar, D. (1992); “Outward-Oriented Developing Economies Really do Grow more Rapidly: Evidence from 95 LDCs, 1976-1985”, Economic Development and Cultural Change, 40, 523–544.
  • DPT (2000); Küreselleşme Özel İhtisas Raporu, Ankara
  • Dritsakis, N. ve Adamopoulos, A. (2004); “Financial Development and Economic Growth in Greece: An Empirical Investigation with Granger Causality Analysis”, International Economic Journal, 18(4), 547-559.
  • Edison, H.J., Levine, R., Ricci, L.A. ve Slok, T. (2002); “International Financial Integration and Economic Growth”, Journal of International Money and Finance, 21(6), 749-776.
  • Edison, H.J., Klein, M., Ricci, L.A. ve Slok, T. (2004); “Capital Account Liberalization and Economic Performance: Survey and Synthesis”, IMF Staff Papers, 51(2), 220-56.
  • Edwards, S. (2002); “Does the Current Account Matter?, içinde Edwards, S. ve Frankel, J.A. (eds.), Preventing currency Crises in Emerging Markets, University of Chicago Press, 21-69.
  • Edwards, S. ve Van Wijnbergen, S. (1986); “The Welfare Effects of Trade and Capital Market Liberalization”, International Economic Review, 27(1), 141-48.
  • Engle, R.F. ve Granger, C.W.J. (1987); “Co-Integration and Error Correction: Representation, Estimation and Testing”, Econometrica, 55, 251-276.
  • Esfahani, H.S. (1991); “Exports, Imports and Economic Growth in Semi-Industrialized Countries”, Journal of Development Economics, 35, 93-116.
  • Feijen, E. ve Perotti, E.C. (2005); “The Political Economy of Financial Fragility,” CEPR Discussion Papers, http://www.cepr.org/pubs/dps/DP5317.asp, (07.02.2007).
  • Frankel, J.A. ve Romer, D. (1999); “Does Trade Cause Growth?”, American Economic Review, 89(3), 379- 399.
  • Frankel, J.A. ve Cavallo, E.A. (2004); “Does Openness to Trade make Countries more Volnurable to Sudden Stops, or Less? Using Gravity to Establish Causality”, NBER Working Paper No:10957, http://www.nber.org/papers/w10957, (15.12.2006).
  • Galindo, A. Micco, A. ve Ordonez, G. (2002); “Financial Liberalization and Growth: Empirical Evidence”, Inter American Development Bank, http://www.worldbank.org, (01.03.2007).
  • Ghali, K. (1999); “Financial Development and Economic Growth: The Tynisian Experience”, Review of Development Economics, 3(3), 310-322.
  • Ghartey, E.E. (1993); “Causal Relationship Between Exports and Economic Growth: Some Empirical Evidence in Taiwan, Japan and the U.S.”, Applied Economics, 25(9), 1145-52.
  • Ghatak, S. Milner, C., ve Utkulu, U. (1997); “Exports, Export Composition and Economic Growth: Cointegration and Causality Evidence for Malaysia’, Applied Economics, 29, 213-223.
  • Greenaway, D., Morgan, W. ve Wright, P. (2002); “Trade Liberalisation and Growth in Developing Countries”, Journal of Development Economics, 67, 229-244.
  • Grilli, V. ve Milesi-Ferretti, G.M. (1995); “Economic Effects and Structural Determinants of Capital Controls”, IMF Staff Papers, 42(3), 517-551.
  • Gujarati, D.N. (1999); Temel Ekonometri, (Çev. Şenesen, Ü.; Şenesen, G.G.), Literatür Yayınları, İstanbul.
  • Gürsoy, T. ve Müslümov, A. (1998); Stock Markets and Economic Growth: A Causality Test, MBA Thesis, Institute of Social Sciences, Istanbul.
  • Haring, J.E. ve Humprey, J.F. (1964); “Simple Models of Trade Expansion”, Western Economic Journal, Spring, 173-94.
  • Hay, D.A. (2001); “The post 1990 Brazilian Trade Liberalisation and The Performance of Large Manufacturing Firms: Productivity, Market Share and Pprofits”, Economic Journal, 111(473), 620-41.
  • Hellmann, T., Murdock, K. ve Stiglitz, J.E. (2000); “Liberalization, Moral Hazard in Banking and Prudential Regulation: Are Capital Requirements Enough?”, American Economic Review, 90(1), 147-165.
