Araştırma Makalesi
BibTex RIS Kaynak Göster

N11 Ülkelerinde Finansal Derinleşme Yoksulluk ve Ekonomik Büyüme İlişkisi: Finansal Liberalleşme Hipotezi

Yıl 2022, Cilt: 7 Sayı: 2, 155 - 170, 30.12.2022

Öz

Bu çalışmada 2000’den 2020’ye kadar yirmi yıllık bir süre boyunca N11 ülkelerinde dış açıklık, dış borç ve enflasyonun yoksulluk üzerindeki etkilerinin incelenmesi ve sonuçlarının ortaya konulması amaçlanmıştır. Değişkenlerine ait verilerin tamamı Dünya Bankasının veri tabanından (World Development Indicators) yıllık olarak alınmıştır. Durbin-Hausman eşbütünleşme testi ve Emirmahmutoğlu ve Köse (2011) nedensellik testi kullanılmıştır. Analiz sonuçları, dışa açıklık, dış borç, enflasyonun ile yoksulluk arasındaki eşbütünleşme ilişkisinin incelendiği Durbin-Hausman eşbütünleşme testi, değişkenlerin uzun dönemde eşbütünleşik olmadığını göstermiştir. Değişkenler arasındaki nedensellik ilişkisi Emirmahmutoğlu ve Köse (2011) nedensellik testi kullanılarak analiz edilmiştir. Nedensellik testinde, N11 ülkelerinde dışa açıklık oranından yoksulluğa doğru “Türkiye ve Endonezya” da, yoksulluk oranından dışa açıklığa doğru “Türkiye, Endonezya, Mısır ve Bangladeş’te”, Enflasyon oranından yoksulluk oranına doğru “Filipinler ve Vietnam’da” anlamlı olduğu; yoksulluktan enflasyon oranına doğru nedensellik ilişkisinin tüm ülkeler için anlamsız olduğu tespit edilmiştir. Dış borçlardan yoksulluk oranına doğru “Filipinler ve Endonezya’da” ve yoksulluktan dış borç oranına doğru sadece Nijerya’da nedensellik ilişkisinin olduğu bulgular arasındadır. Bu bilgiler ışığında artan uluslararası ticaret ile yoksulluk düzeyi arasında karşılıklı bir ilişki olduğu, enflasyon oranının ve dış borçların artmasının yoksulluğu etkilediği ancak yoksulluk oranının dış borçlar ve enflasyon üzerinde herhangi bir etkisinin olmadığı görülmektedir.

