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FİNANSALLAŞMA SORUNSALI VE İMKB ÖRNEĞİ

Year 2012, Issue: 16, 12 - 43, 02.12.2014

İşıl Tellalbaşı

Abstract

Dünya genelinde, finans piyasaları özellikle son otuz yıllık dönemde; piyasa hacimleri, işlem yoğunluğu ve bağlı oldukları düzenleyici otoritelerin kuralları açısından son derece önemli bir evrim yasamaktadırlar.Dünyanın geleneksel olarak önemli likidite merkezleri olan finansal metropoller daha fazla globalleşirken,yerel ölçekteki finansal piyasalar da birbirlerine entegre olmak zorunda kalmışlardır. Dolayısı ile finansalpiyasalar da yaşanan bu transformasyon yeni bir dönemin kapılarını aralamıştır.Kapitalizm tarihinde sürekli yaşanan krizlerden sonra kendine çıkış yolu bularak, sistemi devam ettirmistir. ABD’de yaşanan son küresel kriz finansal piyasalardaki entegrasyon nedeniyle domino etkisi göstererek dünya geneline yayılmıştır. Krizin küreselleşmesi ve etkilerinin daha ne kadar süreceğine ilişkin tereddütlerin devam etmesinin yanında, iktisadı yazında yeni tartışmaları başlatmıştır.Finansal piyasaların islem hacimlerinin artması, işlevinin artması, yeni finansal ürünlerin yaratılması, kısaca finans kapitalin öneminin artarak hayatın içine nüfuz etmesi bu değişimin yönünün ve nedenlerinin açıklanması için en önemli teorik sorunsallardan biri olmuştur.Çalışmada Genelleştirilmiş Momentler Tekniği kullanılarak ĐMKB Sınai Endeksi’nde yer alan şirketlerin finansallaşması analiz edilmiştir. Finansallaşma analizinde iki model kullanılarak bağımlı değişken olarak yatırım, bağımsız değişken olarak şirketlerin borçları, finansal kârları, kârları, satışları ve finansal ödemeleri ile modelinin kantitatif analizi yapılmıştır.Kantitatif çözümlemeler sonucunda, finansallaşmanın ekonominin lokomotifi olan üretim sektöründe, işletmelerin ve borçluluk düzeylerinin artmasının yatırım oranına pozitif bir katkı yaptığı gözlenmektedir.Diğer yandan her iki modelde de finansal kârlarla yatırım oranı arasındaki ilişki negatif çıkmıştır. Bu durumda finansal kârların artısının reel sektör yatırım davranışını azaltıcı bir etki yaptığı ileri sürülebilir.