  • Irwin D. ve Tervio, M. (2002); “Does Trade Raise Income?: Evidence from the Twentieth Century”, Journal of International Economics, 58(1), 1-18.
  • Jim, L. ve Ramesh, C. (2005); “Testing Export-Led Growth in South Asia”, Journal of Economic Studies, 32(2), 132-145
  • Johansen, S. ve Juselius, K. (1990); “Maximum Likelihood Estimation and Inference on Cointegration-with Application to the Demand for Money”, Oxford Bulletin of Economics and Statistics, 52, 169-210.
  • Jung, W.S. (1986); “Financial Development and Economic Growth: International Evidence”, Economic Development and Cultural Change, 34(2), 333-346.
  • Jung, W.S. ve Marshall, P.J. (1985); “Exports, Growth and Causality in Developing Countries”, Journal of Development Economics, 18, 1-12.
  • Kaminski, G. ve Reinhart, C. (1999); “The Twin Crises: The Causes of Banking and Balance of Payments Problems”, American Economic Review, 89, 473-500.
  • Kang, S.J. ve Sawada, Y. (2000); “Financial Repression and External Openness in an Endogenous Growth Model”, Journal of International Trade and Economic Development, 9(4), 427-443.
  • King, R. ve Levine, R. (1993); “Finance and Growth: Schumpeter Might Be Right”, The Quarterly Journal of Economics, 108(3), 717-37.
  • Kormendi, R.C. ve Mequire, P.G. (1985); “Macroeconomic Determinants of Growth: Cross-Country Evidence”, Journal of Monetary Economics, 16(2), 141-63.
  • Kunst, R.M. ve Marin, D. (1989); “On Exports and Productivity: A Causal Analysis”, Review of Economics and Statistics, 71, 699-703.
  • Lee, J.W. (1996); “Government Interventions and Productivity Growth”, Journal of Economic Growth, 1(3), 391-414.
  • Levine, R. (1997); “Financial Development and Economic Growth: Views and Agenda”, Journal of Economic Literature, 35(2), 688-726.
  • Liu, X., Song, H. ve Romilly, P. (1997); “An Empirical Investigation of the Causal Relationship between Openness and Economic Growth in China”, Applied Economics, 29, 1679-87.
  • Luintel, K. B. ve Khan, M. (1999); “A Guantitative Reassessment of the Finance-growth Nexus: Evidence from a Multivariate VAR”, Journal of Development Economics 60, 381-405.
  • Michaely, M. (1977); “Exports and Growth: An Empirical Investigation,” Journal of Development Economics, 4, 49-53.
  • Miller, S.M. ve Upadhyay, M.P. (2000); “The Effects of Openness, Trade Orientation, and Human Capital on Total Factor Productivity”, Journal of Development Economics, 63, 399-423.
  • Mishkin, F.S. (2003); “Financial Policies and the Prevention of Financial Crises in Emerging Market Countries,” içinde Feldstein, M. (eds.), Economic and Financial Crises in Emerging Market Economies, University of Chicago Press, 93-130.
  • Murinde, V. ve Eng, F. (1994), “Financial Development and Economic Growth in Singapore: Demand Following or Supply-Leading?, Applied Financial Economics, 4, 391-404.
  • Odekon, M. (2002); “Finansal Liberalizasyon ve Yatırım”, Briefing Notes in Economics Issue, No. 53, http://www.richmond.ac.uk/bne/odekon_Issue53.pdf, (22.12.2006).
  • Onur, S. (2005); “Finansal Liberalizasyon ve GSMH Büyümesi Arasındaki İlişki”, ZKÜ Sosyal Bilimler Dergisi, 1(1), 127-52.
  • Osinski, D. (2000); “The Relationship Between Financial Development and Economic Growth in Transition Economies”,
  • National University of Kyiv-Mohyla Academy, 1-31,
  • http://www.eerc.org/research/matheses/2000/Asinski_Dzmitry/body.pdf , (10.12.2006).
  • Oxley, L. (1993); “Cointegration, Causality and Export-Led Growth in Portugal, 1865-1985”, Economics Letters, 43, 163-66.
  • Rajan, R. ve Zingales, L. (1998); “Financial Dependence and Growth”, American Economic Review, 88(3), 559-86
  • Riezman, R.G.,Whiteman, C.H. ve Summers, P.M. (1996); “The Engine of Growth or its Handmaiden? A time- Series Assessment of Export-Led Growth”, Empirical Economics, 21(1), 77-110.
