İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth)

Batu Tunay

doi:10.18657/yecbu.89247

İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth)

Öz

İslami bankacılığın ticari bankalara oranla finansal aracılık işlevlerini daha etkin bir şekilde yerine getirdikleri ve uygulandıkları ülkelerde sürdürülebilir büyümeye önemli katkılar yaptıklarına dair çeşitli bulgular vardır. Bu çalışmada İslami bankaların büyüme ve kalkınma üzerindeki rolleri araştırılmıştır. 2000-2013 döneminde 19 İslam ülkesinde GSYİH ve gayri safi sermaye oluşumu ile İslami bankaların toplam aktifleri, kullandırdıkları fonlar ve topladıkları mevduatlar arasındaki nedensellik panel nedensellik testleriyle analiz edilmiştir. Kullanılan örneklemin kapsamlı yapısı ve yararlanılan analiz yöntemi nedenleriyle bu alanda yapılmış benzer çalışmalardan farklılaşmaktadır. Ulaşılan bulgular, İslami bankalara dair değişkenlerin GSYİH ile doğrudan ve güçlü bir nedensellik ilişkisi içinde olmadığını göstermiştir. Daha çok GSYİH’den toplanan mevduatlara ve kullandırılan fonlara doğru bir nedensellik gözlenmektedir. Diğer yandan İslami banka değişkenlerinden gayri safi sermaye oluşumuna doğru tek yönlü nedensellikler belirlenmiştir.

There are various findings which show that in comparison to commercial banking, Islamic banking can more effectively fulfill financial mediatory functions and have important contributions to sustainable growth in countries where Islamic banking is applied. In this article, the roles of Islamic banking in growth and development are examined. The causality relationship between GDP and gross domestic capital formation with the total assets, funds and collected deposits of Islamic banks has been analyzed using panel causality tests for 19 Islamic countries from 2000 to 2013. The comprehensive examples used and the methods used in analyzing these examples differentiate this study from similar studies in this field. The findings from these analysis show that there is no direct and strong causality between variables concerning Islamic banks and GDP. However, it is seems more like a causality from collected deposits to placing the funds. Also, unidirectional causality is seen between islamic banking variables and gross domestic capital formation.

Anahtar Kelimeler

İslami bankacılık, büyüme, nedensellik, panel nedensellik testleri

Kaynakça

Abduh, M. & Chowdhury, N. T. (2012). Does Islamic Banking Matter for Economic Growth in Bangladesh? Journal of Islamic Economics, Banking and Finance, 8(3), 104-113.
Abduh, M. ve Omar, M. A. (2012). Islamic Banking and Economic Growth: The Indonesian Experience, International Journal of Islamic and Middle Eastern Finance and Management, 5(1), 35-47.
Al Hallaq, S. (2006). Contribution of Islamic Banks to the Development of the Jordanian Economy. Islamic Finance News Guide, 46-47.
Beck, T., & Levine, R. (2004). Stock Markets, Banks, and Growth: Panel Evidence. Journal of Banking & Finance, 28(3), 423-442.
Beck, T., Levine, R., & Loayza, N. (2000). Finance and the Sources of Growth. Journal of Financial Economics, 58(1-2), 261-300.
Benhayoun, N., Chairi, I., El Gonnouni, A. & Lyhyaoui, A. (2014). Islamic Banking Challenges Lie in the Growth of Islamic Economy Despite of the Free Interest Loans Policy: Evidences from Support Vector Machine Approach. Journal of Finance and Risk Perspectives, 3(1), 19-31.
Choi, I. (2001). Unit Root Tests for Panel Data. Journal of International Money and Finance, 20, 249–272.
Demetriades, P. O., & Hussein, K. A. (1996). Does Financial Development Cause Economic Growth? Time Series Evidence from 16 Countries. Journal of Development Economics, 51(2), 387-411.