Keywords

Finansallaşma mortgage krizi genelleştirilmiş momentler tekniği

References

  • Aglietta, M. (2000), “Shareholder Value and Corporate Governance: Some Tricky Questions” Economy and Society, 29(1), 146–59.
  • Aglietta, M. and R. Breton (2001), “Financial Systems, Corporate Control and Capital Accumulation” Economy and Society, 30(4), 433–66.
  • Akdiş, M. (2000), “Global Sistem, Finansal Krizler ve Türkiye”, Beta Yayın, Đstanbul.
  • Aktan, C, C. ve H. ŞEN (1999), Globalleşme, Ekonomik Kriz ve Türkiye, TOSYÖV Yayınları, Ankara.
  • Akyüz, Y. (2000), “Managing Financial Instability and Shocks”, Đktisat, Đşletme ve Finans Dergisi, Sayı: 219.
  • Akyüz, Y. (2000), ”Financial Liberalization: The Key Issues”, UNCTAD Discussion Papers, No: 56.
  • Akyüz,Y. and K.Boratav (2005), “The Making of the Turkish Crisis” in G. Epstein (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar.
  • Arellano, M. and S. Bond (1991), “Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Applicaton to Employment Equations”, Review of Economic Studies, 58 (2), pp. 227-297.
  • Blecker, R. (2005), “Financial Globalization, Exchange Rates and International Trade” in G. Epstein (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, pp. 183–219 . Boratav, K. ve Y. Akyüz (2002), “Türkiye’de Finansal Krizin Oluşumu, Đktisat Đşletme ve Finans Dergisi, Sayı: 197.
  • Boyer, R. (2000), “Is a Finance-led Growth Regime a Viable Alternative to Fordism? A Preliminary Analysis” Economy and Society, 29(1), 111–45.
  • Bryan, D. and M. Raffertty (2006), “Capitaism With Derivatives- A Political Economy of Financial Derivatives, Capital and Class”, New York. Chang, R. (1999), “Understanding Recent Crises in Emerging Markets” Economic Review, Federal Reserve Bank of Atlanta, Second Quarter.
  • Crotty, J. (2005), “The neoliberal paradox: the impact of destructive product market competition and modern financial markets on non-financial corporation performance in the neoliberal era”, in G. Epstein (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, pp. 77–110.
  • Crotty, J.and K. Lee (2005), “Economic performance in post-crisis Korea: a critical perspective on neoliberal restructuring” in G. Epstein (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, pp. 334–53.
  • D’ Arista, J. (2005), “The Role of the International Monetary System in Financialization, G. Epstein (vd) kitap bölümü, Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, ss.220-39.
  • Demir, F. (2007), “Private Investment, “Portfolio Choice and Financialization of Real Sectors in Emerging Markets”, University of Oklahoma, MPRA Paper No. 3835, November.
  • Demir, F. (2005), “Three Essays On Financial Liberalization, Country Risk And Low Growth Traps In Argentina, Mexico and Turkey, Yayınlanmamış Doktora Tezi, Graduate Program in Economics, Notre Dame.
  • Dore, R. (2002), “Stock Market Capitalism and its Discussion”, New Political Economy, 7(1), 115–21.
  • Drobetz, W., R. Fix (2003), “What are the Determinants of the Capital Structure? Some Evidence for Switzerland”, WWZ/Department of Finance, Working Paper No. 4/03.
  • Duch, R. (2008), “Longitudinal/Panel Data Analysis:Lecture 3 and 4”, (çevrimiçi) raymond.duch@nu_eld.ox.ac.uk raymondduch.com/class/panel data Erişim tarihi 08.05.2011.
  • Duménil, G. ve Lévy, D. (2003), “Periodizing Capitalism: Technology, Institutions, and Relations of Production”, www.jourdan.ens.fr/levy Erişim tarihi 18.08.2010.
  • Duménil, G. ve D. Lévy (2005), “Costs And Benefits Of Neoliberalism: A Class Analysis.” in Epstein, G. (Der.) Financialization And The World Economy. Northampton, US: Edward Elgar.
  • Eichengreen, B. (1996), “Globalizing Capital, A History of the International Monetary System”, New Jersey: Princeton University Press.
  • Eichengreen, B. (1999), “Toward a New International Financial Architecture: A Practical Post-Asia Agenda”, Washington, DC: Institute for International Economics.
  • Epstein, G. (2005), “Financialization and The World Economy”, Cheltenham, UK and Northampton, MA, USA: Edward Elgar.
  • Ertürk, Đ., J. Froud, S. Johal, A. Leaver and K. Williams (2008), “Financialization At Work: Key Texts and Commentary”, London; New York: Routledge.
  • Felix, D. (2005), “Why international Capital Mobility Should Be Curbed and How It Could Be Done” in G. Epstein (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, pp. 384–408.
  • Fine, B. (2008), “From Financialisation To Neo-Liberalism: Engaging NeoLiberalism” (School of Oriental and African Studies, University of London) http://www4.fe.uc.pt/ciclo_int/doc_08_09/02_holly_book_con.pdf Erişim tarihi 03.02.2011.
  • Frame, W. S., L. J. White (2004), “Empirical Studies of Financial Innovation: Lots of Talk, Little Action?” Journal of Economic Literature. V.42. i.1: 116-144.
  • Froud, F., C. Haslam, S. Johal & K. Williams (2000), “Shareholder Value and Financialization: Consultancy Promises, Management Moves, Economy and Society”, Volume 29, Issue 1, ss. 80-110.
  • Froud, J., C. Haslam, S. Johal, K. Williams (2001), “Financialisation and the Coupon Pool” Gestao & Producao, V.8, N.3, p. 271-288, University of Manchester.
  • Grabel, I. (2005), “Averting crisis? Assessing Measures to Manage Financial Integration in Emerging Economies”, G. Epstein (vd) kitap bolumu, Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, ss. 357-83.