  • Rodriguez, F. ve Rodrik, D., (2000); “Trade Policy and Economic Growth: A Skeptic’s Guide to the Cross- National Evidence”, NBER Macroeconomic Annual, 15, 235-261.
  • Rodrik, D. (1998); “Why do More Open Economies have Bigger Governments?”, Journal of Political Economy, 106(5), 997-1034.
  • _______(1999); “Where Did All The Growth Go? External Shocks, Social Conflict, and Growth Collapses”, Journal of Economic Growth, 4, 358-412.
  • _______(2001); “The Global Governance of Trade as if Development Really Mattered, UNDP: New York, 58, 1-41, http://ksghome.harvard.edu/~drodrik/UNDPtrade.PDF, (01.12.2006).
  • Sachs, J.D. ve Warner, A. (1995), “Economic Reform and the Process of Global Integration”, Brookings Papers on Economic Activity, 1-118.
  • Shan, J. ve Morris, A. (2002); “Does Financial Development Lead Economic Growth?”, International Review of Applied Economics, 16(2), 153-68.
  • Shan, J.Z. ve Sun, F. (1998); “Export-Led Growth Hypothesis for Australia: An Empirical Reinvestigation”, Applied Economics Letters, 5, 423-8.
  • Shan, J.Z., Morris, A.G. ve Sun, F. (2001); “Financial Development and Economic Growth: An Egg-and- Chicken Problem?”, Review of International Economics, 9(3), 443-454.
  • Silva, G.F. (2002); “The Impact of Financial System Development On Business Cycles Volatility: Cross- Country Evidence”, Journal of Macroeconomics, 24, 233-253.
  • Singh, A. (2003); “Capital Account Liberalisation, Free Long-Term Capital Flows, Financial Crises and Economic Development”, Eastern Economic Journal, 29(2), 191-216.
  • Sinha, D. ve Macri, J. (2001); “Financial Development and Economic Growth: The Case of Eight Asian Countries, Economia Internazionale, 54(2), 219-234.
  • Sinha, T. ve Sinha, D. (1999); “The Relationship Between Openness and Economic Growth: Evidence from 124 Countries”, Seoul Journal of Economics, 12(1), 67-83.
  • Söderbom, M. ve Teal, F. (2003); “Openness and Human Capital as Sources of Productivity Growth: An Empirical Investigation”, CSAE Working Paper Series, No: 2003-06, 1-30.
  • Tornell, A. Westermann, F. ve Martinez, L. (2004); “The Positive Link Between Financial Liberalization Growth and Crises”, NBER Working Papers 1-55, http://www.nber.org/papers/w10293.pdf, (12.12.2006).
  • Tsen, W.H. (2006); “Granger Causality Tests Among Openness to International Trade, Human Capital Accumulation and Economic Growth in China: 1952-1999”, International Economic Journal, 20(3), 285-302.
  • Utkulu, U. ve Kahyaoğlu, H. (2005); “Ticari ve Finansal Açıklık Türkiye’de Büyümeyi Ne Yönde Etkiledi?”, Türkiye Ekonomi Kurumu Tartışma Metni 2005/13, 1-31, http://www.tek.org.tr/dosyalar/Utkulu- 2005.pdf, (02.02.2007).
  • Utkulu, U. ve Özdemir, D. (2004); “Does Trade Liberalization Cause a Long Run Economic Growth in Turkey”, Economics of Planning, 37, 245–266.
  • Van Den Berg, H. (1996); “Does Simultaneity Exaggerate Empirical Tests of Trade-Growth Relationship?”, Applied Economics Letters, 3(4), 225-231.
  • Voivodas, C.S. (1973); “Exports, Foreign Capital Inflows and Economic Growth,” Journal of International Economics, 22, 337-49.
  • Wacziarg, R. (2001); “Measuring the Dynamic Gains from Trade”, The World Bank Economic Review, 15(3), 393-429.
  • Waqabaca, C. (2004); “Financial Development and Economic Growth In Fiji”, Economics Department Reserve Bank of Fiji Working Paper, 1-42, http://www.reservebank.gov.fj/docs/2004_03_wp.pdf, (25.01.2007).