Kaynakça

  • Abel, A. (1983). Optimal investment under uncertainty. American Economic Review, 73(1), 228- 233. https://www.jstor.org/stable/j.ctv9hj7wb.11
  • Adams, R. (2003). Economic growth, inequality and poverty: Findings from a New Data Set. World Bank.
  • Agrawal, P. (2008). Economic growth and poverty reduction: Evidence from Kazakhstan. Asian Development Review, 24(2), 90-115.
  • Aizenman, J., & Marion, N. (1995). Volatility, investment and disappointment aversion. Cambridge: NBER.
  • Aktan, Ç., & Vural, İ. (2002). Gelir dağılımında adalet(siz)lik ve gelir eşit(siz)liği: terminoloji, temel kavramlar ve ölçüm yöntemleri, Yoksullukla Mücadele Stratejileri . Ankara: Hak-İş Konfederasyonu Yayınları.
  • Albanesi, S. (2007). Inflation and inequality. Journal of Monetary Economics, 54(4), 1088-1114. https://doi.org/10.1016/j.jmoneco.2006.02.009
  • Alfaro, L. (2005). Inflation, openness, and exchange rate regimes: The quest for short-term commitment. Journal of Development Economics, 77(1), 229-249. https://doi.org/10.1016/j.jdeveco.2004.02.006
  • Altıntepe, N. (2018). Dış ticaretin istihdam üzerine etkilerinin analizi: Karabük İli Örneği (2006:1-2017:12). Yönetim ve Ekonomi, 25(3), 896-910.
  • Amoateng, K., & Amoaku, A. (1996). Economic growth, export and external debt causality: The case of African countries. Applied Economics, 28(1), 21-27.
  • Asongu, S. (2013). Globalization and Africa: Implications for human development. International Journal of Development Issues, 12(3), 213-238. https://doi.org/10.1108/IJDI-10-2012-0064
  • Atique, R., & Malik, K. (2012.). Impact of domestic and external debt on the economic growth of Pakistan. World Applied Sciences Journal, 20(1), 120-129. https://doi.org/10.5829/idosi.wasj.2012.20.01.1621
  • Awan, A., Asghar, N., & Rehman, H. (2011). The impact of exchange rate, fiscal deficit and terms of trade on external debt of Pakıstan a cointegration and causality analysis. Australian Journal of Business and Management Research, 1(3), 10-24. http://www.ajbmr.com/articlepdf/ajbmrv01n0302.pdf
  • Balyemez, B. (2008). İhracat teşviklerinin makro piyasalara teorik etkileri. PARADOKS, Ekonomi, Sosyoloji ve Politika Dergisi, 4(1), 1-5.
  • Barro, R. (2000). Inequality and growth in a panel of countries. Journal of Economic Growth, 5(1), 5-32.
  • Belke, A., & Gros, D. (2001). Real impacts of intra-european exchange rate variability: A case for EMU? Open Economies Review, 12, 231-264.
  • Bernanke, B. (1983). Irreversibility, uncertainty and cyclical investment. Review of Economic Studies, 98(1), 86-106. https://doi.org/10.2307/1885568
  • Beyaert, A., & Camacho , M. (2008). TAR panel unit root tests and real convergence? An application to the EU enlargement process. Review of Development Economics, 12(3), 668-681. https://doi.org/10.1111/j.1467-9361.2008.00479.x
  • Bhagwati, J., & Srinivasan, T. (2002). Trade and poverty in the poor countries. The American Economic Review, 92(2), 180-183. https://doi.org/10.1257/000282802320189212
  • Braumann, B. (2004). High inflation and real wages. IMF Staff Papers, 51(1), 123-147.
  • Breitung, J., & Candelon, B. (2005). Purchasing power parity during currency crises: a panel unit root test under structural breaks. Review of World Economics, 141, 124–140.
  • Breuer, J., McNown, R., & Wallace, M. (2002). Series-specific unit root tests with panel data. Oxford Bulletın of Economıcs and Statıstıcs, 64(5), 0305-9049.
  • Bulíř, A. (2001). Income inequality: does inflation matter? IMF Staff papers, 48 (1), 139- 159.
  • Bullow, J., & Kenneth, R. (1990). Cleaning up third world debt without getting to the cleaners. J. Econ. Perspect, 4(1), 31-42.
  • Byrne, J., & Davis, E. (2005). The impact of short and long-run exchange rate uncertainty on investment: A panel study of industrial countries. Oxford Bulletin of Economics and Statistics, 67(3), 307-329.
  • Campa, J., & Goldberg, L. (1995). Investment in manufacturing, exchange rates and external exposure. Journal of International Economic, 38(3-4), 297-320. https://doi.org/10.1016/0022-1996(94)01348-V
  • Cardoso, E. (1992). Inflation and poverty. NBER.
  • Carruth, A., Dickersen, A., & Henley, A. (2000). What do we know about investment under uncertainty? Journal of Economic Surveys, 14(2), 120-153.
  • Çelik, H (2022). Ticari Serbestleşme ve Finansal Gelişmişlik Yoksulluğu Azaltıyor mu? Yeni Sanayileşen Ülkelerden Kanıtlar. Gaziantep University Journal of Social Sciences, 21(2) ,768-783. https://doi.org/10.21547/jss.1003118
  • Chan, T. (2006). Economic and non-economic determinants of poverty in developing countries: competing theories and empirical evidence., Canadian. Journal of Development Studies, 27(3), 267-285.
  • Chauhary, T., & Chaudhary , A. (2008). The effects of rising food and fuel costs on poverty in Pakistan. The Lahore Journal of Economics, 13, 117-138.
  • Chowdhury, K. (1994). A structural analysis of external debt and economic growth: Some evidence from selected countries in Asia and the pacific. Applied Econmics, 26(12), 1121-1131.
  • Cunningham, R. (1993). The effects of debt burden on economic growth in heavily indebted nations. Journal of economic development, 18(1), 115-126. https://doi.org/10.1080/00036849400000110
  • Davies, A., & Quinlivan , G. (2006). A panel data analysis of the impact of trade on human development. The Journal of Socio-Economics, 35, 868–876. https://doi.org/10.1016/j.socec.2005.11.048
  • Demirbaş, M., Türkay, H., & Türkoğlu, M. (2009). Petrol fiyatlarındaki gelişmelerin Türkiye'nin cari açığı üzerine etkisinin analizi. Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 14(3), 289-299.
  • Dijkstra, G., & Hermes, N. (2001). The uncertainty of debt service payment and economic growth of highly indebted poor countries: Is there a case for debt relief?. Helsinki: Wider.
  • Dixit, A., & Pindyck, R. (1994). Investment under uncertainty. Princeton: Princeton University Press.
  • Doğan, E., & Bayraç, H. (2014). Türkiye’de cari açık sorunu üzerine mikro temelli bir yaklaşım. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, 15(2), 97-124.
  • Doğan, İ., & Gürbüz, S. (2017). Enerji fiyatlarının dış ticaret açığı üzerindeki rolü. Ömer Halis Demir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 2(10), 81-90.
  • Dollar, D. (1992). Outward-oriented developing economies really do growth more rapidly: Evidence from 95 LDCs 1976-1985. Economic Development and Cultural Change, 40(3), 523-544.
  • Dollar, D., & Kraay, A. (2002). Growth is good for the poor. Journal of Economic Growth, 7, 195-225.
  • Easterly, W., & Fischer, S. (2001). (2001). Inflation and the poor. Journal of Money, Credit and Banking, 33(2), 160-178. https://doi.org/10.2307/2673879
  • Easterly, W., & Fischer, S. (2001). Inflation and the poor. Journal of Money, Credit and Banking, 33(2), 160-178.
  • Eichengreen, B., & Portes, R. (1995). Debt and default in the 1930’s: Causes and Consequences. National Bureau of Economic Research.
  • Epaulard, A. (3003). Macroeconomic performance and poverty reduction. IMF.
  • Erdoğan, S.,& Bozkurt, H. (2009). Türkiye’de cari açığın belirleyicileri: MGARCH modelleriyle bir inceleme. Maliye Finans Yazıları, 1(84), 135-172.
  • Eroğlu, N., Altaş, D., Ün, T.,& Ulu, M. (2017). OECD ülkelerinde sosyal yardım harcamalarının gelir dağılımına etkisi: Panel veri analizi. Uluslararası Ekonomik Araştırmalar Dergisi, 3(3), 336-354.
  • Erosa, A., & Ventura, G. (2002). On inflation as a regressive consumption tax. Journal of Monetary Economics Volume, 49(4), 761-795. https://doi.org/10.1016/S0304-3932(02)00115-0
  • Eusufzai, Z. (1996). Openness, economic growth and development: some further results. Economic Development and Cultural Change, 44(2), 333-338.
  • Evcim, N., Güneş, S., & Karaalp Orhan, H. (2019). Yoksulluk, eşitsizlik ve büyüme ilişkisi: Türkiye düzey-1 örneği. Yönetim ve Ekonomi Araştırma Dergisi, 17(4), 145-164.
  • Farzanegan, M.,& Markwardt, G. (2009). The effects of oil price shocks on the Iranian economy. Energy Economics, 31(1), 134-151. https://doi.org/10.1016/j.eneco.2008.09.003
  • Fosu, A. (1996). The impact of external debt on economic growth in sub saharan African. Journal of economic development, 21(1), 93-118.
  • Fosu, A. (1999). The external debt burden and economic growth in the 1980s: Evidence from sub Saharan Africa. Canadian Journal of Development Studies, 20(2), 307-318. https://doi.org/10.1080/02255189.1999.9669833
  • Fosu, A. (2011). Growth, Inequality, and Poverty Reduction in Developing Countries. WIDER Working Paper, Working Paper No. 2011/01, 1-52.
  • Frankel, J., & Romer, D. (1996). Trade and growth: An empirical investigation. NBER.
  • Göçer, İ., Mercan, M., & Hotunluoğlu, H. (2012). Seçilmiş OECD ülkelerinde cari işlemler açığının sürdürülebilirliği: Yatay kesit bağımlılığı altında çoklu yapısal kırılmalı panel veri analizi. Maliye Dergisi, 163, 449-470.
  • Goldman Sachs. (2007). The Goldman Sachs 2007 Annual Report.https://www.goldmansachs.com/investor-relations/financials/archived/annual-reports/2007-annual-report.html.
  • Goudie, A., & Ladd, P. (1999). Economic growth, poverty and inequality. Journal of International Development, 11, 177-195.
  • Gruben, W. C., & Darryl, M. (2004). The openness-inflation puzzle revisited. Applied Economic Letters, 11(8), 465-468. https://doi.org/10.1080/1350485042000244477
  • Güneş, Ş., & Konur, F. (2013). Türkiye ekonomisinde dışa açıklık ve enflasyon ilişkisi üzerine ampirik bir analiz. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, 8(2), 7-20.
  • Gupta, S., Davoodi, H., & Terme., R. (2002). Does corruption affect income inequality and poverty. Economics of Governance, 3, 23–45.
  • Hadri, K. (2000). Testing for stationarity in heterogeneous panel data. Econometrics Journal, 3, 148–161.
  • Hadri, K., & Kurozumi, E. (2012). A simple panel stationarity test in the presence of serial correlation and a common factor. Economics Letters., 115(1), 31-34. https://doi.org/10.1016/j.econlet.2011.11.036
  • Hamid, Z.,& Amin, R. (2013). Trade and human development in OIC countries: A panel data analysis. Islamic Economic Studies, 21(2), 55-70. https://doi.org/10.12816/0001558
  • Hasan, P. (1999). Pakistan’s debt problem: Its changing nature and growing gravity. The Pakistan Development Review, 38(4), 435-470.
  • Hassan, M., Wajid, A., & Kalim, R. (2017). Factors affecting trade deficit in Pakistan, India and Bangladesh. Economia Politica, 34(2), 283-304.
  • Im, K., Pesaran, H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115, 53–74. https://doi.org/10.1016/S0304-4076(03)00092-7
  • İnce, M. (2001). Devlet borçları ve Türkiye. Ankara: Gazi Kitabevi.
  • İspiroğlu, F., & Taş, S., (2022). Yükselen Piyasa Ekonomilerinde Ticari Dışa Açıklığın Ekonomik Büyüme Üzerindeki Etkisi: Ekonometrik Bir Uygulama. Uluslararası Yönetim İktisat ve İşletme Dergisi, 18( 1), 2022. http://dx.doi.org/10.17130/ijmeb.846218
  • Kabadayı, B. (2013). Human development and trade openness: A case study on developing countries. Advances in Management & Applied Economics, 3(3), 193-199.
  • Kim, C., & Beladi, H. (2005). Is free trade inflationary? Economics Letters, 89(1), 343‐349. https://doi.org/10.1016/j.econlet.2005.06.016
