FİNANSAL İNOVASYON İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİ: TÜRKİYE ÖRNEĞİ

Year 2023, Volume: 10 Issue: 2, 1691 - 1709, 02.08.2023

Gülay Çizgici Akyüz , Seval Akbulut Bekar

https://doi.org/10.30798/makuiibf.1097374

Abstract

Bu çalışmanın amacı, Türkiye ekonomisinde 1970-2019 dönemi finansal inovasyon ile ekonomik büyüme ilişkisi araştırmaktır. Çalışmada, ekonomik büyüme göstergesi olarak kişi başına düşen GSYİH, finansal inovasyon göstergesi olarak Özel Sektöre verilen yurtiçi kredilerin GSYİH oranı ve Geniş/Dar Para arzının oranı, finansal büyüme göstergesi olarak Brüt Sabit Sermaye Oluşumunun GSYIH oranı kullanılmıştır. Finansal inovasyon ile ekonomik büyüme arasındaki ilişki Dolado-Lüthkepol ve ARDL yöntemleri yardımıyla incelenmiştir. Analizden elde edilen bulgularda, 1970-2019 dönemi Türkiye ekonomisinde finansal inovasyon ve gelişmenin büyüme üzerinde etkili olduğu görülmektedir. Finansal inovasyon göstergesi olarak çalışmada kullanılan Özel sektör kredilerinin GSYH oranı ve finansal gelişme göstergesi olarak kullanılan Brüt Sabit Sermaye Oluşumunun GSYIH oranı değişkenlerinin büyüme üzerinde olumlu etkisi olduğu tespit edilmiştir. Diğer taraftan ise, finansal inovasyon göstergesi olarak kullanılan Geniş Para Arzı/Dar Para arzı değişkeninin büyüme üzerinde etkinin olumsuz olduğu sonucuna ulaşılmıştır. Dolayısıyla Türkiye ekonomisinde finansal inovasyonun olumlu ve olumsuz etkilerinin olduğu tespit edilmiştir.

Keywords

Finansal İnovasyon, Ekonomik Büyüme, ARDL, Finansal Büyüme.

THE RELATIONSHIP OF FINANCIAL INNOVATION AND ECONOMIC GROWTH: TURKEY CASE

Abstract

ABSTRACT
The aim of this study is to research the relationship between financial innovation and economic growth during the 1970–2019 period in Turkey’s economy. Here, GDP per capita is used as an indicator of economic growth, GDP ratio of domestic credits to private sector and the ratio of broad/narrow money supply as indicators of financial innovation, and GDP ratio of gross fixed capital formation as an indicator of financial growth. The relationship between financial innovation and economic growth is analyzed by means of Dolado-Lüthkepol and ARDL methods. Findings reveal that financial innovation and development had an impact on growth in Turkey’s economy during the 1970–2019 period. It has been established that the GDP ratio of private sector loans, used as an indicator of financial innovation, and GDP ratio of gross fixed capital formation, used as an indicator of financial development, have a positive effect on growth. On the other hand, it has been determined that the effect of the variable broad money supply/narrow money supply, which is used as an indicator of financial innovation, on growth is negative. Accordingly, it has been determined that financial innovation has positive and negative effects on Turkey’s economy

Keywords

Financial Innovation, Economic Growth, ARDL, Financial Development.

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