  • Williamson, J. ve Mahar, M. (1998); Survey of Financial Liberalization, Essays in International Finance, No: 211, Princeton.
  • Yanıkkaya, H. (2003); “Trade Openness and Economic Growth: A Cross-Country Empirical Investigation”, Journal of Development Economics, 72, 57-89.
  • Yılmaz, Ş.E. (1992); Dış Ticaret Kuramlarının Evrimi, Gazi Üniversitesi Yayın No: 178, İİBF Yayın No:57, Ankara.

Yıl 2007, Sayı: 5, 67 - 89, 19.09.2011

Yrd. Doç. Dr. Sevda Yapraklı

Öz

Kaynakça

  • Acemoglu, D., Aghion, P. ve Zilibotti, F. (2006); “Distance to Frontier, Selection, and Economic Growth”, Journal of the European Economic Association, 4(1), 37-74.
  • Afxentiou, P.C. ve Serletis, A. (1992); “Openness in the Canadian Economy: 1870–1988”, Applied Economics, 24(11), 1191-98.
  • Aizenman, J. (2004a); “Financial Opening and Development: Evidence and Policy Controversies”, American Economic Review, 92(2), 65-70.
  • _______(2004b); “On the Hidden Links Between Financial and Trade Opening”, NBER Working Paper, No: 9906, 1-25.
  • Alam, M.S. (1991); “Trade Orientation and Macroeconomic Performance in LDCs: An Empirical Study”, Economic Development and Cultural Change, 39, 839-48.
  • Alper, C. E. ve Z. Öniş (2001); “Finansal Küreselleşme, Demokrasi Açığı ve Yükselen Piyasalarda Yaşanan Sürekli Krizler: Sermaye Hareketlerinin Liberalleşmesi Sonrasında Türkiye Deneyimi”, Doğu Batı Dergisi, 4(17), 203-225.
  • Anoruo, E. ve Ahmad, Y. (1999); “Openness and Economic Growth: Evidence From Selected Asean Countries”, The Indian Economic Journal, 47(3), 110-17.
  • Anwer, M.S. ve Sampath, R.K. (1999); “Exports and Economic Growth”, The Indian Economic Journal, 47(3), 79-88.
  • Arestis, P. ve Demetriades, P. (1997); “Financial Dvelopment and Economic Growth: Assessing the Evidence”, The Economic Journal, 107, 783-99.
  • Arnold, J., Javorcik, B.S. ve Mattoo, A. (2006); “Does Services Liberalization Benefit Manufacturing Firms? Evidence from the Czech Republic”, CEPR Discussion Paper, No: 5902, 1-39.
  • Aslan, Ö. ve Küçükaksoy, İ. (2006); “Finansal Gelişme ve Ekonomik Büyüme İlişkisi: Türkiye Ekonomisi Üzerine Ekonometrik Bir Uygulama”, Ekonometri ve İstatistik Dergisi, 4, 12-28.
  • Balassa, B. (1978); “Exports and Economic Growth: Further Evidence,” Journal of Development Economics, 5, 181-89.
  • Beck, T., Levine, R. ve Loayza, N. (2000); “Finance and the Sources of Growth”, Journal of Financial Economics, 58(1-2), 261-300.
  • Boyd, J. H. ve Smith, B.D. (1992); “Intermediation and the Equilibrium Allocation of Investment Capital: Implications for Economic Development”, Journal of Monetary Economics, 30, 409-32.
  • Brandt, C. (2004); “Economic Growth and Openness An Econometric Analysis for Regions”, Department of Economics University Ulm, 1-19, http://www.iwh- halle.de/d/start/News/workshop_makro/ws5/Brandt.pdf (05.02.2007).
  • Calderon, C. ve Liu, L. (2003); “The Direction of Causality Between Financial Development and Economic Growth”, Journal of Development Economics, 72, 321-334.
  • Caprio, G.J. ve Klingebiel, D. (1997); “Bank Insolvency: Bad Luck, Bad Policy, or Bad Banking?”, içinde Bruno, M. ve Pleskovic, B. (der.), Annual World Bank Conference on Development Economics, Washington: The World Bank, 1-24.
  • Carmignani, F. ve Chowdhury, A. (2005); “Does Financial Openness Promote Economic Integration? Some Evidence from Europe and the CIS”, United Nations University, Unu-Wider World Institute for Development Economics Research, No: 2005/74, 1-17.