  • Klasen, S. (2008). Economic growth and poverty reduction: Measurement issues using income and non-income indicators. World Development, 36(3), 420-445. https://doi.org/10.1016/j.worlddev.2007.03.008
  • Koç, H., & Değer, M. K. (2010). Döviz kuru belirsizliği ve yurtiçi yatırımlar: Türkiye ekonomisi üzerine nedensellik testleri (1988-2007). Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 24(3), 80-93.
  • Kong. Q., Peng. D, Ni. Y, Jiang, X., & Wang. Z., (2021). Trade openness and economic growth quality of China: Empirical analysis using ARDL model. Finance Research Letters, 38. 1-9.
  • Korap, L. (2019). Finansal Gelişme ve Ekonomik Büyüme İlişkisi: Türkiye Ekonomisi için Bir Uygulama. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 54, 75-88. https://doi.org/10.18070/erciyesiibd.523605
  • Kraay, A. (2006). When is growth pro-poor? Evidence from a panel of countries. Journal of Development Economics, 80(1), 198-227. https://doi.org/10.1016/j.jdeveco.2005.02.004
  • Küçükaksoy, İ., & Akalın, G. (2017). Fisher hipotezi’nin panel veri analizi ile test edilmesi: OECD ülkeleri uygulaması. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 35(1), 19-40.
  • Kydland, F.,& Prescott, E. (1977). Rules rather than discretion: The inconsistency of optimal plans. Journal of Political Economy, 85(3), 473-492.
  • Lane, P. (1997). Inflation in open economies. Journal of International Economies, 42(3-4), 327-347. https://doi.org/10.1016/S0022-1996(96)01442-0
  • Lee, J., & Shin, K. (2000). The role of variable input in the relationship between investment and uncertainty. American Economic Review, 90(3), 667-680.
  • Levin, A., Lin, C., Chu, F., & Chu, C. (2002). Unit root tests in panel data: asymptotic and finite sample properties. Journal of Econometrics, 108, 1–24. https://doi.org/10.1016/S0304-4076(01)00098-7
  • Lucas, R. E. (1967). Adjustment costs and the theory of supply. Journal of Political Economy, 75(4), 321-334.
  • Maddala, G.,& Wu, S. (1999). A comparative study of unit roots with panel data and a new simple test. Oxford Bulletin of Economics and Statistics, 61, 631–651.
  • Menna, L., & Tirelli, P. (2017). Optimal inflation to reduce inequality. Review of Economic Dynamics, 24, 79-94. https://doi.org/10.1016/j.red.2017.01.004
  • Mercan, M., & Göçer, İ. (2014). Ticari dışa açıklığın ekonomik etkileri: Orta Asya ülkeleri için ampirik bir analiz. Uluslararası Yönetim İktisat ve İşletme Dergisi, 10(22), 27-44.
  • Muhammad, N. A., R. M.Islam., & Marashdeh, H. A. (2016). Financial development and economic growth: an empirical evidence from the GCC countries using static and dynamic panel data. Journal Econ. Finan., 40,773–791. https://doi.org/10.1007/s12197-015-9331-9.
  • Mukhtar, T. (2010). Does trade openness reduce inflation? Empirical evidence from Pakistan. The Lahore Journal of Economics, 15(2), 35‐50.
  • Murthy, D.S., Patra, P., & Samantaraya, A. (2014). Trade openness, financial development index and economic growth: evidence from India (1971–2012). Journal Finance Econ Policy, 6(4), 362–375
  • Nourzad, F., & Powell, J. (2003). Openness, growth and development: Evidence from a panel of developing countries. Scientific Journal of Administrative Development, 1, 72-94.
  • Nursini, N. (2017). Effect of fiscal policy and trade openness on economic growth in Indonesia: 1990-2015. International Journal of Economics and Financial Issues, 7(1), 358-364.
  • Olomola, P., & Adejumo, A. (2006). Oil price shock and macroeconomic activities in Nigeria. International Research Journal of Finance and Economics(3), 28–34.
  • Omoke, P.C., Nwachukwu, T., Ibrahim. A., & Nwachukwu, O.D. (2022). Asymmetric impact of fnancial development, trade openness, and environmental degradation on economic growth in Venezuela. Environmental Science and Pollution Research, 29, 27411-27420. https://doi.org/10.1007/s11356-021-18421-2
  • Onakoya, A., Johnson, B., & Ogundajo, G. (2019). Poverty and trade liberalization: empirical evidence from 21 Africa countries. Economic Research-Ekonomska Istrazivanja, 32(1), 635-656. https://doi.org/10.1080/1331677X.2018.1561320
  • Özcan, G., & Özmen İ., (2019). E7 Ülkelerinde Finansal Derinleşme ve Yoksulluk İlişkisi: Bootstrap Panel Nedensellik Analizi. Gaziantep University Journal of Social Sciences, 18 (1), 508-521. https://doi.org/10.21547/jss.457377
  • Özçicek, Ö. (2007). Nominal kur oynaklığı ve Türkiye’de sermaye yatırımı üzerindeki etkisi. Anadolu Üniversitesi Sosyal Bilimler Dergisi, 7(2), 73-84.
  • Özdemir, A., & Ordu, C. (2013). Döviz kuru ve dış ticaret ilişkisi: Türkiye örneği. Finans Politik ve Ekonomik Yorumlar, 50(582), 29-42.
  • Öztürk, N. S., Barışık, S., & Darıcı, H. K. (2010). Gelişmekte olan piyasalarda finansal derinleşme ve büyüme ilişkisi: panel veri analizi. ZKÜ Sosyal Bilimler Dergisi, 6(12), 95–119.
  • Peçe, M., Ceyhan, M., & Akpolat, A. (2016). Türkiye’de gelir dağılımının ekonomik büyümeye etkisi üzerine ekonometrik bir analiz. International Journal of Cultural and Social Studies, 2(1), 135-148.
  • Pehlivan, O. (2004). Kamu maliyesi. Trabzon: Derya Kitabevi.
  • Pesaran, M. (2006). Estımatıon and inference in large heterogeneous panels wıth a multıfactor error structure. Econometrica, 74(4), 67–1012. https://doi.org/10.1111/j.1468-0262.2006.00692.x
  • Pesaran, M. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of Applied Econometrics, 22(2), 265-312. https://doi.org/10.1002/jae.951
  • Polat, M. (2018). Doğrudan yabancı sermaye yatırımlarının borsa ve reel sektörde firmalara etkisi: Gelişmekte olan ülkeler üzerine eşbütünleşme ve nedensellik analizi. Bingöl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 8(16), 510-526.
  • Ravallion, M. (1998). Poverty lines in theory and practice. Washington,: World Bank.
  • Reuveny, R., & Li, Q. (2003). Economic openness, democracy, and income inequality: An empirical analysis. Comparative Political Studies, 36(5), 575-601.
  • Rodriguez, F., & Rodrik, D. (1999). Trade policy and economic growth: A skeptic’s guide to the cross-national evidence. NBER Working Papers No: 7081 .
  • Rogoff, K. (1990). Symposium on new institutions for developing country debt. Journal of Economic Perspectives, 4(1), 3-6.
  • Rogoff, K. (2003). Globalisation and global disinflation. Economic Review, 4, 45-78.
  • Romer, C., & Romer, D. (1998). Monetary policy and the well-being of the poor. Cambridge: NBER.
  • Romer, D. (1993). Openness and inflation: Theory and evidence. Quarterly Journal of Economics, 108(4), 869-903.
  • Sachs, J. D., & Warner, A. (1995). Economic reform and the process of global integration . Brookings Papers on Economic Activity, 1, 1-118.
  • Sachsida, A., Carneiro, F., & Loure, P. (2003). Does greater trade openness reduce inflation? further evidence using panel data techniques. Economics Letters, 81(3), 315-319. https://doi.org/10.1016/S0165-1765(03)00211-8
  • Saçık, S. (2009). Büyümenin bir kaynağı olarak ticari dışa açıklık. Sosyal Ekonomik Araştırmalar Dergisi, 9(17), 525 - 548.
  • Safdar, N., Liaquat, M., & Bibi, S. (2021). Role of external debt and trade deficit in economic performance of Pakistan. Annals of Social Sciences and Perspective, 2(1), 1-13.
  • Şahbaz, A., Buluş, A., & Kaleci, F. (2016). Dışa açıklık, doğrudan yabancı yatırımlar ve yoksulluk ilişkisi: Türkiye Örneği. Gaziantep University Journal of Social Sciences, 15 (4), 1106-1117. https://doi.org/10.21547/jss.265500
  • Samimi, A., Ghaderi, S., & Sanginabadi, B. (2011). Openness and inflation in Iran. International Journal of Economics and Management Engeneering, 1(1), 42‐49.
  • Savvides, A. (1992). Investment slowdown in developing countries during the 1980s: Debt overhang or foreign capital inflows. Kyklos, 45(3), 363-378. https://doi.org/10.1111/j.1467-6435.1992.tb02121.x
  • Şeker, M. (2006). Dış borçlanama teorik bir bakış ve dış borçların ekonomik etkileri. Sosyoekonomi, 1, 74-92.
  • Sekmen, F. (2007). Açıklık ve para politikasının etkinliği: Türkiye uygulaması. Muhasebe ve Finasman Dergisi, (33), 171‐177.
  • Serven, L. (2003). Real-exchange rate uncertainty and private ınvestment in LDCs. Review of Economics and Statistics, 85(1), 212-218.
  • Spilimbergo, A., Juan, L., & Szekely, M. (1999). Income distribution, factor endowments, and trade openness. Journal of Development Economics, 59(1), 77-101. https://doi.org/10.1016/S0304-3878(99)00006-1
  • Squire, L. (1993). Fighting poverty. American Economic Review, 83(2), 377-382.
  • Talukdar, S. (2012). The effect of inflation on poverty in developing countries: A panel data analysis. Texas Tech University.
  • Taşç, M., Esener, S., & Darıcı, B. (2009). The effects of openness on inflation: Panel data estimates from selected developing countries. Investment Management and Financial Innovations, 6(4), 28‐34.
  • Tatoğlu, F. (2012). Panel veri ekonometrisi-stata uygulamalı. İstanbul: Beta Basım Yayım.
  • Tatoğlu, F. (2013). İleri Panel veri analizi-stata uygulamalı (2. Baskı b.). İstanbul: Beta Basım Yayım.
  • Tatoğlu, F. (2020). Panel zaman serileri analizi satat uygulamalı. İstanbul: Beta.
  • Taylor, M., & Sarno, L. (1998). The behavior of real exchange rates during the post Bretton Woods period. Journal of International Economics, 46, 281–312. https://doi.org/10.1016/S0022-1996(97)00054-8
  • Tilak, J. (1992). From economic growth to human development: A Commentary on recent indexes of development. International Journal of Social Economics, 19, 31-42. https://doi.org/10.1108/EUM0000000000480
  • Tiruneh, M. (2004). An empirical investigation into the determinants of external indebtedness. PRAGUE Economic Papers, 3, 261-277.
  • Todaro, M. (1994). Economic development. Longman: New York. United Nations Development Program. New York: Oxford University Press.
  • Todaro, M.P., & Smith, S.C. (2012). Economic Development. Pearson Addison Wesley, Boston.
  • Umaru, A., Hamidu, A., & Musa, S. (2013). External debt and domestic debt impact on the growth of the Nigerian economy. MPRA.
  • UNDP. (2016). Human development report 2016. Retrieved from, http://hdr.undp.org/sites/default/files/2016_ human_development_report.pdf
  • UNDP. (2020). Human develepments report. hdr.undp.org/en/indicators/137506#
  • Westerlund, J. (2008). Panel coıntegratıon tests of the fısher effect. Journal of Applıed Econometrıcs, 23, 193–233. https://doi.org/10.1002/jae.967
  • Yalçınkaya, Ö., & Kaya, V. (2017). Eğitimin ekonomik büyüme üzerindeki etkileri: PISA Katılımcıları Üzerinde Bir Uygulama (1990-2014). Sosyoekonomi, 25(33), 11-35. https://doi.org/10.17233/sosyoekonomi.299349
  • Yanıkkaya, H. (2003). Trade Openness and economic growth: A cross-country empirical investigation. Journal of Development Economics, 72, 57-89. https://doi.org/10.1016/S0304-3878(03)00068-3
  • Yaşa, M. (1971). Devlet borçları (2. Baskı b.). İstanbul: Sermet Matbaası.
  • Yılmaz, A., & Karataş, T. (2009). Türkiye ekonomisinde 2001 krizi sonrası süreçte cari işlemler açığının nedenleri üzerine bir inceleme. Marmara Üniversitesi İ.İ.B.F. Dergisi,, 27(2), 69-96.
  • Yusuf, M., Malarvizhi, C., & Khin, A. (2013). Trade liberalization economic growth and poverty reduction in Nigeria. International Journal of Business and Management, 8(2), 42-48.
  • Zaman, K., Rashid, K., Khan, M., & Ahmad, M. (2011). Panel data analysis of growth, ınequality and poverty: Evidence from SAARC countries. Journal of Yaşar University, 21(6), 3523-3537.

