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FİNANSAL GELİŞME, TİCARİ AÇIKLIK VE EKONOMİK BÜYÜME İLİŞKİSİ: TÜRKİYE ÖRNEĞİ

Year 2019, Volume: 33 Issue: 2, 553 - 572, 29.03.2019

Abstract

Bu çalışmada, Türkiye'de finansal gelişme ve ticari
açıklık ile ekonomik büyüme ilişkisi 2004:I-2017:III dönemi için incelenmiştir.
Ekonometrik uygulama için tercih edilen değişkenler; finansal gelişme
göstergesi olarak Kredi/GSYİH, M2/GSYİH, BİST/GSYİH olarak belirlenmiş, ticari
açıklık göstergesi olarak İhracat/ GSYİH, ithalat/GSYİH göstergeleri belirlenmiştir.
Johansen Eşbütünleşme test sonuçları, finansal gelişme ve ticari açıklık
göstergeleri ile ekonomik büyüme arasında uzun dönemde bir ilişkinin var
olduğuna işaret etmiştir. Vektör Otoregresif (VAR) yöntemi tahmininden hareket
ile elde edilen Granger Nedensellik Test sonuçları finansal gelişmenin
göstergelerinden biri olan BİST/GSYİH değişkeninden ekonomik büyümeye doğru
nedensellik ilişkisinin var olduğu tespit edilmiştir. Granger Nedensellik Test
sonuçlarına göre ayrıca, ticari açıklık göstergeleri olarak belirlenen İhracat/
GSYİH, ithalat/GSYİH değişkenlerinden ekonomik büyüme yönüne doğru nedensellik
ilişkisinin bulunduğu tespit edilmiştir. Çalışmanın finansal gelişme açısından
sonuçları, arz öncüllü hipotez yaklaşımını desteklemiştir. Elde edilen bulgular,
Türkiye'de 2004-2017 dönemi için, finansal gelişme ve ticari açıklık ile ekonomik
büyüme arasında ilişkinin var olduğuna işaret etmiştir.