  • Chandra, R. (2002); “Export Growth and Economic Growth: An Investigation of Causality in India”, Indian Economic Journal, 49(3), 64-73.
  • Charemza, W.W. ve Deadman, D.F. (1993); New Directions in Econometric Practice: General to Specific Modelling Cointegration and Vector Autoregression, Aldershot, Hanst: Edward Elgar Publishing Limited, Cambridge.
  • Dağdelen, İ. (2004); “Liberalizasyon”, Uluslararası İnsan Bilimleri Dergisi, 1(1), 1-66.
  • Darrat, A. (1987); “Are Exports Engine of Growth? Another Look at the Evidence”, Applied Economics, 19, 277-83.
  • Demetriades P.O. ve Hussein, K.A. (1996); “Does Financial Development Cause Economic Growth? Time- Series Evidence from 16 Countries”, Journal of Development Economics, 51, 387-411.
  • Demetriades, P. ve Luintel, K. (1997); “The Direct Cost of Financial Repression: Evidence from India”, The Review of Economics and Statistics, 79(2), 311-20.
  • Diaz-Alejandro, C. (1985); “Goodbye Financial Repression, Hello Financial Repression”, Journal of Development Economics, 19, 1-24.
  • Dollar, D. (1992); “Outward-Oriented Developing Economies Really do Grow more Rapidly: Evidence from 95 LDCs, 1976-1985”, Economic Development and Cultural Change, 40, 523–544.
  • DPT (2000); Küreselleşme Özel İhtisas Raporu, Ankara
  • Dritsakis, N. ve Adamopoulos, A. (2004); “Financial Development and Economic Growth in Greece: An Empirical Investigation with Granger Causality Analysis”, International Economic Journal, 18(4), 547-559.
  • Edison, H.J., Levine, R., Ricci, L.A. ve Slok, T. (2002); “International Financial Integration and Economic Growth”, Journal of International Money and Finance, 21(6), 749-776.
  • Edison, H.J., Klein, M., Ricci, L.A. ve Slok, T. (2004); “Capital Account Liberalization and Economic Performance: Survey and Synthesis”, IMF Staff Papers, 51(2), 220-56.
  • Edwards, S. (2002); “Does the Current Account Matter?, içinde Edwards, S. ve Frankel, J.A. (eds.), Preventing currency Crises in Emerging Markets, University of Chicago Press, 21-69.
  • Edwards, S. ve Van Wijnbergen, S. (1986); “The Welfare Effects of Trade and Capital Market Liberalization”, International Economic Review, 27(1), 141-48.
  • Engle, R.F. ve Granger, C.W.J. (1987); “Co-Integration and Error Correction: Representation, Estimation and Testing”, Econometrica, 55, 251-276.
  • Esfahani, H.S. (1991); “Exports, Imports and Economic Growth in Semi-Industrialized Countries”, Journal of Development Economics, 35, 93-116.
  • Feijen, E. ve Perotti, E.C. (2005); “The Political Economy of Financial Fragility,” CEPR Discussion Papers, http://www.cepr.org/pubs/dps/DP5317.asp, (07.02.2007).
  • Frankel, J.A. ve Romer, D. (1999); “Does Trade Cause Growth?”, American Economic Review, 89(3), 379- 399.
  • Frankel, J.A. ve Cavallo, E.A. (2004); “Does Openness to Trade make Countries more Volnurable to Sudden Stops, or Less? Using Gravity to Establish Causality”, NBER Working Paper No:10957, http://www.nber.org/papers/w10957, (15.12.2006).
  • Galindo, A. Micco, A. ve Ordonez, G. (2002); “Financial Liberalization and Growth: Empirical Evidence”, Inter American Development Bank, http://www.worldbank.org, (01.03.2007).
  • Ghali, K. (1999); “Financial Development and Economic Growth: The Tynisian Experience”, Review of Development Economics, 3(3), 310-322.
  • Ghartey, E.E. (1993); “Causal Relationship Between Exports and Economic Growth: Some Empirical Evidence in Taiwan, Japan and the U.S.”, Applied Economics, 25(9), 1145-52.
  • Ghatak, S. Milner, C., ve Utkulu, U. (1997); “Exports, Export Composition and Economic Growth: Cointegration and Causality Evidence for Malaysia’, Applied Economics, 29, 213-223.