Poverty in Triangle of Foreign Openness, Foreign Debt and Inflation N11 Countries: Panel Causality Analysis

Yıl 2022, Cilt: 7 Sayı: 2, 155 - 170, 30.12.2022

Öz

This study aims to analyze the effects of external openness, external debt, and inflation on poverty in N11 countries from 2000 to 2020. In this study, it is aimed to examine the effects of external openness, external debt and inflation on poverty in N11 countries over a twenty-year period from 2000 to 2020 and to reveal the results. All of the data for the variables were taken from the World Bank's database (World Development Indicators) annually. The Durbin-Hausman cointegration test, which examines the cointegration relationship between poverty and external openness, external debt, and inflation, showed that the variables did not cointegrate in the long run. In N11 countries, the causality relationships among the variables were analyzed using the Emirmahmutoğlu and Köse (2011) causality test: the causality relationships were significant in "From openness to poverty" for Turkey and Indonesia; "From poverty rates to openness" for Turkey, Indonesia, Egypt, and Bangladesh; “From inflation rates to poverty rates” for Philippines and Vietnam. The causality relationship in "From poverty to inflation rates" was insignificant for all countries. Also, it was among the findings that there was a "From external debt to poverty rates" causal relationship in the Philippines and Indonesia; and "From poverty to external debt ratios" only in Nigeria. In the light of this information, it is seen that there is a reciprocal relationship between increasing international trade and the level of poverty; the increase in inflation rates and foreign debt affects poverty, but poverty rates do not affect foreign debts and inflation.