  • Greene, W. H. (2002), “Economic Analysis ABD”, Prentice Hall Yayınları, 2002 Baskı.
  • Hansen, P. L. (1982), “Large Sample Properties of Generalized Method of Moments Estimators. Econometrica”, Journal of the Econometric Society, 50 (4), 1029-54. http://www.jstor.org/stable/pdfplus/1912775.pdf Erişim tarihi: 05.01.2011.
  • Harvey, D. (2004), “The Condition of Postmodernity: An Enquiry Into The Origins of Cultural Change”, First published 1990 by Blackwell Publishing Ltd. USA.
  • Harvey, D. (2005), “A Brief History of Neoliberalism”, Oxford, Oxford University Press.
  • Hasio, C. (2002), “Analysis of Panel Data”, New York: Cambridge University Press. Horne 1985.
  • Henwood, D. (1997), “Wall Street”, New York: Verso.
  • Henwood, D. (2003), “After the New Economy”, New York: New Press.
  • Heywood, A. (2007), “Politics, New York”, Palgrave Macmillan Press. ĐMKB, Mali Tablolar (2009 ve öncesi), http://www.imkb.gov.tr/FinancialTables/companiesfinancialstatements.aspx?sflang=tr Erişim Tarihi 14.04.2011. KAP (Kamuyu Aydınlatma Platformu) http://www.kap.gov.tr/yay/ek/index.aspx, Erişim Tarihi 15.04.2011.
  • Kotz, D. M. (2008), “Neoliberalism and Financialization” Political Economy Research Institute, University of Massachusetts Amherst, March 29, U.S.A. Krippner, G. (2005), “The Financialization of the American Economy” SocioEconomic Review, 3(2), 173–208.
  • Landreth, H. ve D.C. Colander (2003), “History of Economic Thought”, Fourth Edition, Houghton Mifflin Company.
  • Lapavitsas, C. (2007), “Neoliberal Dönemde Anayolcu Đktisat Kuramı, Neoliberalizm”, (Haz. A.S. Filho-D.Johnson), Đstanbul, Yordam Kitap.
  • Lapavitsas, C. (2009), “Financialisation Embroils Developing Countries”, Discussion Paper no: 14, August 2009 www.soas.ac.uk/rmf/papers/file53083.pdf Erişim tarihi 04.05.2010.
  • Lapavitsas, C. (2009), “Financialisation, or Search for Profits in the Sphere of Circulation”, Discussion Paper no:10, 11 May 2009 www.soas.ac.uk/rmf/papers/file51263.pdf Erişim tarihi 04.05.2010.
  • Lapavitsas, C. (2009), “Financialised Capitalism: Crises and Financial Expropriation”, Discussion Paper no:1, Department of Economics, School of Oriental and African Studies, 15 February 2009 www.soas.ac.uk/rmf/papers/file47508.pdf Erişim tarihi 04.05.2010.
  • Lind, J. (2006), “The Ghent System in the Nordic Countries- Still a Vehicle for Trade Unions to Recruit Members?”, Industrial Relations in Europe Conference (IREC). The Future of Social Models. (Ed. M. Stanojević ve J.N. Bergoĉ). Conference Proceedings, University of Ljubljana.
  • Lipietz, A. (1992), Towards a New Economic Order: Post-Fordism, Ecology and Democracy” (Çev. M. Slater), Oxford Unıversity Press, New York.
  • O’Connell, A. (2005), “The Argentine Financial Crisis in” G. Epstein (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA:Edward Elgar, pp. 289–313.
  • Onaran, Ö. Stockhammer, E. Graftl, L. (2010), “Financialization, income distribution and aggregate demand in the USA”, Middlesex University Busness School, Department of Economics and Statistics, Discussion Paper no. 136, March, London, UK.
  • Orhangazi, Ö. (2008), “Financialisation and Capital Accumulation in the NonFinancial Corporate Sector, A Theoretical and Empirical Investigation on the US Economy: 1973-2003”, Cambridge Journal of Economics, Advance Access Published on April 9, 2008, 32: 3
  • Orhangazi, Ö. (2008), “Financialization and the US Economy”, Published by Edward Elgar Publishing Limited, UK.
  • Painceira, P. J. (2009), “Developing Countries in the Era of Financialisation: From Deficit Accumulation to Reserve Accumulation”, Discussion Paper no 4, Department of Economics, School of Oriental and African Studies, 15 February 2009 www.soas.ac.uk/rmf/papers/file47511.pdf Erişim tarihi 4 Mayıs 2010.
  • Palley, T. I. (2007), “Financialization: What it is and Why it Matters”, Political Economy Research Institute, Working Paper Series, Number 153. www.peri.umass.edu
  • Paulre, B. (2010), “Crisis In The Global Economy, Financial Markets, Social
  • Struggles, and New Political Scenarios”, USA Sennett, R. (1998), “Corrasion of Character: The Personel Consequencences of Work In the New Capitalism”, W. W. Norton and Co, New York.
  • Skott, P. and S. Ryoo (2008), “Macroeconomic Implications of Financialization”, Working Paper, Department of Economics, University of Massachusetts, Amherst, MA.
  • Stockhammer, E. (2004), “Financialization and the Slowdown Of Accumulation”, Cambridge Journal Of Economics vol. 28 (5), pp. 719-741.
  • Stockhammer, E. (2007), “Some Stylized Facts on the Finance-Dominated Accumulation”, unpublished manuscript, Dept. of Economics, VWI, Wirtschaftuniversitat, Wien, Austria, July 16.
  • Verbeek, A. (2004), A Guide to Modern Econometrics”, West Sussex: John Wiley & Sons.
  • Wade, R. (2007), “A New Global Financial Architecture?”, New Left Review, N. 46, ss. 113–129.
  • Wade, H. R. (2005), “The March of Neoliberalism and What to do About It,” draft paper for plenary talk at conference Beyond ‘Deregulation’: Finance in the 21st Century, University of Sussex, 26-28 May 2005.
  • Wooldridge, J. (2001), “Applications of Generalized Method of Moments Estimation” Journal of Economic Perspectives, 15, 4 Erişim: 14.07.2011 http://www.ejep.org/archive/1504/15040087.pdf.