  • Greenaway, D., Morgan, W. ve Wright, P. (2002); “Trade Liberalisation and Growth in Developing Countries”, Journal of Development Economics, 67, 229-244.
  • Grilli, V. ve Milesi-Ferretti, G.M. (1995); “Economic Effects and Structural Determinants of Capital Controls”, IMF Staff Papers, 42(3), 517-551.
  • Gujarati, D.N. (1999); Temel Ekonometri, (Çev. Şenesen, Ü.; Şenesen, G.G.), Literatür Yayınları, İstanbul.
  • Gürsoy, T. ve Müslümov, A. (1998); Stock Markets and Economic Growth: A Causality Test, MBA Thesis, Institute of Social Sciences, Istanbul.
  • Haring, J.E. ve Humprey, J.F. (1964); “Simple Models of Trade Expansion”, Western Economic Journal, Spring, 173-94.
  • Hay, D.A. (2001); “The post 1990 Brazilian Trade Liberalisation and The Performance of Large Manufacturing Firms: Productivity, Market Share and Pprofits”, Economic Journal, 111(473), 620-41.
  • Hellmann, T., Murdock, K. ve Stiglitz, J.E. (2000); “Liberalization, Moral Hazard in Banking and Prudential Regulation: Are Capital Requirements Enough?”, American Economic Review, 90(1), 147-165.
  • Irwin D. ve Tervio, M. (2002); “Does Trade Raise Income?: Evidence from the Twentieth Century”, Journal of International Economics, 58(1), 1-18.
  • Jim, L. ve Ramesh, C. (2005); “Testing Export-Led Growth in South Asia”, Journal of Economic Studies, 32(2), 132-145
  • Johansen, S. ve Juselius, K. (1990); “Maximum Likelihood Estimation and Inference on Cointegration-with Application to the Demand for Money”, Oxford Bulletin of Economics and Statistics, 52, 169-210.
  • Jung, W.S. (1986); “Financial Development and Economic Growth: International Evidence”, Economic Development and Cultural Change, 34(2), 333-346.
  • Jung, W.S. ve Marshall, P.J. (1985); “Exports, Growth and Causality in Developing Countries”, Journal of Development Economics, 18, 1-12.
  • Kaminski, G. ve Reinhart, C. (1999); “The Twin Crises: The Causes of Banking and Balance of Payments Problems”, American Economic Review, 89, 473-500.
  • Kang, S.J. ve Sawada, Y. (2000); “Financial Repression and External Openness in an Endogenous Growth Model”, Journal of International Trade and Economic Development, 9(4), 427-443.
  • King, R. ve Levine, R. (1993); “Finance and Growth: Schumpeter Might Be Right”, The Quarterly Journal of Economics, 108(3), 717-37.
  • Kormendi, R.C. ve Mequire, P.G. (1985); “Macroeconomic Determinants of Growth: Cross-Country Evidence”, Journal of Monetary Economics, 16(2), 141-63.
  • Kunst, R.M. ve Marin, D. (1989); “On Exports and Productivity: A Causal Analysis”, Review of Economics and Statistics, 71, 699-703.
  • Lee, J.W. (1996); “Government Interventions and Productivity Growth”, Journal of Economic Growth, 1(3), 391-414.
  • Levine, R. (1997); “Financial Development and Economic Growth: Views and Agenda”, Journal of Economic Literature, 35(2), 688-726.
  • Liu, X., Song, H. ve Romilly, P. (1997); “An Empirical Investigation of the Causal Relationship between Openness and Economic Growth in China”, Applied Economics, 29, 1679-87.
  • Luintel, K. B. ve Khan, M. (1999); “A Guantitative Reassessment of the Finance-growth Nexus: Evidence from a Multivariate VAR”, Journal of Development Economics 60, 381-405.
  • Michaely, M. (1977); “Exports and Growth: An Empirical Investigation,” Journal of Development Economics, 4, 49-53.
  • Miller, S.M. ve Upadhyay, M.P. (2000); “The Effects of Openness, Trade Orientation, and Human Capital on Total Factor Productivity”, Journal of Development Economics, 63, 399-423.
  • Mishkin, F.S. (2003); “Financial Policies and the Prevention of Financial Crises in Emerging Market Countries,” içinde Feldstein, M. (eds.), Economic and Financial Crises in Emerging Market Economies, University of Chicago Press, 93-130.