Kaynakça

  • Abel, A. (1983). Optimal investment under uncertainty. American Economic Review, 73(1), 228- 233. https://www.jstor.org/stable/j.ctv9hj7wb.11
  • Adams, R. (2003). Economic growth, inequality and poverty: Findings from a New Data Set. World Bank.
  • Agrawal, P. (2008). Economic growth and poverty reduction: Evidence from Kazakhstan. Asian Development Review, 24(2), 90-115.
  • Aizenman, J., & Marion, N. (1995). Volatility, investment and disappointment aversion. Cambridge: NBER.
  • Aktan, Ç., & Vural, İ. (2002). Gelir dağılımında adalet(siz)lik ve gelir eşit(siz)liği: terminoloji, temel kavramlar ve ölçüm yöntemleri, Yoksullukla Mücadele Stratejileri . Ankara: Hak-İş Konfederasyonu Yayınları.
  • Albanesi, S. (2007). Inflation and inequality. Journal of Monetary Economics, 54(4), 1088-1114. https://doi.org/10.1016/j.jmoneco.2006.02.009
  • Alfaro, L. (2005). Inflation, openness, and exchange rate regimes: The quest for short-term commitment. Journal of Development Economics, 77(1), 229-249. https://doi.org/10.1016/j.jdeveco.2004.02.006
  • Altıntepe, N. (2018). Dış ticaretin istihdam üzerine etkilerinin analizi: Karabük İli Örneği (2006:1-2017:12). Yönetim ve Ekonomi, 25(3), 896-910.
  • Amoateng, K., & Amoaku, A. (1996). Economic growth, export and external debt causality: The case of African countries. Applied Economics, 28(1), 21-27.
  • Asongu, S. (2013). Globalization and Africa: Implications for human development. International Journal of Development Issues, 12(3), 213-238. https://doi.org/10.1108/IJDI-10-2012-0064
  • Atique, R., & Malik, K. (2012.). Impact of domestic and external debt on the economic growth of Pakistan. World Applied Sciences Journal, 20(1), 120-129. https://doi.org/10.5829/idosi.wasj.2012.20.01.1621
  • Awan, A., Asghar, N., & Rehman, H. (2011). The impact of exchange rate, fiscal deficit and terms of trade on external debt of Pakıstan a cointegration and causality analysis. Australian Journal of Business and Management Research, 1(3), 10-24. http://www.ajbmr.com/articlepdf/ajbmrv01n0302.pdf
  • Balyemez, B. (2008). İhracat teşviklerinin makro piyasalara teorik etkileri. PARADOKS, Ekonomi, Sosyoloji ve Politika Dergisi, 4(1), 1-5.
  • Barro, R. (2000). Inequality and growth in a panel of countries. Journal of Economic Growth, 5(1), 5-32.
  • Belke, A., & Gros, D. (2001). Real impacts of intra-european exchange rate variability: A case for EMU? Open Economies Review, 12, 231-264.
  • Bernanke, B. (1983). Irreversibility, uncertainty and cyclical investment. Review of Economic Studies, 98(1), 86-106. https://doi.org/10.2307/1885568
  • Beyaert, A., & Camacho , M. (2008). TAR panel unit root tests and real convergence? An application to the EU enlargement process. Review of Development Economics, 12(3), 668-681. https://doi.org/10.1111/j.1467-9361.2008.00479.x
  • Bhagwati, J., & Srinivasan, T. (2002). Trade and poverty in the poor countries. The American Economic Review, 92(2), 180-183. https://doi.org/10.1257/000282802320189212
  • Braumann, B. (2004). High inflation and real wages. IMF Staff Papers, 51(1), 123-147.
  • Breitung, J., & Candelon, B. (2005). Purchasing power parity during currency crises: a panel unit root test under structural breaks. Review of World Economics, 141, 124–140.
  • Breuer, J., McNown, R., & Wallace, M. (2002). Series-specific unit root tests with panel data. Oxford Bulletın of Economıcs and Statıstıcs, 64(5), 0305-9049.
  • Bulíř, A. (2001). Income inequality: does inflation matter? IMF Staff papers, 48 (1), 139- 159.
  • Bullow, J., & Kenneth, R. (1990). Cleaning up third world debt without getting to the cleaners. J. Econ. Perspect, 4(1), 31-42.
  • Byrne, J., & Davis, E. (2005). The impact of short and long-run exchange rate uncertainty on investment: A panel study of industrial countries. Oxford Bulletin of Economics and Statistics, 67(3), 307-329.
  • Campa, J., & Goldberg, L. (1995). Investment in manufacturing, exchange rates and external exposure. Journal of International Economic, 38(3-4), 297-320. https://doi.org/10.1016/0022-1996(94)01348-V
  • Cardoso, E. (1992). Inflation and poverty. NBER.
  • Carruth, A., Dickersen, A., & Henley, A. (2000). What do we know about investment under uncertainty? Journal of Economic Surveys, 14(2), 120-153.
  • Çelik, H (2022). Ticari Serbestleşme ve Finansal Gelişmişlik Yoksulluğu Azaltıyor mu? Yeni Sanayileşen Ülkelerden Kanıtlar. Gaziantep University Journal of Social Sciences, 21(2) ,768-783. https://doi.org/10.21547/jss.1003118
  • Chan, T. (2006). Economic and non-economic determinants of poverty in developing countries: competing theories and empirical evidence., Canadian. Journal of Development Studies, 27(3), 267-285.
  • Chauhary, T., & Chaudhary , A. (2008). The effects of rising food and fuel costs on poverty in Pakistan. The Lahore Journal of Economics, 13, 117-138.
  • Chowdhury, K. (1994). A structural analysis of external debt and economic growth: Some evidence from selected countries in Asia and the pacific. Applied Econmics, 26(12), 1121-1131.
  • Cunningham, R. (1993). The effects of debt burden on economic growth in heavily indebted nations. Journal of economic development, 18(1), 115-126. https://doi.org/10.1080/00036849400000110
  • Davies, A., & Quinlivan , G. (2006). A panel data analysis of the impact of trade on human development. The Journal of Socio-Economics, 35, 868–876. https://doi.org/10.1016/j.socec.2005.11.048
  • Demirbaş, M., Türkay, H., & Türkoğlu, M. (2009). Petrol fiyatlarındaki gelişmelerin Türkiye'nin cari açığı üzerine etkisinin analizi. Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 14(3), 289-299.
  • Dijkstra, G., & Hermes, N. (2001). The uncertainty of debt service payment and economic growth of highly indebted poor countries: Is there a case for debt relief?. Helsinki: Wider.
  • Dixit, A., & Pindyck, R. (1994). Investment under uncertainty. Princeton: Princeton University Press.
  • Doğan, E., & Bayraç, H. (2014). Türkiye’de cari açık sorunu üzerine mikro temelli bir yaklaşım. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, 15(2), 97-124.
  • Doğan, İ., & Gürbüz, S. (2017). Enerji fiyatlarının dış ticaret açığı üzerindeki rolü. Ömer Halis Demir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 2(10), 81-90.
  • Dollar, D. (1992). Outward-oriented developing economies really do growth more rapidly: Evidence from 95 LDCs 1976-1985. Economic Development and Cultural Change, 40(3), 523-544.
  • Dollar, D., & Kraay, A. (2002). Growth is good for the poor. Journal of Economic Growth, 7, 195-225.
  • Easterly, W., & Fischer, S. (2001). (2001). Inflation and the poor. Journal of Money, Credit and Banking, 33(2), 160-178. https://doi.org/10.2307/2673879
  • Easterly, W., & Fischer, S. (2001). Inflation and the poor. Journal of Money, Credit and Banking, 33(2), 160-178.
  • Eichengreen, B., & Portes, R. (1995). Debt and default in the 1930’s: Causes and Consequences. National Bureau of Economic Research.
  • Epaulard, A. (3003). Macroeconomic performance and poverty reduction. IMF.
  • Erdoğan, S.,& Bozkurt, H. (2009). Türkiye’de cari açığın belirleyicileri: MGARCH modelleriyle bir inceleme. Maliye Finans Yazıları, 1(84), 135-172.
  • Eroğlu, N., Altaş, D., Ün, T.,& Ulu, M. (2017). OECD ülkelerinde sosyal yardım harcamalarının gelir dağılımına etkisi: Panel veri analizi. Uluslararası Ekonomik Araştırmalar Dergisi, 3(3), 336-354.
  • Erosa, A., & Ventura, G. (2002). On inflation as a regressive consumption tax. Journal of Monetary Economics Volume, 49(4), 761-795. https://doi.org/10.1016/S0304-3932(02)00115-0