Year 2012, Issue: 16, 12 - 43, 02.12.2014

İşıl Tellalbaşı

Abstract

References

  • Aglietta, M. (2000), “Shareholder Value and Corporate Governance: Some Tricky Questions” Economy and Society, 29(1), 146–59.
  • Aglietta, M. and R. Breton (2001), “Financial Systems, Corporate Control and Capital Accumulation” Economy and Society, 30(4), 433–66.
  • Akdiş, M. (2000), “Global Sistem, Finansal Krizler ve Türkiye”, Beta Yayın, Đstanbul.
  • Aktan, C, C. ve H. ŞEN (1999), Globalleşme, Ekonomik Kriz ve Türkiye, TOSYÖV Yayınları, Ankara.
  • Akyüz, Y. (2000), “Managing Financial Instability and Shocks”, Đktisat, Đşletme ve Finans Dergisi, Sayı: 219.
  • Akyüz, Y. (2000), ”Financial Liberalization: The Key Issues”, UNCTAD Discussion Papers, No: 56.
  • Akyüz,Y. and K.Boratav (2005), “The Making of the Turkish Crisis” in G. Epstein (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar.
  • Arellano, M. and S. Bond (1991), “Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Applicaton to Employment Equations”, Review of Economic Studies, 58 (2), pp. 227-297.
  • Blecker, R. (2005), “Financial Globalization, Exchange Rates and International Trade” in G. Epstein (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, pp. 183–219 . Boratav, K. ve Y. Akyüz (2002), “Türkiye’de Finansal Krizin Oluşumu, Đktisat Đşletme ve Finans Dergisi, Sayı: 197.
  • Boyer, R. (2000), “Is a Finance-led Growth Regime a Viable Alternative to Fordism? A Preliminary Analysis” Economy and Society, 29(1), 111–45.
  • Bryan, D. and M. Raffertty (2006), “Capitaism With Derivatives- A Political Economy of Financial Derivatives, Capital and Class”, New York. Chang, R. (1999), “Understanding Recent Crises in Emerging Markets” Economic Review, Federal Reserve Bank of Atlanta, Second Quarter.
  • Crotty, J. (2005), “The neoliberal paradox: the impact of destructive product market competition and modern financial markets on non-financial corporation performance in the neoliberal era”, in G. Epstein (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, pp. 77–110.
  • Crotty, J.and K. Lee (2005), “Economic performance in post-crisis Korea: a critical perspective on neoliberal restructuring” in G. Epstein (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, pp. 334–53.
  • D’ Arista, J. (2005), “The Role of the International Monetary System in Financialization, G. Epstein (vd) kitap bölümü, Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, ss.220-39.
  • Demir, F. (2007), “Private Investment, “Portfolio Choice and Financialization of Real Sectors in Emerging Markets”, University of Oklahoma, MPRA Paper No. 3835, November.
  • Demir, F. (2005), “Three Essays On Financial Liberalization, Country Risk And Low Growth Traps In Argentina, Mexico and Turkey, Yayınlanmamış Doktora Tezi, Graduate Program in Economics, Notre Dame.
  • Dore, R. (2002), “Stock Market Capitalism and its Discussion”, New Political Economy, 7(1), 115–21.
  • Drobetz, W., R. Fix (2003), “What are the Determinants of the Capital Structure? Some Evidence for Switzerland”, WWZ/Department of Finance, Working Paper No. 4/03.
  • Duch, R. (2008), “Longitudinal/Panel Data Analysis:Lecture 3 and 4”, (çevrimiçi) raymond.duch@nu_eld.ox.ac.uk raymondduch.com/class/panel data Erişim tarihi 08.05.2011.
  • Duménil, G. ve Lévy, D. (2003), “Periodizing Capitalism: Technology, Institutions, and Relations of Production”, www.jourdan.ens.fr/levy Erişim tarihi 18.08.2010.
  • Duménil, G. ve D. Lévy (2005), “Costs And Benefits Of Neoliberalism: A Class Analysis.” in Epstein, G. (Der.) Financialization And The World Economy. Northampton, US: Edward Elgar.