References

  • AL-Zubi, K., Al-Rjoub, S. ve Abu-Mhareb, E. (2006) “Financial Development and Economic Growth: A New Empirical Evidence from the MENA Countries 1989-2001”, Applied Econometrics and International Development, 6(3), ss.137-150.
  • Altıntaş, H. ve Ayrıçay, Y. (2010) “The Analysis of the Relationship Between Financial Development and Economic Growth With Bound Testing Approach in Turkey: 1987-2007”. Anadolu University Journal of Social Sciences, 10(2), ss.71-98.
  • Ashgar, N. ve Hussain, Z. (2014) “Financial Development, Trade Openness And Economic Growth In Developing Countries Recent Evidence from Panel Data”, Pakistan Economic and Social Review, 52(2), ss.99-126.
  • Ayad, H. ve Belmokaddem, M. (2017) “Financial Development, Trade Openness and Economic Growth in MENA Countries: TYDL Panel Causality Approach”, Theoretical and Applied Economics, 1(1610), ss.233-246.
  • Granger, C. (1969) “Investigating Causal Relations by Econometric Models and Cross-spectral Method”, Econometrica, 3(37), ss.424-438.
  • Hjalmarsson, E. ve Österholm, P. (2007) “Testing for Cointegration Using the Johansen Methodology When Variables are Near-Integrated”. International Finance Discussion Papers 915, Board of Governors of the Federal Reserve System.
  • Johansen, S. (1988) “Statistical Analysis Of Cointegration Vectors”, Journal of Economic Dynamics and Control, 12(2-3), ss.231-254.
  • Kar, M., Nazlıoğlu, Ş. ve Ağır, H. (2014) “Trade Openness, Financial Development and Economic Growth in Turkey: Linear and Nonlinear Causality Analysis” BDDK Bankacılık ve Finansal Piyasalar, 8(1), ss.63-86.
  • Kenani, J. M. ve Fujio, M. (2012) “A Dynamic Causal Linkage Between Financial Development, Trade Openness And Economic Growth: Evidence From Malawi”, Interdisciplinary Journal of Contemporary Research in Business, 4(5), ss.569-583.
  • Khan, M. A. and Qayyum, A. (2004) “Trade, Financial and Growth Nexus in Pakistan”, Economic Analysis Working Papers, 6(14), ss.1-24.
  • Kıran, B. ve Güriş, B. (2011) “The Impact of Trade and Financial Openness on Economic Growth in Turkey: A Survey on the 1992-2006 Period”, Anadolu University Journal of Social Sciences, 11(2), ss.69-80.
  • Kurihara, Y. (2013) “International Trade Openness and Inflation in Asia”. Research in World Economy, 4(1), ss.70-75.
  • Laval, A. I., Nwanji, T. I., Asaleye, A. ve Ahmed, V. (2016) “Economic Growth, Financial Development and Trade Openness in Nigeria: An Application of the ARDL Bound Testing Approach”. Cogent Economics & Finance, 1(4), ss.1-15.
  • Manga, M., Destek, M. A., Tekeoğlu, M. ve Düzakın, E. (2016) “Ekonomik Büyüme ve Finansal Gelişme İlişkisi: Türkiye Örneği”, International Conference on Eurasian Economies 2016, Kaposvar, Macaristan, 29-31 Ağustos 2016, ss.814-820.
  • McKinnon, R. I. (1973) “Money and Capital in Economic Development”, DC: The Brookings Institution, Washington.
  • Mercan, M. ve Peker, O. (2013) “The Effect of Financial Development on Economic Growth: An Econometric Analysis”, Eskişehir Osmangazi University Journal of Economics and Administrative Sciences, 8(1), ss.93-120.
  • Musamali, R. A., Nyamongo, E. M., ve Moyi E. (2014) “The Relationship Between Financial Development and Economic Growth in Africa”, Research in Applied Economics 6(2), ss.190-208.
  • Nwosa, P. I., Agbeluyi, A. M. ve Saibu, M. (2011) “Causal Relationships Between Financial Development, Foreign Direct Investment and Economic Growth the Case of Nigeria”. International Journal of Business Administration 2(4), ss.93-102.
  • Ozcan, B. ve Ari, A. (2011) “An Empirical Analysis of Relationship between Financial Development and Economic Growth: The Turkish Case”, Business and Economics Research Journal 2(1), ss.122-142.
  • Polat, A., Shahbaz, M. Rehman, I. U. ve Satti, S. L. (2013) “Revisiting Linkages Between, Financial Development, Trade Openness and Economic Growth in South Africa: Fresh Evidence from Combined Cointegration Test” MPRA Paper No. 51724, http://mpra.ub.uni-muenchen.de/51724 , (03.03.2017).
  • Rahim, N. H. A. ve Abedin, N. F. Z. (2014) “Trade Liberalisation, Financial Development and Growth in Malaysia”. International Proceedings of Economics Development & Research 74, ss.38-42.
  • Samargandi, N., Fidrmuc, J. ve Ghosh, S. (2013) “Is the Relationship Between Financial Development and Economic Growth Monotonic for Middle Income Countries?”, Economics and Finance Working Paper Series, Working Paper No.13-21.
  • Shaw, E. S. (1973), Financial Deepening in Economic Development, Oxford University Press, New York.
  • TCMB Türkiye Cumhuriyet Merkez Bankası, Elektronik Veri Dağıtım Sistemi (EVDS), (https://evds2.tcmb.gov.tr/)
  • Yucel, F. (2009) “Causal Relationships Between Financial Development, Trade Openness and Economic Growth: The Case of Turkey”, Journal of Social Sciences, 5(1), ss.33-42.
  • Zivot, E. ve Andrews, D. W. K. (1992) “Further Evidence On The Great Crash, The Oil Price Shock, and The Unit Root Hypothesis”, Journal of Business and Economic Statistics, 10(10), ss.251–70.
Year 2019, Volume: 33 Issue: 2, 553 - 572, 29.03.2019