  • Eusufzai, Z. (1996). Openness, economic growth and development: some further results. Economic Development and Cultural Change, 44(2), 333-338.
  • Evcim, N., Güneş, S., & Karaalp Orhan, H. (2019). Yoksulluk, eşitsizlik ve büyüme ilişkisi: Türkiye düzey-1 örneği. Yönetim ve Ekonomi Araştırma Dergisi, 17(4), 145-164.
  • Farzanegan, M.,& Markwardt, G. (2009). The effects of oil price shocks on the Iranian economy. Energy Economics, 31(1), 134-151. https://doi.org/10.1016/j.eneco.2008.09.003
  • Fosu, A. (1996). The impact of external debt on economic growth in sub saharan African. Journal of economic development, 21(1), 93-118.
  • Fosu, A. (1999). The external debt burden and economic growth in the 1980s: Evidence from sub Saharan Africa. Canadian Journal of Development Studies, 20(2), 307-318. https://doi.org/10.1080/02255189.1999.9669833
  • Fosu, A. (2011). Growth, Inequality, and Poverty Reduction in Developing Countries. WIDER Working Paper, Working Paper No. 2011/01, 1-52.
  • Frankel, J., & Romer, D. (1996). Trade and growth: An empirical investigation. NBER.
  • Göçer, İ., Mercan, M., & Hotunluoğlu, H. (2012). Seçilmiş OECD ülkelerinde cari işlemler açığının sürdürülebilirliği: Yatay kesit bağımlılığı altında çoklu yapısal kırılmalı panel veri analizi. Maliye Dergisi, 163, 449-470.
  • Goldman Sachs. (2007). The Goldman Sachs 2007 Annual Report.https://www.goldmansachs.com/investor-relations/financials/archived/annual-reports/2007-annual-report.html.
  • Goudie, A., & Ladd, P. (1999). Economic growth, poverty and inequality. Journal of International Development, 11, 177-195.
  • Gruben, W. C., & Darryl, M. (2004). The openness-inflation puzzle revisited. Applied Economic Letters, 11(8), 465-468. https://doi.org/10.1080/1350485042000244477
  • Güneş, Ş., & Konur, F. (2013). Türkiye ekonomisinde dışa açıklık ve enflasyon ilişkisi üzerine ampirik bir analiz. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, 8(2), 7-20.
  • Gupta, S., Davoodi, H., & Terme., R. (2002). Does corruption affect income inequality and poverty. Economics of Governance, 3, 23–45.
  • Hadri, K. (2000). Testing for stationarity in heterogeneous panel data. Econometrics Journal, 3, 148–161.
  • Hadri, K., & Kurozumi, E. (2012). A simple panel stationarity test in the presence of serial correlation and a common factor. Economics Letters., 115(1), 31-34. https://doi.org/10.1016/j.econlet.2011.11.036
  • Hamid, Z.,& Amin, R. (2013). Trade and human development in OIC countries: A panel data analysis. Islamic Economic Studies, 21(2), 55-70. https://doi.org/10.12816/0001558
  • Hasan, P. (1999). Pakistan’s debt problem: Its changing nature and growing gravity. The Pakistan Development Review, 38(4), 435-470.
  • Hassan, M., Wajid, A., & Kalim, R. (2017). Factors affecting trade deficit in Pakistan, India and Bangladesh. Economia Politica, 34(2), 283-304.
  • Im, K., Pesaran, H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115, 53–74. https://doi.org/10.1016/S0304-4076(03)00092-7
  • İnce, M. (2001). Devlet borçları ve Türkiye. Ankara: Gazi Kitabevi.
  • İspiroğlu, F., & Taş, S., (2022). Yükselen Piyasa Ekonomilerinde Ticari Dışa Açıklığın Ekonomik Büyüme Üzerindeki Etkisi: Ekonometrik Bir Uygulama. Uluslararası Yönetim İktisat ve İşletme Dergisi, 18( 1), 2022. http://dx.doi.org/10.17130/ijmeb.846218
  • Kabadayı, B. (2013). Human development and trade openness: A case study on developing countries. Advances in Management & Applied Economics, 3(3), 193-199.
  • Kim, C., & Beladi, H. (2005). Is free trade inflationary? Economics Letters, 89(1), 343‐349. https://doi.org/10.1016/j.econlet.2005.06.016
  • Klasen, S. (2008). Economic growth and poverty reduction: Measurement issues using income and non-income indicators. World Development, 36(3), 420-445. https://doi.org/10.1016/j.worlddev.2007.03.008
  • Koç, H., & Değer, M. K. (2010). Döviz kuru belirsizliği ve yurtiçi yatırımlar: Türkiye ekonomisi üzerine nedensellik testleri (1988-2007). Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 24(3), 80-93.
  • Kong. Q., Peng. D, Ni. Y, Jiang, X., & Wang. Z., (2021). Trade openness and economic growth quality of China: Empirical analysis using ARDL model. Finance Research Letters, 38. 1-9.
  • Korap, L. (2019). Finansal Gelişme ve Ekonomik Büyüme İlişkisi: Türkiye Ekonomisi için Bir Uygulama. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 54, 75-88. https://doi.org/10.18070/erciyesiibd.523605
  • Kraay, A. (2006). When is growth pro-poor? Evidence from a panel of countries. Journal of Development Economics, 80(1), 198-227. https://doi.org/10.1016/j.jdeveco.2005.02.004
  • Küçükaksoy, İ., & Akalın, G. (2017). Fisher hipotezi’nin panel veri analizi ile test edilmesi: OECD ülkeleri uygulaması. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 35(1), 19-40.
  • Kydland, F.,& Prescott, E. (1977). Rules rather than discretion: The inconsistency of optimal plans. Journal of Political Economy, 85(3), 473-492.
  • Lane, P. (1997). Inflation in open economies. Journal of International Economies, 42(3-4), 327-347. https://doi.org/10.1016/S0022-1996(96)01442-0
  • Lee, J., & Shin, K. (2000). The role of variable input in the relationship between investment and uncertainty. American Economic Review, 90(3), 667-680.
  • Levin, A., Lin, C., Chu, F., & Chu, C. (2002). Unit root tests in panel data: asymptotic and finite sample properties. Journal of Econometrics, 108, 1–24. https://doi.org/10.1016/S0304-4076(01)00098-7
  • Lucas, R. E. (1967). Adjustment costs and the theory of supply. Journal of Political Economy, 75(4), 321-334.
  • Maddala, G.,& Wu, S. (1999). A comparative study of unit roots with panel data and a new simple test. Oxford Bulletin of Economics and Statistics, 61, 631–651.
  • Menna, L., & Tirelli, P. (2017). Optimal inflation to reduce inequality. Review of Economic Dynamics, 24, 79-94. https://doi.org/10.1016/j.red.2017.01.004
  • Mercan, M., & Göçer, İ. (2014). Ticari dışa açıklığın ekonomik etkileri: Orta Asya ülkeleri için ampirik bir analiz. Uluslararası Yönetim İktisat ve İşletme Dergisi, 10(22), 27-44.
  • Muhammad, N. A., R. M.Islam., & Marashdeh, H. A. (2016). Financial development and economic growth: an empirical evidence from the GCC countries using static and dynamic panel data. Journal Econ. Finan., 40,773–791. https://doi.org/10.1007/s12197-015-9331-9.
  • Mukhtar, T. (2010). Does trade openness reduce inflation? Empirical evidence from Pakistan. The Lahore Journal of Economics, 15(2), 35‐50.
  • Murthy, D.S., Patra, P., & Samantaraya, A. (2014). Trade openness, financial development index and economic growth: evidence from India (1971–2012). Journal Finance Econ Policy, 6(4), 362–375
  • Nourzad, F., & Powell, J. (2003). Openness, growth and development: Evidence from a panel of developing countries. Scientific Journal of Administrative Development, 1, 72-94.
  • Nursini, N. (2017). Effect of fiscal policy and trade openness on economic growth in Indonesia: 1990-2015. International Journal of Economics and Financial Issues, 7(1), 358-364.
  • Olomola, P., & Adejumo, A. (2006). Oil price shock and macroeconomic activities in Nigeria. International Research Journal of Finance and Economics(3), 28–34.
  • Omoke, P.C., Nwachukwu, T., Ibrahim. A., & Nwachukwu, O.D. (2022). Asymmetric impact of fnancial development, trade openness, and environmental degradation on economic growth in Venezuela. Environmental Science and Pollution Research, 29, 27411-27420. https://doi.org/10.1007/s11356-021-18421-2