Demirguc-Kunt, A. (2006). Finance and Economic Development: Policy Choice for Developing Countries. World Bank Policy Research Working Paper Series, No. 3955, June, (http://elibrary.worldbank.org/doi/abs/10.1596/1813-9450-3955).
Demirguc-Kunt, A., & Maksimovic, V. (2002). Funding Growth in Bank-based and Market-based Financial System: Evidence from Firm-level Data. Journal of Financial Economics, 65(3), 337–363.
Dornbusch, R. & Reynoso, A. (1989). Financial Factors in Economic Development. NBER Working Papers, No. 2889, March.
Dumitrescu, E.-I., & Hurlin, C. (2012). Testing for Granger Non-causality in Heterogeneous Panels. Economic Modelling, 29(4), 1450-1460.
Furqani, H. & Mulyany, R. (2009). Islamic Banking and Economic Growth: Empirical Evidence from Malaysia, Journal of Economic Cooperation and Development, 30(2), 59-74.
Ghannadian, F. F. & Gautam, G. (2004). Developing Economy Banking: The Case of Islamic Banks. International Journal of Social Economics, 31(8), 740-752.
Goldsmith, R. W. (1969). Financial Structure and Economic Growth in Advanced Countries. National Bureau Committee for Economic Research, Capital Formation and Economic Growth, Princeton, University Press.
Gurley, J. G. & Shaw, E.S. (1955). Financial Aspects of Economic Development. American Economic Review, 45(4), 515-538.
Holtz-Eakin, D., Newey, W., & Rosen, H.S. (1988). Estimating Vector Autoregressions with Panel Data, Econometrica, 56(6), 1371-1395.
Hurlin, C. (2004). Testing Granger Causality in Heterogeneous Panel Data Models with Fixed Coefficients. Mimeo, University Paris IX. (http://www.afse.fr/docs/hurlin_christophe.pdf).
Im, K. S., Pesaran, M. H. & Shin, Y. (2003). Testing for Unit Roots in Heterogeneous Panels. Journal of Econometrics, 115(1), 53–74.
Iqbal, Z. & Mirakhor, A. (1999). Progress and Challenges of Islamic Banking. International Business Review, 41(4/5), 381-405.
Johnson, K. (2013). The Role of Islamic Banking in Economic Growth. Claremnont Colleges, CMC Senior Theses Papers, No: 642, April.
Khoutem, B. J. & Nedra, B. A. (2012). Islamic Participate Financial Intermediation and Economic Growth. Journal of Islamic Economics, Banking and Finance, 8(3), 44-59.
King, R. G., & Levine, R. (1993). Finance and Growth: Schumpeter might be Right. The Quarterly Journal of Economics, 108 (3), 717-737.
Kroessin, M. R. (2011). Re-Casting Development: Islamic Banking and Case of the Islami Bank’s Rural Development Scheme in Bangladesh. Journal of International Development, 23, 855-867.
Levin, A., Lin, C.-F., & Chu, C.S. J. (2002). Unit Root Tests in Panel Data: Asymptotic and Finite-sample Properties. Journal of Econometrics, 108(1), 1–24.
Levine, R. (2005). Finance and Growth: Theory and Evidence. in Handbook of Economic Growth, P. Aghion & S. Durlauf (Eds.), Oxford: Elsevier, 865–934.
Levine, R. (2004). Finance and Growth: Theory and Evidence. NBER Working Paper, No. 10766.
Levine, R., Loayza, N., & Thorsten, B. (2000). Financial Intermediation and Growth: Causality and Causes. Journal of Monetary Economics, 46, 31-77.
Liang, H.-Y., & Reichert, A. (2006). The Relationship between Economic Growth and Banking Sector Development. Banks and Bank Systems, 2(1), 19–35.
Liang, H.-Y., & Reichert, A. (2007). Economic Growth and Financial Sector Development. International Journal of Business and Finance Research, 1(1), 68–78.
Liang, H.-Y. ve Reichet, A. K. (2012). The Impact of Banks and Non-bank Financial Institutions on Economic Growth. The Service Industries Journal, 32(5), 699-717.
Lucas, R.E. (1988). On the Mechanics of Economic Development. Journal of Monetary Economics, 22(1), 3-41.
McKinnon, R.I. (1973). Money and Capital in Economic Development, Washington, DC.: Brooking Institution.
Patrick, H. (1966). Financial Development and Economic Growth in Underdeveloped Countries. Economic Development and Cultural Change, 14(2), 174-189.
Pesaran, H. M. (2007). A Simple Panel Unit Root Test in the Presence of Cross-section Dependence. Journal of Applied Econometrics, 22(2), 265-312.
Robinson, J. (1952). The Generalization of the General Theory in the Rate of Interest and Other Essays, London: Macmillan.
Rudnyckyj, D. (2014). Islamic Finance and Afterlives of Development in Malaysia. Political and Legal Anthropology Review, 37(1), 69-88.
Saleem, S. (2007), Role of Islamic Banks in Economic Development. MPRA Papers, No: 7332, December.
Sarwer, S., Ramzan, M. & Ahmad, W. (2013). Does Islamic Banking System Contributes to Economy Development. Global Journal of Management and Business Research, 13(2), 61-68.
Shaw, E. S. (1973). Financial Deepening in Economic Development, Oxford: Oxford University Press.
Shen, C.-H., & Lee, C.-C. (2006). Same Financial Development Yet Different Economic Growth –Why? Journal of Money, Credit, and Banking, 38 (7), 1907-1944.
Schumpeter, J.A. (1934). The Theory of Economic Development, Cambridge, MA: Harvard University Press.
Suzuki, Y., Barai, M. K. & Udin, Sohrab S.M. (2013). Islamic Banking and Grameen Mode of Microcredit in Bangladesh: An Institutional Comparison. Contemporary South Asia, 21(4), 413-428.
Tabash, M. I. &e Dhankar, R. S. (2014a). Islamic Banking and Economic Growth: an Empirical Evidence from Qatar. Journal of Applied Economics and Business, 2(1), 51-67.
Tabash, M. I. & Dhankar, R. S. (2014b). The Flow of Islamic Finance and Economic Growth: An Empirical Evidence of Middle East. Journal of Finance and Accounting, 2(1), 11-19.
Tabash, M. I. & Dhankar, R. S. (2014c). Islamic Finance and Economic Growth: An Empirical Evidence from United Arab Emirates (UAE). Journal of Emerging Issues in Economics, Finance and Banking, 3(2), 1069-1085.
Tajgardoon, G., Behname, M. & Noormohamadi, K. (2013). Islamic Banking and Economic Growth: Evidence from Asia. Journal of Modern Accounting and Auditing, 9(4), 542-546.
Yazdan, G. F. & Sadr, M. H. (2012). Analysis of Islamic Bank’s Financing and Economic Growth: Case Study Iran and Indonesia. Journal of Economic Cooperation and Development, 33(4), 1-24.