  • Murinde, V. ve Eng, F. (1994), “Financial Development and Economic Growth in Singapore: Demand Following or Supply-Leading?, Applied Financial Economics, 4, 391-404.
  • Odekon, M. (2002); “Finansal Liberalizasyon ve Yatırım”, Briefing Notes in Economics Issue, No. 53, http://www.richmond.ac.uk/bne/odekon_Issue53.pdf, (22.12.2006).
  • Onur, S. (2005); “Finansal Liberalizasyon ve GSMH Büyümesi Arasındaki İlişki”, ZKÜ Sosyal Bilimler Dergisi, 1(1), 127-52.
  • Osinski, D. (2000); “The Relationship Between Financial Development and Economic Growth in Transition Economies”,
  • National University of Kyiv-Mohyla Academy, 1-31,
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  • Oxley, L. (1993); “Cointegration, Causality and Export-Led Growth in Portugal, 1865-1985”, Economics Letters, 43, 163-66.
  • Rajan, R. ve Zingales, L. (1998); “Financial Dependence and Growth”, American Economic Review, 88(3), 559-86
  • Riezman, R.G.,Whiteman, C.H. ve Summers, P.M. (1996); “The Engine of Growth or its Handmaiden? A time- Series Assessment of Export-Led Growth”, Empirical Economics, 21(1), 77-110.
  • Rodriguez, F. ve Rodrik, D., (2000); “Trade Policy and Economic Growth: A Skeptic’s Guide to the Cross- National Evidence”, NBER Macroeconomic Annual, 15, 235-261.
  • Rodrik, D. (1998); “Why do More Open Economies have Bigger Governments?”, Journal of Political Economy, 106(5), 997-1034.
  • _______(1999); “Where Did All The Growth Go? External Shocks, Social Conflict, and Growth Collapses”, Journal of Economic Growth, 4, 358-412.
  • _______(2001); “The Global Governance of Trade as if Development Really Mattered, UNDP: New York, 58, 1-41, http://ksghome.harvard.edu/~drodrik/UNDPtrade.PDF, (01.12.2006).
  • Sachs, J.D. ve Warner, A. (1995), “Economic Reform and the Process of Global Integration”, Brookings Papers on Economic Activity, 1-118.
  • Shan, J. ve Morris, A. (2002); “Does Financial Development Lead Economic Growth?”, International Review of Applied Economics, 16(2), 153-68.
  • Shan, J.Z. ve Sun, F. (1998); “Export-Led Growth Hypothesis for Australia: An Empirical Reinvestigation”, Applied Economics Letters, 5, 423-8.
  • Shan, J.Z., Morris, A.G. ve Sun, F. (2001); “Financial Development and Economic Growth: An Egg-and- Chicken Problem?”, Review of International Economics, 9(3), 443-454.
  • Silva, G.F. (2002); “The Impact of Financial System Development On Business Cycles Volatility: Cross- Country Evidence”, Journal of Macroeconomics, 24, 233-253.
  • Singh, A. (2003); “Capital Account Liberalisation, Free Long-Term Capital Flows, Financial Crises and Economic Development”, Eastern Economic Journal, 29(2), 191-216.
  • Sinha, D. ve Macri, J. (2001); “Financial Development and Economic Growth: The Case of Eight Asian Countries, Economia Internazionale, 54(2), 219-234.
  • Sinha, T. ve Sinha, D. (1999); “The Relationship Between Openness and Economic Growth: Evidence from 124 Countries”, Seoul Journal of Economics, 12(1), 67-83.
  • Söderbom, M. ve Teal, F. (2003); “Openness and Human Capital as Sources of Productivity Growth: An Empirical Investigation”, CSAE Working Paper Series, No: 2003-06, 1-30.
  • Tornell, A. Westermann, F. ve Martinez, L. (2004); “The Positive Link Between Financial Liberalization Growth and Crises”, NBER Working Papers 1-55, http://www.nber.org/papers/w10293.pdf, (12.12.2006).
  • Tsen, W.H. (2006); “Granger Causality Tests Among Openness to International Trade, Human Capital Accumulation and Economic Growth in China: 1952-1999”, International Economic Journal, 20(3), 285-302.
  • Utkulu, U. ve Kahyaoğlu, H. (2005); “Ticari ve Finansal Açıklık Türkiye’de Büyümeyi Ne Yönde Etkiledi?”, Türkiye Ekonomi Kurumu Tartışma Metni 2005/13, 1-31, http://www.tek.org.tr/dosyalar/Utkulu- 2005.pdf, (02.02.2007).