  • Onakoya, A., Johnson, B., & Ogundajo, G. (2019). Poverty and trade liberalization: empirical evidence from 21 Africa countries. Economic Research-Ekonomska Istrazivanja, 32(1), 635-656. https://doi.org/10.1080/1331677X.2018.1561320
  • Özcan, G., & Özmen İ., (2019). E7 Ülkelerinde Finansal Derinleşme ve Yoksulluk İlişkisi: Bootstrap Panel Nedensellik Analizi. Gaziantep University Journal of Social Sciences, 18 (1), 508-521. https://doi.org/10.21547/jss.457377
  • Özçicek, Ö. (2007). Nominal kur oynaklığı ve Türkiye’de sermaye yatırımı üzerindeki etkisi. Anadolu Üniversitesi Sosyal Bilimler Dergisi, 7(2), 73-84.
  • Özdemir, A., & Ordu, C. (2013). Döviz kuru ve dış ticaret ilişkisi: Türkiye örneği. Finans Politik ve Ekonomik Yorumlar, 50(582), 29-42.
  • Öztürk, N. S., Barışık, S., & Darıcı, H. K. (2010). Gelişmekte olan piyasalarda finansal derinleşme ve büyüme ilişkisi: panel veri analizi. ZKÜ Sosyal Bilimler Dergisi, 6(12), 95–119.
  • Peçe, M., Ceyhan, M., & Akpolat, A. (2016). Türkiye’de gelir dağılımının ekonomik büyümeye etkisi üzerine ekonometrik bir analiz. International Journal of Cultural and Social Studies, 2(1), 135-148.
  • Pehlivan, O. (2004). Kamu maliyesi. Trabzon: Derya Kitabevi.
  • Pesaran, M. (2006). Estımatıon and inference in large heterogeneous panels wıth a multıfactor error structure. Econometrica, 74(4), 67–1012. https://doi.org/10.1111/j.1468-0262.2006.00692.x
  • Pesaran, M. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of Applied Econometrics, 22(2), 265-312. https://doi.org/10.1002/jae.951
  • Polat, M. (2018). Doğrudan yabancı sermaye yatırımlarının borsa ve reel sektörde firmalara etkisi: Gelişmekte olan ülkeler üzerine eşbütünleşme ve nedensellik analizi. Bingöl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 8(16), 510-526.
  • Ravallion, M. (1998). Poverty lines in theory and practice. Washington,: World Bank.
  • Reuveny, R., & Li, Q. (2003). Economic openness, democracy, and income inequality: An empirical analysis. Comparative Political Studies, 36(5), 575-601.
  • Rodriguez, F., & Rodrik, D. (1999). Trade policy and economic growth: A skeptic’s guide to the cross-national evidence. NBER Working Papers No: 7081 .
  • Rogoff, K. (1990). Symposium on new institutions for developing country debt. Journal of Economic Perspectives, 4(1), 3-6.
  • Rogoff, K. (2003). Globalisation and global disinflation. Economic Review, 4, 45-78.
  • Romer, C., & Romer, D. (1998). Monetary policy and the well-being of the poor. Cambridge: NBER.
  • Romer, D. (1993). Openness and inflation: Theory and evidence. Quarterly Journal of Economics, 108(4), 869-903.
  • Sachs, J. D., & Warner, A. (1995). Economic reform and the process of global integration . Brookings Papers on Economic Activity, 1, 1-118.
  • Sachsida, A., Carneiro, F., & Loure, P. (2003). Does greater trade openness reduce inflation? further evidence using panel data techniques. Economics Letters, 81(3), 315-319. https://doi.org/10.1016/S0165-1765(03)00211-8
  • Saçık, S. (2009). Büyümenin bir kaynağı olarak ticari dışa açıklık. Sosyal Ekonomik Araştırmalar Dergisi, 9(17), 525 - 548.
  • Safdar, N., Liaquat, M., & Bibi, S. (2021). Role of external debt and trade deficit in economic performance of Pakistan. Annals of Social Sciences and Perspective, 2(1), 1-13.
  • Şahbaz, A., Buluş, A., & Kaleci, F. (2016). Dışa açıklık, doğrudan yabancı yatırımlar ve yoksulluk ilişkisi: Türkiye Örneği. Gaziantep University Journal of Social Sciences, 15 (4), 1106-1117. https://doi.org/10.21547/jss.265500
  • Samimi, A., Ghaderi, S., & Sanginabadi, B. (2011). Openness and inflation in Iran. International Journal of Economics and Management Engeneering, 1(1), 42‐49.
  • Savvides, A. (1992). Investment slowdown in developing countries during the 1980s: Debt overhang or foreign capital inflows. Kyklos, 45(3), 363-378. https://doi.org/10.1111/j.1467-6435.1992.tb02121.x
  • Şeker, M. (2006). Dış borçlanama teorik bir bakış ve dış borçların ekonomik etkileri. Sosyoekonomi, 1, 74-92.
  • Sekmen, F. (2007). Açıklık ve para politikasının etkinliği: Türkiye uygulaması. Muhasebe ve Finasman Dergisi, (33), 171‐177.
  • Serven, L. (2003). Real-exchange rate uncertainty and private ınvestment in LDCs. Review of Economics and Statistics, 85(1), 212-218.
  • Spilimbergo, A., Juan, L., & Szekely, M. (1999). Income distribution, factor endowments, and trade openness. Journal of Development Economics, 59(1), 77-101. https://doi.org/10.1016/S0304-3878(99)00006-1
  • Squire, L. (1993). Fighting poverty. American Economic Review, 83(2), 377-382.
  • Talukdar, S. (2012). The effect of inflation on poverty in developing countries: A panel data analysis. Texas Tech University.
  • Taşç, M., Esener, S., & Darıcı, B. (2009). The effects of openness on inflation: Panel data estimates from selected developing countries. Investment Management and Financial Innovations, 6(4), 28‐34.
  • Tatoğlu, F. (2012). Panel veri ekonometrisi-stata uygulamalı. İstanbul: Beta Basım Yayım.
  • Tatoğlu, F. (2013). İleri Panel veri analizi-stata uygulamalı (2. Baskı b.). İstanbul: Beta Basım Yayım.
  • Tatoğlu, F. (2020). Panel zaman serileri analizi satat uygulamalı. İstanbul: Beta.
  • Taylor, M., & Sarno, L. (1998). The behavior of real exchange rates during the post Bretton Woods period. Journal of International Economics, 46, 281–312. https://doi.org/10.1016/S0022-1996(97)00054-8
  • Tilak, J. (1992). From economic growth to human development: A Commentary on recent indexes of development. International Journal of Social Economics, 19, 31-42. https://doi.org/10.1108/EUM0000000000480
  • Tiruneh, M. (2004). An empirical investigation into the determinants of external indebtedness. PRAGUE Economic Papers, 3, 261-277.
  • Todaro, M. (1994). Economic development. Longman: New York. United Nations Development Program. New York: Oxford University Press.
  • Todaro, M.P., & Smith, S.C. (2012). Economic Development. Pearson Addison Wesley, Boston.
  • Umaru, A., Hamidu, A., & Musa, S. (2013). External debt and domestic debt impact on the growth of the Nigerian economy. MPRA.
  • UNDP. (2016). Human development report 2016. Retrieved from, http://hdr.undp.org/sites/default/files/2016_ human_development_report.pdf
  • UNDP. (2020). Human develepments report. hdr.undp.org/en/indicators/137506#
  • Westerlund, J. (2008). Panel coıntegratıon tests of the fısher effect. Journal of Applıed Econometrıcs, 23, 193–233. https://doi.org/10.1002/jae.967
  • Yalçınkaya, Ö., & Kaya, V. (2017). Eğitimin ekonomik büyüme üzerindeki etkileri: PISA Katılımcıları Üzerinde Bir Uygulama (1990-2014). Sosyoekonomi, 25(33), 11-35. https://doi.org/10.17233/sosyoekonomi.299349
  • Yanıkkaya, H. (2003). Trade Openness and economic growth: A cross-country empirical investigation. Journal of Development Economics, 72, 57-89. https://doi.org/10.1016/S0304-3878(03)00068-3
  • Yaşa, M. (1971). Devlet borçları (2. Baskı b.). İstanbul: Sermet Matbaası.
  • Yılmaz, A., & Karataş, T. (2009). Türkiye ekonomisinde 2001 krizi sonrası süreçte cari işlemler açığının nedenleri üzerine bir inceleme. Marmara Üniversitesi İ.İ.B.F. Dergisi,, 27(2), 69-96.
  • Yusuf, M., Malarvizhi, C., & Khin, A. (2013). Trade liberalization economic growth and poverty reduction in Nigeria. International Journal of Business and Management, 8(2), 42-48.
  • Zaman, K., Rashid, K., Khan, M., & Ahmad, M. (2011). Panel data analysis of growth, ınequality and poverty: Evidence from SAARC countries. Journal of Yaşar University, 21(6), 3523-3537.
Toplam 140 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Konular Ekonomi
Bölüm Araştırma Makalesi
Yazarlar

