Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007

AYRIÇAY, Yücel; ALTINTAŞ, Halil

Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007

Halil ALTINTAŞ, (Kahramanmaraş Sütçü İmam Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü, Kahramanmaraş, Türkiye)

Yücel AYRIÇAY (Kahramanmaraş Sütçü İmam Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İşletme Bölümü, Kahramanmaraş, Türkiye)

Anadolu Üniversitesi Sosyal Bilimler Dergisi

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Yıl: 2010 Cilt: 10 Sayı: 2 Sayfa Aralığı: 71 - 97 Metin Dili: Türkçe İndeks Tarihi: 29-07-2022

Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007

Öz:

Bu çalışma, Türkiye’de 1987-2007 dönemi üç aylık verileri kullanarak finansal gelişme ve ekonomik büyüme arasındaki ampirik ilişkiyi analiz etmeyi amaçlamaktadır. Model, Pesaran vd. (2001) tarafından geliştirilen ARDL (autoregressive distributed lag) eşbütünleşme yöntemi olarak bilinen sınır testi yaklaşımıyla tahmin edilmektedir. Model tahmini sonucunda reel büyüme, finansal gelişme, dışa açıklık ve reel faiz oranı arasında uzun dönem eşbütünleşme ilişkisinin varlığına rastlanmıştır. Uzun dönemde finansal gelişmişlik katsayısındaki yüzde 1’lik bir artışın ekonomik büyümeyi yüzde 0.67, reel faiz oranındaki yüzde 1 artışın ise reel büyümeyi yüzde 0.12 artırdığı görülmüştür. Buna karşılık dışı açıklık göstergesinin katsayısı istatistiksel olarak anlamlı bulunmamıştır. Böylece finansal gelişmişlik politikalarının etkisinin reel faiz oranından daha büyük olması, Türkiye gibi gelişmekte olan ülkelerde fonların maliyetinden ziyade, bulunabilirliğinin reel gelirin artmasında daha fazla katkıda bulunabileceği görüşünü desteklemektedir. Ayrıca bu sonuç, reel faiz oranındaki artışın finansal tasarruflar ve reel geliri destekleyeceği şeklindeki Mckinnon- Shaw hipotezine uygundur.

Anahtar Kelime:

The analysis of the relationship between financial development and economic growth with bound testing approach in Turkey: 1987-2007

Öz:

This paper has empirically examined the relationship between financial development and economic growth in Turkey by using quarterly observation over the period 1987–2007. The model is estimated with the bound testing approach to cointegration with the autoregressive distributed lag (ARDL) framework advanced by Pesaran et al (2001). The results suggest that there is a long-run relationship between real growth, financial development, trade openness and real interest rate. The coefficient of financial development indicates that a 1 percent increase in financial depth increases economic growth by 0.67 percent. While the coefficient of real deposit rate also suggests that a 1 percent rise in real interest rate will increases real output by 0.12 percent in the long run. Although, the coefficient of trade openness is statistically remained insignificant. Since the effects of financial development policy are higher than that of real interest rate which supports the argument that in a developing country like Turkey the availability of funds rather the cost of funds is more important to raise real income. Moreover, this result supports the Mckinnon and Shaw hypothesis that an increase in real interest rate facilitates financial savings and real income.

Anahtar Kelime:

Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık

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APA	ALTINTAŞ H, AYRIÇAY Y (2010). Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007. , 71 - 97.
Chicago	ALTINTAŞ Halil,AYRIÇAY Yücel Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007. (2010): 71 - 97.
MLA	ALTINTAŞ Halil,AYRIÇAY Yücel Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007. , 2010, ss.71 - 97.
AMA	ALTINTAŞ H,AYRIÇAY Y Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007. . 2010; 71 - 97.
Vancouver	ALTINTAŞ H,AYRIÇAY Y Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007. . 2010; 71 - 97.
IEEE	ALTINTAŞ H,AYRIÇAY Y "Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007." , ss.71 - 97, 2010.
ISNAD	ALTINTAŞ, Halil - AYRIÇAY, Yücel. "Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007". (2010), 71-97.

APA	ALTINTAŞ H, AYRIÇAY Y (2010). Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007. Anadolu Üniversitesi Sosyal Bilimler Dergisi, 10(2), 71 - 97.
Chicago	ALTINTAŞ Halil,AYRIÇAY Yücel Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007. Anadolu Üniversitesi Sosyal Bilimler Dergisi 10, no.2 (2010): 71 - 97.
MLA	ALTINTAŞ Halil,AYRIÇAY Yücel Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007. Anadolu Üniversitesi Sosyal Bilimler Dergisi, vol.10, no.2, 2010, ss.71 - 97.
AMA	ALTINTAŞ H,AYRIÇAY Y Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007. Anadolu Üniversitesi Sosyal Bilimler Dergisi. 2010; 10(2): 71 - 97.
Vancouver	ALTINTAŞ H,AYRIÇAY Y Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007. Anadolu Üniversitesi Sosyal Bilimler Dergisi. 2010; 10(2): 71 - 97.
IEEE	ALTINTAŞ H,AYRIÇAY Y "Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007." Anadolu Üniversitesi Sosyal Bilimler Dergisi, 10, ss.71 - 97, 2010.
ISNAD	ALTINTAŞ, Halil - AYRIÇAY, Yücel. "Türkiye'de finansal gelişme ve ekonomik büyüme ilişkisinin sınır testi yaklaşımıyla analizi: 1987-2007". Anadolu Üniversitesi Sosyal Bilimler Dergisi 10/2 (2010), 71-97.