  • Utkulu, U. ve Özdemir, D. (2004); “Does Trade Liberalization Cause a Long Run Economic Growth in Turkey”, Economics of Planning, 37, 245–266.
  • Van Den Berg, H. (1996); “Does Simultaneity Exaggerate Empirical Tests of Trade-Growth Relationship?”, Applied Economics Letters, 3(4), 225-231.
  • Voivodas, C.S. (1973); “Exports, Foreign Capital Inflows and Economic Growth,” Journal of International Economics, 22, 337-49.
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  • Waqabaca, C. (2004); “Financial Development and Economic Growth In Fiji”, Economics Department Reserve Bank of Fiji Working Paper, 1-42, http://www.reservebank.gov.fj/docs/2004_03_wp.pdf, (25.01.2007).
  • Williamson, J. ve Mahar, M. (1998); Survey of Financial Liberalization, Essays in International Finance, No: 211, Princeton.
  • Yanıkkaya, H. (2003); “Trade Openness and Economic Growth: A Cross-Country Empirical Investigation”, Journal of Development Economics, 72, 57-89.
  • Yılmaz, Ş.E. (1992); Dış Ticaret Kuramlarının Evrimi, Gazi Üniversitesi Yayın No: 178, İİBF Yayın No:57, Ankara.
Toplam 98 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Yrd. Doç. Dr. Sevda Yapraklı Bu kişi benim

Yayımlanma Tarihi 19 Eylül 2011
Yayımlandığı Sayı Yıl 2007 Sayı: 5

Kaynak Göster

APA Yapraklı, Y. D. D. S. (2011). TİCARİ VE FİNANSAL DIŞA AÇIKLIK İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: TÜRKİYE ÜZERİNE BİR UYGULAMA. Istanbul University Econometrics and Statistics E-Journal(5), 67-89.
AMA Yapraklı YDDS. TİCARİ VE FİNANSAL DIŞA AÇIKLIK İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: TÜRKİYE ÜZERİNE BİR UYGULAMA. Istanbul University Econometrics and Statistics e-Journal. Eylül 2011;(5):67-89.
Chicago Yapraklı, Yrd. Doç. Dr. Sevda. “TİCARİ VE FİNANSAL DIŞA AÇIKLIK İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: TÜRKİYE ÜZERİNE BİR UYGULAMA”. Istanbul University Econometrics and Statistics E-Journal, sy. 5 (Eylül 2011): 67-89.
EndNote Yapraklı YDDS (01 Eylül 2011) TİCARİ VE FİNANSAL DIŞA AÇIKLIK İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: TÜRKİYE ÜZERİNE BİR UYGULAMA. Istanbul University Econometrics and Statistics e-Journal 5 67–89.
IEEE Y. D. D. S. Yapraklı, “TİCARİ VE FİNANSAL DIŞA AÇIKLIK İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: TÜRKİYE ÜZERİNE BİR UYGULAMA”, Istanbul University Econometrics and Statistics e-Journal, sy. 5, ss. 67–89, Eylül 2011.
ISNAD Yapraklı, Yrd. Doç. Dr. Sevda. “TİCARİ VE FİNANSAL DIŞA AÇIKLIK İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: TÜRKİYE ÜZERİNE BİR UYGULAMA”. Istanbul University Econometrics and Statistics e-Journal 5 (Eylül 2011), 67-89.
JAMA Yapraklı YDDS. TİCARİ VE FİNANSAL DIŞA AÇIKLIK İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: TÜRKİYE ÜZERİNE BİR UYGULAMA. Istanbul University Econometrics and Statistics e-Journal. 2011;:67–89.
MLA Yapraklı, Yrd. Doç. Dr. Sevda. “TİCARİ VE FİNANSAL DIŞA AÇIKLIK İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: TÜRKİYE ÜZERİNE BİR UYGULAMA”. Istanbul University Econometrics and Statistics E-Journal, sy. 5, 2011, ss. 67-89.
Vancouver Yapraklı YDDS. TİCARİ VE FİNANSAL DIŞA AÇIKLIK İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: TÜRKİYE ÜZERİNE BİR UYGULAMA. Istanbul University Econometrics and Statistics e-Journal. 2011(5):67-89.