THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH

YILMAZ, Ömer; YÜCE AKINCI, Gönül; AKINCI, Merter

THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH

Merter AKINCI, (Ordu Üniversitesi, Ünye İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü, Ordu, Türkiye)

Gönül YÜCE AKINCI, (Ordu Üniversitesi, Ünye İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü, Ordu, Türkiye)

Ömer YILMAZ (Ordu Üniversitesi, Ünye İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü, Ordu, Türkiye)

Central Bank Review

1 0

Yıl: 2015 Cilt: 15 Sayı: 3 Sayfa Aralığı: 1 - 14 Metin Dili: Türkçe İndeks Tarihi: 29-07-2022

THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH

Öz:

Bu çalışmanın amacı, AB üyesi ülkelerde merkez bankası bağımsızlığı, finansal özgürlük ve ekonomik büyüme arasındaki ilişkileri 1995-2011 dönemi itibarıyla panel ARDL sınır testi yaklaşımını kullanarak incelemektir. Çalışmanın sonuçları, hem uzun ve hem de kısa dönemde merkez bankası bağımsızlığı, finansal özgürlük ve ekonomik büyüme arasında pozitif ve istatistiki bakımdan anlamlı ilişkilerin varlığını göstermiştir. Ayrıca, uzun dönemli ampirik sonuçlar, cari dönem merkez bankası bağımsızlığının ve finansal özgürlüğün ulusal çıktı düzeyini belirleyen önemli faktörler olduğunu ortaya koymuştur. İlaveten, kısa dönem dinamiklerine ilişkin bulguların uzun dönemli tahmin sonuçları ile paralellik gösterdiği de belirlenmiştir

Anahtar Kelime:

Konular: İşletme İktisat

Öz:

T The purpose of this study is to investigate the nexus between central bank independence, financial freedom, and economic growth in EU member countries from 1995 to 2011 by employing panel ARDL bounds testing approach. The results suggest that there is a positive and statistically significant evidence between central bank independence, financial freedom, and economic growth in both long and short-term. Besides, long-term empirical results refer that current period central bank independence and financial freedom are the important factors for determining the national output level. In addition, the results of the short-term dynamics are parallel with the long-term estimation results. JEL C33, E58, F36, O47 Keywords Central bank independence, Financial freedom, Economic growth, Panel ARDL Bounds Testing Approach ÖZ

Anahtar Kelime:

Konular: İşletme İktisat

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

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APA	AKINCI M, YÜCE AKINCI G, YILMAZ Ö (2015). THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH. , 1 - 14.
Chicago	AKINCI Merter,YÜCE AKINCI Gönül,YILMAZ Ömer THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH. (2015): 1 - 14.
MLA	AKINCI Merter,YÜCE AKINCI Gönül,YILMAZ Ömer THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH. , 2015, ss.1 - 14.
AMA	AKINCI M,YÜCE AKINCI G,YILMAZ Ö THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH. . 2015; 1 - 14.
Vancouver	AKINCI M,YÜCE AKINCI G,YILMAZ Ö THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH. . 2015; 1 - 14.
IEEE	AKINCI M,YÜCE AKINCI G,YILMAZ Ö "THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH." , ss.1 - 14, 2015.
ISNAD	AKINCI, Merter vd. "THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH". (2015), 1-14.

APA	AKINCI M, YÜCE AKINCI G, YILMAZ Ö (2015). THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH. Central Bank Review, 15(3), 1 - 14.
Chicago	AKINCI Merter,YÜCE AKINCI Gönül,YILMAZ Ömer THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH. Central Bank Review 15, no.3 (2015): 1 - 14.
MLA	AKINCI Merter,YÜCE AKINCI Gönül,YILMAZ Ömer THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH. Central Bank Review, vol.15, no.3, 2015, ss.1 - 14.
AMA	AKINCI M,YÜCE AKINCI G,YILMAZ Ö THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH. Central Bank Review. 2015; 15(3): 1 - 14.
Vancouver	AKINCI M,YÜCE AKINCI G,YILMAZ Ö THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH. Central Bank Review. 2015; 15(3): 1 - 14.
IEEE	AKINCI M,YÜCE AKINCI G,YILMAZ Ö "THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH." Central Bank Review, 15, ss.1 - 14, 2015.
ISNAD	AKINCI, Merter vd. "THE RELATIONSHIP BETWEEN CENTRAL BANK INDEPENDENCE, FINANCIAL FREEDOM, AND ECONOMIC GROWTH: A PANEL ARDL BOUNDS TESTING APPROACH". Central Bank Review 15/3 (2015), 1-14.