  • Eichengreen, B. (1996), “Globalizing Capital, A History of the International Monetary System”, New Jersey: Princeton University Press.
  • Eichengreen, B. (1999), “Toward a New International Financial Architecture: A Practical Post-Asia Agenda”, Washington, DC: Institute for International Economics.
  • Epstein, G. (2005), “Financialization and The World Economy”, Cheltenham, UK and Northampton, MA, USA: Edward Elgar.
  • Ertürk, Đ., J. Froud, S. Johal, A. Leaver and K. Williams (2008), “Financialization At Work: Key Texts and Commentary”, London; New York: Routledge.
  • Felix, D. (2005), “Why international Capital Mobility Should Be Curbed and How It Could Be Done” in G. Epstein (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, pp. 384–408.
  • Fine, B. (2008), “From Financialisation To Neo-Liberalism: Engaging NeoLiberalism” (School of Oriental and African Studies, University of London) http://www4.fe.uc.pt/ciclo_int/doc_08_09/02_holly_book_con.pdf Erişim tarihi 03.02.2011.
  • Frame, W. S., L. J. White (2004), “Empirical Studies of Financial Innovation: Lots of Talk, Little Action?” Journal of Economic Literature. V.42. i.1: 116-144.
  • Froud, F., C. Haslam, S. Johal & K. Williams (2000), “Shareholder Value and Financialization: Consultancy Promises, Management Moves, Economy and Society”, Volume 29, Issue 1, ss. 80-110.
  • Froud, J., C. Haslam, S. Johal, K. Williams (2001), “Financialisation and the Coupon Pool” Gestao & Producao, V.8, N.3, p. 271-288, University of Manchester.
  • Grabel, I. (2005), “Averting crisis? Assessing Measures to Manage Financial Integration in Emerging Economies”, G. Epstein (vd) kitap bolumu, Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA: Edward Elgar, ss. 357-83.
  • Greene, W. H. (2002), “Economic Analysis ABD”, Prentice Hall Yayınları, 2002 Baskı.
  • Hansen, P. L. (1982), “Large Sample Properties of Generalized Method of Moments Estimators. Econometrica”, Journal of the Econometric Society, 50 (4), 1029-54. http://www.jstor.org/stable/pdfplus/1912775.pdf Erişim tarihi: 05.01.2011.
  • Harvey, D. (2004), “The Condition of Postmodernity: An Enquiry Into The Origins of Cultural Change”, First published 1990 by Blackwell Publishing Ltd. USA.
  • Harvey, D. (2005), “A Brief History of Neoliberalism”, Oxford, Oxford University Press.
  • Hasio, C. (2002), “Analysis of Panel Data”, New York: Cambridge University Press. Horne 1985.
  • Henwood, D. (1997), “Wall Street”, New York: Verso.
  • Henwood, D. (2003), “After the New Economy”, New York: New Press.
  • Heywood, A. (2007), “Politics, New York”, Palgrave Macmillan Press. ĐMKB, Mali Tablolar (2009 ve öncesi), http://www.imkb.gov.tr/FinancialTables/companiesfinancialstatements.aspx?sflang=tr Erişim Tarihi 14.04.2011. KAP (Kamuyu Aydınlatma Platformu) http://www.kap.gov.tr/yay/ek/index.aspx, Erişim Tarihi 15.04.2011.
  • Kotz, D. M. (2008), “Neoliberalism and Financialization” Political Economy Research Institute, University of Massachusetts Amherst, March 29, U.S.A. Krippner, G. (2005), “The Financialization of the American Economy” SocioEconomic Review, 3(2), 173–208.
  • Landreth, H. ve D.C. Colander (2003), “History of Economic Thought”, Fourth Edition, Houghton Mifflin Company.
  • Lapavitsas, C. (2007), “Neoliberal Dönemde Anayolcu Đktisat Kuramı, Neoliberalizm”, (Haz. A.S. Filho-D.Johnson), Đstanbul, Yordam Kitap.
  • Lapavitsas, C. (2009), “Financialisation Embroils Developing Countries”, Discussion Paper no: 14, August 2009 www.soas.ac.uk/rmf/papers/file53083.pdf Erişim tarihi 04.05.2010.