Melahat Batu Ağırkaya 0000-0002-8703-5622

Yayımlanma Tarihi 30 Aralık 2022
Yayımlandığı Sayı Yıl 2022 Cilt: 7 Sayı: 2

Kaynak Göster

APA Batu Ağırkaya, M. (2022). N11 Ülkelerinde Finansal Derinleşme Yoksulluk ve Ekonomik Büyüme İlişkisi: Finansal Liberalleşme Hipotezi. JOEEP: Journal of Emerging Economies and Policy, 7(2), 155-170.

The sole purpose of JOEEP is to be a prestigious journal which contributes to scientific knowledge. In order to keep this purpose, JOEEP, adopts and follows the publication policies of world’s prestigious scientific journals. All original and qualified works which may contribute to the scientific knowledge, are evaluated through a rigorous editorial and peer review process. Hereby, JOEEP is a peer reviewed and scientific journal. It strictly depends on the scientific principles, rules and ethical framework that are required to this qualification.

JOEEP is published as two issues per year June and December and all publication policies and processes are conducted according to the international standards. JOEEP accepts and publishes the research articles in the fields of economics, political economy, fiscal economics, applied economics, business economics, labour economics and econometrics. JOEEP, without depending on any institution or organization, is a non-profit journal that has an International Editorial Board specialist on their fields. All “Publication Process” and “Writing Guidelines” are explained in the related title and it is expected from authors to Show a complete match to the rules. JOEEP is an open Access journal.