he Effect of Financial Development on Income Distribution: The Case of Turkey

Yıl 2025, Sayı: 124, 233 - 258, 01.10.2025

Filiz Köyel , Nebiye Yamak

https://doi.org/10.33203/mfy.1637559

Öz

In this study, the asymmetric effect of financial development on income distribution in Turkey is investigated in the short and long run for the period 1980-2022. As a result of two different models estimated for two different financial development indicators with the non-linear ARDL method, it was found that financial development is a very important determinant in explaining income distribution. Moreover, the effect of financial development on income distribution is found to be asymmetric. It is thought that the asymmetric relationship may stem from the fact that as financial development is achieved, individuals in the low-income group are positively affected by this situation, while those in the high-income group are not affected much, whereas both income groups are affected by this situation when financial development enters a stagnation or regression stage with financial crises. These findings can guide the design of financial literacy and inclusive financial policies in Turkey.

Anahtar Kelimeler

Financial Development , Income Distribution , Nonlinear ARDL.

Finansal Gelişmenin Gelir Dağılımı Üzerindeki Etkisi: Türkiye Örneği

Öz

Bu çalışmada 1980-2022 dönemi için, Türkiye özelinde finansal gelişmenin gelir dağılımı üzerindeki asimetrik etkisi kısa ve uzun dönem itibariyle araştırılmıştır. Doğrusal olmayan ARDL yöntemi ile iki farklı finansal gelişme göstergesi için tahmin edilen iki farklı model sonucunda finansal gelişmenin gelir dağılımını açıklamada oldukça önemli bir belirleyici olduğuna dair bulgular elde edilmiştir. Ayrıca finansal gelişmenin gelir dağılımı üzerindeki etkisinin asimetrik olduğu belirlenmiştir. Belirlenen asimetrik ilişkinin, finansal gelişme sağlandıkça düşük gelir grubundaki bireylerin bu durumdan olumlu etkilenmesi ancak yüksek gelir grubundakilerin pek etkilenmemesinden, buna karşılık finansal gelişmenin, finansal krizlerle durma veya gerileme aşamasına girmesiyle her iki gelir grubunun da bu durumdan etkilenmesinden kaynaklanabileceği düşünülmektedir. Bu bulgular, Türkiye’de finansal okuryazarlık ve kapsayıcı finansal politikalarının tasarımında yönlendirici olabilir.

Anahtar Kelimeler

Finansal Gelişme , Gelir Dağılımı , Doğrusal Olmayan ARDL.

Kaynakça

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