  • Lapavitsas, C. (2009), “Financialisation, or Search for Profits in the Sphere of Circulation”, Discussion Paper no:10, 11 May 2009 www.soas.ac.uk/rmf/papers/file51263.pdf Erişim tarihi 04.05.2010.
  • Lapavitsas, C. (2009), “Financialised Capitalism: Crises and Financial Expropriation”, Discussion Paper no:1, Department of Economics, School of Oriental and African Studies, 15 February 2009 www.soas.ac.uk/rmf/papers/file47508.pdf Erişim tarihi 04.05.2010.
  • Lind, J. (2006), “The Ghent System in the Nordic Countries- Still a Vehicle for Trade Unions to Recruit Members?”, Industrial Relations in Europe Conference (IREC). The Future of Social Models. (Ed. M. Stanojević ve J.N. Bergoĉ). Conference Proceedings, University of Ljubljana.
  • Lipietz, A. (1992), Towards a New Economic Order: Post-Fordism, Ecology and Democracy” (Çev. M. Slater), Oxford Unıversity Press, New York.
  • O’Connell, A. (2005), “The Argentine Financial Crisis in” G. Epstein (ed.), Financialization and the World Economy, Cheltenham, UK and Northampton, MA, USA:Edward Elgar, pp. 289–313.
  • Onaran, Ö. Stockhammer, E. Graftl, L. (2010), “Financialization, income distribution and aggregate demand in the USA”, Middlesex University Busness School, Department of Economics and Statistics, Discussion Paper no. 136, March, London, UK.
  • Orhangazi, Ö. (2008), “Financialisation and Capital Accumulation in the NonFinancial Corporate Sector, A Theoretical and Empirical Investigation on the US Economy: 1973-2003”, Cambridge Journal of Economics, Advance Access Published on April 9, 2008, 32: 3
  • Orhangazi, Ö. (2008), “Financialization and the US Economy”, Published by Edward Elgar Publishing Limited, UK.
  • Painceira, P. J. (2009), “Developing Countries in the Era of Financialisation: From Deficit Accumulation to Reserve Accumulation”, Discussion Paper no 4, Department of Economics, School of Oriental and African Studies, 15 February 2009 www.soas.ac.uk/rmf/papers/file47511.pdf Erişim tarihi 4 Mayıs 2010.
  • Palley, T. I. (2007), “Financialization: What it is and Why it Matters”, Political Economy Research Institute, Working Paper Series, Number 153. www.peri.umass.edu
  • Paulre, B. (2010), “Crisis In The Global Economy, Financial Markets, Social
  • Struggles, and New Political Scenarios”, USA Sennett, R. (1998), “Corrasion of Character: The Personel Consequencences of Work In the New Capitalism”, W. W. Norton and Co, New York.
  • Skott, P. and S. Ryoo (2008), “Macroeconomic Implications of Financialization”, Working Paper, Department of Economics, University of Massachusetts, Amherst, MA.
  • Stockhammer, E. (2004), “Financialization and the Slowdown Of Accumulation”, Cambridge Journal Of Economics vol. 28 (5), pp. 719-741.
  • Stockhammer, E. (2007), “Some Stylized Facts on the Finance-Dominated Accumulation”, unpublished manuscript, Dept. of Economics, VWI, Wirtschaftuniversitat, Wien, Austria, July 16.
  • Verbeek, A. (2004), A Guide to Modern Econometrics”, West Sussex: John Wiley & Sons.
  • Wade, R. (2007), “A New Global Financial Architecture?”, New Left Review, N. 46, ss. 113–129.
  • Wade, H. R. (2005), “The March of Neoliberalism and What to do About It,” draft paper for plenary talk at conference Beyond ‘Deregulation’: Finance in the 21st Century, University of Sussex, 26-28 May 2005.
  • Wooldridge, J. (2001), “Applications of Generalized Method of Moments Estimation” Journal of Economic Perspectives, 15, 4 Erişim: 14.07.2011 http://www.ejep.org/archive/1504/15040087.pdf.
There are 62 citations in total.

