Financial Inclusion and Economic Growth: An Analysis for Turkey

Öz

Financial inclusion aimed to ensure that all segments of the society have access to financial services to improve living standards and reduce poverty, which are factors that affect economic growth. Despite the enormous growth in the financial system in the last decade around the world, it is noteworthy that the use of financial services has not spread to a large part of the population. The first aim of the study is measuring the level of financial inclusion in Turkey and the other is determine the relationship between financial inclusion and economic growth. In this study covering the period of 2010-2019, a financial inclusion index was created as an indicator of financial inclusion, and it was determined that Turkey's level of financial inclusion was low in the period under consideration. The relationship between financial inclusion and economic growth was examined by using the Toda-Yamamoto causality test and ARDL analysis. As a result of the study, bidirectional causality relationship was determined between financial inclusion and economic growth. In addition, it was found that financial inclusion increased economic growth in the long and short term, economic growth increased financial inclusion in the long term, but it did not have a significant effect on financial inclusion in the short term.

Anahtar Kelimeler

• Financial Inclusion
• Economic Growth
• Index

Finansal Kapsayıcılık ve Ekonomik Büyüme: Türkiye için Bir Analiz

Öz

Finansal kapsayıcılık ile ekonomik büyüme üzerinde etkili faktörler olan yaşam standartlarında bir iyileşme yaratmak ve yoksulluğu azaltmak amacıyla toplumun tüm kesimlerinin finansal hizmetlere erişimini sağlamak hedeflenmektedir. Dünya genelinde son on yılda finansal sistemde görülen muazzam büyümeye rağmen finansal hizmetlerin kullanımının nüfusun geniş kesimine yayılmadığı dikkat çekmektedir. Çalışmanın amaçlarından ilki Türkiye’de finansal kapsayıcılığın düzeyini ölçmek diğeri ise finansal kapsayıcılık ile ekonomik büyüme arasındaki ilişkiyi tespit etmektir. 2010-2019 dönemini kapsayan bu çalışmada finansal kapsayıcılık göstergesi olarak bir finansal kapsayıcılık endeksi oluşturulmuş ve ele alınan dönemde Türkiye’nin finansal kapsayıcılık derecesinin düşük olduğu belirlenmiştir. Finansal kapsayıcılık ile ekonomik büyüme arasındaki ilişki Toda-Yamamoto nedensellik testi ve ARDL analizi kullanılarak incelenmiştir. Çalışma sonucunda, finansal kapsayıcılık ile ekonomik büyüme arasında çift yönlü nedensellik ilişkisi tespit edilmiştir. Ayrıca finansal kapsayıcılığın uzun ve kısa dönemde ekonomik büyümeyi artırdığı, ekonomik büyümenin uzun dönemde finansal kapsayıcılığı artırdığı fakat kısa dönemde finansal kapsayıcılık üzerinde anlamlı bir etkisi olmadığı saptanmıştır.

Anahtar Kelimeler

• Finansal Kapsayıcılık
• Ekonomik Büyüme
• Endeks

Kaynakça

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