THE ROLE OF FINANCIAL DEVELOPMENT, ECONOMIC GROWTH AND FOREIGN TRADE IN SUSTAINABLE DEVELOPMENT: A CASE OF DEVELOPING COUNTRIES

Yıl 2024, Cilt: 9 Sayı: 2, 10 - 27, 31.12.2024

Esra Karpuz , Bakhtiyar Garayev

https://doi.org/10.24013/jomelips.1378847

Öz

This study examines the relationship between sustainable development and indicators of financial development in emerging market economies. Among the indicators considered for financial development are the effects of financial advancement on sustainable development, national credit to the private sector, market value, foreign trade, and renewable energy. In order to determine the relationship between sustainable development and financial development, panel data analysis will be conducted by utilizing annual data from the period of 2010 to 2019. Between the years 2010 and 2019, financial development, market value, imports and exports in MSCI emerging market countries have positively influenced the sustainable development index. However, increases in domestic credits and renewable energy consumption have led to a decline in the sustainable development index. The consideration of multiple indicators enhances the robustness of representing financial development compared to relying on a single indicator. Within the literature, there is a scarcity of studies concerning sustainable development in developing countries, and there is no existing research that examines the specified indicators within the context of the mentioned countries. The findings of the research will guide the economies of developing countries to become more efficient, sustainable, and resilient to potential crises.

Anahtar Kelimeler

Sustainable Development, Financial Development, Foreign Trade, Panel Data.

SÜRDÜRÜLEBILIR KALKINMADA FİNANSAL GELİŞMİŞLİK, EKONOMİK BÜYÜME VE DIŞ TİCARETİN ROLÜ: GELİŞMEKTE OLAN ÜLKELER ÜZERİNE BİR ARAŞTIRMA

Öz

Çalışmada gelişmekte olan ülke piyasalarında sürdürebilir kalkınma ile finansal gelişmişlik göstergeleri arasında ilişki incelenmektedir. Finansal gelişmişlik olarak ele aldığımız göstergeler arasında, finansal kalkınmanın, özel sektördeki ulusal kredilerin, piyasa değerinin, dış ticaretin ve yenilenebilir enerjinin sürdürebilir kalkınma üzerinde etkilerine dikkat edilmiştir Sürdürebilir kalkınma ve finansal gelişmişlik arasındaki ilişkinin tespit edilmesi için 2010-2019 dönemi çerçevesinde yıllık veriler ele alınarak panel veri analizi uygulanacaktır.2010-2019 yılları kapsamında MSCI gelişmekte olan ülkelerdeki finansal gelişmişlik, borsa değeri, ithal ve ihracat sürdürülebilir kalkınma endeksini olumlu etkilemiştir. Yurtiçi krediler ve yenilenebilir enerji tüketimindeki artışlar ise sürdürülebilir kalkınma endeksinin düşmesine neden olmuştur. Birden fazla göstergenin ele alınması, finansal gelişmişliğin temsil edilmesinin bir göstergeye bağlı olmamasından daha güçlü hale getirmektedir. Literatürde gelişmekte olan ülkelerin sürdürebilir kalkınması ile ilgili çalışmalar kısıtlıdır ve ele aldığımız göstergeleri bahsedilen ülkeler kapsamında inceleyen araştırma mevcut değildir. Çalışma bulguları, gelişmekte olan ülke ekonomilerinin daha verimli hale gelmesi, sürdürülebilir olması ve meydana gelebilecek krizlere karşı daha dirençli olması hususunda yol gösterici olacaktır.

Anahtar Kelimeler

Sürdürebilir Kalkınma, Finansal Gelişmişlik, Dış Ticaret, Panel Veri

Kaynakça

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