Details

Primary Language Turkish
Journal Section Makaleler
Authors

İşıl Tellalbaşı This is me

Publication Date December 2, 2014
Published in Issue Year 2012 Issue: 16

Cite

APA Tellalbaşı, İ. (2014). FİNANSALLAŞMA SORUNSALI VE İMKB ÖRNEĞİ. Istanbul University Econometrics and Statistics E-Journal(16), 12-43.
AMA Tellalbaşı İ. FİNANSALLAŞMA SORUNSALI VE İMKB ÖRNEĞİ. Istanbul University Econometrics and Statistics e-Journal. December 2014;(16):12-43.
Chicago Tellalbaşı, İşıl. “FİNANSALLAŞMA SORUNSALI VE İMKB ÖRNEĞİ”. Istanbul University Econometrics and Statistics E-Journal, no. 16 (December 2014): 12-43.
EndNote Tellalbaşı İ (December 1, 2014) FİNANSALLAŞMA SORUNSALI VE İMKB ÖRNEĞİ. Istanbul University Econometrics and Statistics e-Journal 16 12–43.
IEEE İ. Tellalbaşı, “FİNANSALLAŞMA SORUNSALI VE İMKB ÖRNEĞİ”, Istanbul University Econometrics and Statistics e-Journal, no. 16, pp. 12–43, December 2014.
ISNAD Tellalbaşı, İşıl. “FİNANSALLAŞMA SORUNSALI VE İMKB ÖRNEĞİ”. Istanbul University Econometrics and Statistics e-Journal 16 (December 2014), 12-43.
JAMA Tellalbaşı İ. FİNANSALLAŞMA SORUNSALI VE İMKB ÖRNEĞİ. Istanbul University Econometrics and Statistics e-Journal. 2014;:12–43.
MLA Tellalbaşı, İşıl. “FİNANSALLAŞMA SORUNSALI VE İMKB ÖRNEĞİ”. Istanbul University Econometrics and Statistics E-Journal, no. 16, 2014, pp. 12-43.
Vancouver Tellalbaşı İ. FİNANSALLAŞMA SORUNSALI VE İMKB ÖRNEĞİ. Istanbul University Econometrics and Statistics e-Journal. 2014(16):12-43.