Abstract

References

  • AL-Zubi, K., Al-Rjoub, S. ve Abu-Mhareb, E. (2006) “Financial Development and Economic Growth: A New Empirical Evidence from the MENA Countries 1989-2001”, Applied Econometrics and International Development, 6(3), ss.137-150.
  • Altıntaş, H. ve Ayrıçay, Y. (2010) “The Analysis of the Relationship Between Financial Development and Economic Growth With Bound Testing Approach in Turkey: 1987-2007”. Anadolu University Journal of Social Sciences, 10(2), ss.71-98.
  • Ashgar, N. ve Hussain, Z. (2014) “Financial Development, Trade Openness And Economic Growth In Developing Countries Recent Evidence from Panel Data”, Pakistan Economic and Social Review, 52(2), ss.99-126.
  • Ayad, H. ve Belmokaddem, M. (2017) “Financial Development, Trade Openness and Economic Growth in MENA Countries: TYDL Panel Causality Approach”, Theoretical and Applied Economics, 1(1610), ss.233-246.
  • Granger, C. (1969) “Investigating Causal Relations by Econometric Models and Cross-spectral Method”, Econometrica, 3(37), ss.424-438.
  • Hjalmarsson, E. ve Österholm, P. (2007) “Testing for Cointegration Using the Johansen Methodology When Variables are Near-Integrated”. International Finance Discussion Papers 915, Board of Governors of the Federal Reserve System.
  • Johansen, S. (1988) “Statistical Analysis Of Cointegration Vectors”, Journal of Economic Dynamics and Control, 12(2-3), ss.231-254.
  • Kar, M., Nazlıoğlu, Ş. ve Ağır, H. (2014) “Trade Openness, Financial Development and Economic Growth in Turkey: Linear and Nonlinear Causality Analysis” BDDK Bankacılık ve Finansal Piyasalar, 8(1), ss.63-86.
  • Kenani, J. M. ve Fujio, M. (2012) “A Dynamic Causal Linkage Between Financial Development, Trade Openness And Economic Growth: Evidence From Malawi”, Interdisciplinary Journal of Contemporary Research in Business, 4(5), ss.569-583.
  • Khan, M. A. and Qayyum, A. (2004) “Trade, Financial and Growth Nexus in Pakistan”, Economic Analysis Working Papers, 6(14), ss.1-24.
  • Kıran, B. ve Güriş, B. (2011) “The Impact of Trade and Financial Openness on Economic Growth in Turkey: A Survey on the 1992-2006 Period”, Anadolu University Journal of Social Sciences, 11(2), ss.69-80.
  • Kurihara, Y. (2013) “International Trade Openness and Inflation in Asia”. Research in World Economy, 4(1), ss.70-75.
  • Laval, A. I., Nwanji, T. I., Asaleye, A. ve Ahmed, V. (2016) “Economic Growth, Financial Development and Trade Openness in Nigeria: An Application of the ARDL Bound Testing Approach”. Cogent Economics & Finance, 1(4), ss.1-15.
  • Manga, M., Destek, M. A., Tekeoğlu, M. ve Düzakın, E. (2016) “Ekonomik Büyüme ve Finansal Gelişme İlişkisi: Türkiye Örneği”, International Conference on Eurasian Economies 2016, Kaposvar, Macaristan, 29-31 Ağustos 2016, ss.814-820.
  • McKinnon, R. I. (1973) “Money and Capital in Economic Development”, DC: The Brookings Institution, Washington.
  • Mercan, M. ve Peker, O. (2013) “The Effect of Financial Development on Economic Growth: An Econometric Analysis”, Eskişehir Osmangazi University Journal of Economics and Administrative Sciences, 8(1), ss.93-120.
  • Musamali, R. A., Nyamongo, E. M., ve Moyi E. (2014) “The Relationship Between Financial Development and Economic Growth in Africa”, Research in Applied Economics 6(2), ss.190-208.
  • Nwosa, P. I., Agbeluyi, A. M. ve Saibu, M. (2011) “Causal Relationships Between Financial Development, Foreign Direct Investment and Economic Growth the Case of Nigeria”. International Journal of Business Administration 2(4), ss.93-102.
  • Ozcan, B. ve Ari, A. (2011) “An Empirical Analysis of Relationship between Financial Development and Economic Growth: The Turkish Case”, Business and Economics Research Journal 2(1), ss.122-142.
  • Polat, A., Shahbaz, M. Rehman, I. U. ve Satti, S. L. (2013) “Revisiting Linkages Between, Financial Development, Trade Openness and Economic Growth in South Africa: Fresh Evidence from Combined Cointegration Test” MPRA Paper No. 51724, http://mpra.ub.uni-muenchen.de/51724 , (03.03.2017).
  • Rahim, N. H. A. ve Abedin, N. F. Z. (2014) “Trade Liberalisation, Financial Development and Growth in Malaysia”. International Proceedings of Economics Development & Research 74, ss.38-42.
  • Samargandi, N., Fidrmuc, J. ve Ghosh, S. (2013) “Is the Relationship Between Financial Development and Economic Growth Monotonic for Middle Income Countries?”, Economics and Finance Working Paper Series, Working Paper No.13-21.
  • Shaw, E. S. (1973), Financial Deepening in Economic Development, Oxford University Press, New York.
  • TCMB Türkiye Cumhuriyet Merkez Bankası, Elektronik Veri Dağıtım Sistemi (EVDS), (https://evds2.tcmb.gov.tr/)
  • Yucel, F. (2009) “Causal Relationships Between Financial Development, Trade Openness and Economic Growth: The Case of Turkey”, Journal of Social Sciences, 5(1), ss.33-42.
  • Zivot, E. ve Andrews, D. W. K. (1992) “Further Evidence On The Great Crash, The Oil Price Shock, and The Unit Root Hypothesis”, Journal of Business and Economic Statistics, 10(10), ss.251–70.
There are 26 citations in total.

Details

Primary Language Turkish
Journal Section Makaleler
Authors

Musa Atgür

Publication Date March 29, 2019
Published in Issue Year 2019 Volume: 33 Issue: 2

Cite

APA Atgür, M. (2019). FİNANSAL GELİŞME, TİCARİ AÇIKLIK VE EKONOMİK BÜYÜME İLİŞKİSİ: TÜRKİYE ÖRNEĞİ. Atatürk Üniversitesi İktisadi Ve İdari Bilimler Dergisi, 33(2), 553-572.

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