Ayrıntılar

Birincil Dil

Türkçe

Konular

-

Bölüm

-

Yazarlar

Batu Tunay

Yayımlanma Tarihi

25 Ağustos 2016

Gönderilme Tarihi

25 Ağustos 2016

Kabul Tarihi

-

Yayımlandığı Sayı

Yıl 2016 Cilt: 23 Sayı: 2

DOI

https://doi.org/10.18657/yecbu.89247

IZ

https://izlik.org/JA85EW44MT

Kaynak Göster

RIS / Bibtex

APA

Tunay, B. (2016). İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth). Yönetim ve Ekonomi Dergisi, 23(2), 485-502. https://doi.org/10.18657/yecbu.89247

AMA

1.Tunay B. İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth). YÖNEKO. 2016;23(2):485-502. doi:10.18657/yecbu.89247

Chicago

Tunay, Batu. 2016. “İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth)”. Yönetim ve Ekonomi Dergisi 23 (2): 485-502. https://doi.org/10.18657/yecbu.89247.

EndNote

Tunay B (01 Ağustos 2016) İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth). Yönetim ve Ekonomi Dergisi 23 2 485–502.

IEEE

[1]B. Tunay, “İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth)”, YÖNEKO, c. 23, sy 2, ss. 485–502, Ağu. 2016, doi: 10.18657/yecbu.89247.

ISNAD

Tunay, Batu. “İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth)”. Yönetim ve Ekonomi Dergisi 23/2 (01 Ağustos 2016): 485-502. https://doi.org/10.18657/yecbu.89247.

JAMA

1.Tunay B. İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth). YÖNEKO. 2016;23:485–502.

MLA

Tunay, Batu. “İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth)”. Yönetim ve Ekonomi Dergisi, c. 23, sy 2, Ağustos 2016, ss. 485-02, doi:10.18657/yecbu.89247.

Vancouver

1.Batu Tunay. İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth). YÖNEKO. 01 Ağustos 2016;23(2):485-502. doi:10.18657/yecbu.89247

İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth)

İslami Bankacılık ile Ekonomik Büyüme Arasında Nedensellik İlişkileri(Causality Relations Between Islamic Banking and Economic Growth)

Öz

Anahtar Kelimeler

Kaynakça

Ayrıntılar

Birincil Dil

Konular

Bölüm

Yazarlar

Yayımlanma Tarihi

Gönderilme Tarihi

Kabul Tarihi

Yayımlandığı Sayı

DOI

IZ

Kaynak Göster

Cited By

Türkiye’de Kredi ve İhracat Arasındaki İlişki: İslami ve Konvansiyonel Bankaların Karşılaştırmalı Analizi

İkili Bankacılık Sisteminde İslami Bankacılık ve Ekonomik Büyüme

THE IMPACTS OF PARTICIPATION BANKS ON REAL ECONOMY: A CASE OF TURKEY

Türkiye’de Mevduatların Krediye Dönüşümünün Büyümeye Etkileri: Tüketim Çekişli mi? Yatırım İtişli mi?

Makroekonomik Değişkenlerinin Katılım Fonları Üzerindeki Etkisi: ARDL Sınır Testi Yaklaşımı

CONTRIBUTION OF ISLAMIC BANKING TO GROWTH: EMPIRICAL ANALYSIS FROM A DIFFERENT PERSPECTIVE

TÜRKİYE’DE İSLAMİ BANKACILIK SİSTEMİ İLE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİNİN AMPİRİK BİR ANALİZİ

Islamic banking finance and private sector investment in dual banking systems: the impact of institutional quality