THE RELATIONSHIP OF INFLATION, UNEMPLOYMENT, FINANCIAL DEVELOPMENT AND INCOME INEQUALITY IN TÜRKİYE

Mustafa Naimoğlu

Makale detayları

THE RELATIONSHIP OF INFLATION, UNEMPLOYMENT, FINANCIAL DEVELOPMENT AND INCOME INEQUALITY IN TÜRKİYE

Yazarlar:

Mustafa Naimoğlu

Yayıncı:

Sakarya University

Ana Başlıklar:

Makroekonomik Teori | Enflasyon | İstihdam | Finansal Ekonomi

Dergi:

Sakarya Üniversitesi İktisat Dergisi Vol.12 Issue 4, pp.441-462

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

İngilizce

Document ID (Org No.):

2001309199

pISSN:

2147-0790

Anahtar kelimeler:

Özet:

 This study aims to explore the impact of inflation and unemployment on income distribution in the Turkish context. Additionally, the study seeks to assess the applicability of the financial Kuznets curve in the context of financial development. To achieve these objectives, the research utilizes annual data spanning the years 1990 to 2021. The investigation employs standard and Fourier Augmented Dickey-Fuller ADF tests to ascertain the stationarity of variables, Fourier Engle-Granger and Standard Engle-Granger test to determine cointegration relationships, and FMOLS, DOLS, and CCR estimators for long-short-term coefficient estimation. The empirical results indicate that elevated levels of unemployment and inflation during the examined period are correlated with heightened income inequality in Türkiye. In contrast, the validity of the financial Kuznets curve is not supported by the data in the relevant timeframe. Its noteworthy that the simultaneous consideration of financial development, unemployment, and inflation variables for Türkiye, as well as the utilization of Fourier methods for analysis, contribute novel dimensions to the financial Kuznets curve literature. Therefore, both the variables employed in the Turkish context and the methodological findings presented in this study offer innovative insights to the field.

 This study aims to explore the impact of inflation and unemployment on income distribution in the Turkish context. Additionally, the study seeks to assess the applicability of the financial Kuznets curve in the context of financial development. To achieve these objectives, the research utilizes annual data spanning the years 1990 to 2021. The investigation employs standard and Fourier Augmented Dickey-Fuller ADF tests to ascertain the stationarity of variables, Fourier Engle-Granger and Standard Engle-Granger test to determine cointegration relationships, and FMOLS, DOLS, and CCR estimators for long-short-term coefficient estimation. The empirical results indicate that elevated levels of unemployment and inflation during the examined period are correlated with heightened income inequality in Türkiye. In contrast, the validity of the financial Kuznets curve is not supported by the data in the relevant timeframe. Its noteworthy that the simultaneous consideration of financial development, unemployment, and inflation variables for Türkiye, as well as the utilization of Fourier methods for analysis, contribute novel dimensions to the financial Kuznets curve literature. Therefore, both the variables employed in the Turkish context and the methodological findings presented in this study offer innovative insights to the field.

 This study aims to explore the impact of inflation and unemployment on income distribution in the Turkish context. Additionally, the study seeks to assess the applicability of the financial Kuznets curve in the context of financial development. To achieve these objectives, the research utilizes annual data spanning the years 1990 to 2021. The investigation employs standard and Fourier Augmented Dickey-Fuller ADF tests to ascertain the stationarity of variables, Fourier Engle-Granger and Standard Engle-Granger test to determine cointegration relationships, and FMOLS, DOLS, and CCR estimators for long-short-term coefficient estimation. The empirical results indicate that elevated levels of unemployment and inflation during the examined period are correlated with heightened income inequality in Türkiye. In contrast, the validity of the financial Kuznets curve is not supported by the data in the relevant timeframe. Its noteworthy that the simultaneous consideration of financial development, unemployment, and inflation variables for Türkiye, as well as the utilization of Fourier methods for analysis, contribute novel dimensions to the financial Kuznets curve literature. Therefore, both the variables employed in the Turkish context and the methodological findings presented in this study offer innovative insights to the field.

 Bu çalışma, enflasyon ve işsizliğin gelir dağılımı üzerindeki etkisini Türkiye bağlamında incelemeyi amaçlamaktadır. Ek olarak, çalışma finansal Kuznets eğrisinin finansal gelişme bağlamında uygulanabilirliğini değerlendirmeyi amaçlamaktadır. Araştırma, bu hedeflere ulaşmak için 1990 ile 2021 yıllarını kapsayan yıllık verileri kullanır. Araştırma, değişkenlerin durağanlığını belirlemek için standart ve Fourier Augmented Dickey-Fuller ADF testleri, eşbütünleşme ilişkileri için Fourier Engle-Granger ve Standard Engle-Granger ve uzun-kısa vadeli katsayı tahmini için FMOLS, DOLS ve CCR tahmin edicilerini kullanır. Ampirik sonuçlar, incelenen dönemde artan işsizlik ve enflasyon düzeylerinin Türkiyedeki gelir eşitsizliği ile pozitif ilişkili olduğunu göstermektedir. Buna karşılık, finansal Kuznets eğrisinin geçerliliği, ilgili zaman dilimindeki veriler tarafından desteklenmemektedir. Türkiye için finansal gelişme, işsizlik ve enflasyon değişkenlerinin eş zamanlı olarak değerlendirilmesinin yanı sıra Fourier yöntemlerinin analiz için kullanılmasının finansal Kuznets eğrisi literatürüne yeni boyutlar kazandırması dikkat çekicidir. Bu nedenle, hem Türkiye bağlamında kullanılan değişkenler hem de bu çalışmada sunulan metodolojik bulgular alana yenilikçi bakış açıları sunmaktadır.

Makale detayları

THE RELATIONSHIP OF INFLATION, UNEMPLOYMENT, FINANCIAL DEVELOPMENT AND INCOME INEQUALITY IN TÜRKİYE

Yazarlar:

Mustafa Naimoğlu

Yayıncı:

Sakarya University

Ana Başlıklar:

Makroekonomik Teori | Enflasyon | İstihdam | Finansal Ekonomi

Dergi:

Sakarya Üniversitesi İktisat Dergisi Vol.12 Issue 4, pp.441-462

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

İngilizce

Document ID (Org No.):

2001309199

pISSN:

2147-0790

Inflation

unemployment

Gini coefficient

financial development

TürkiyeEnflasyon

işsizlik

Gini katsayısı

finansal gelişme

Türkiye.

Sayı

Makale detayları

Yazarlar: Mustafa Naimoğlu

Yayıncı: Sakarya University

Ana Başlıklar: Makroekonomik Teori | Enflasyon | İstihdam | Finansal Ekonomi

Dergi: Sakarya Üniversitesi İktisat Dergisi Vol.12 Issue 4, pp.441-462

Belge Tipi: Makale

Yayın Tarihi: 12/2023

Belge Dili: İngilizce

Document ID (Org No.): 2001309199

pISSN: 2147-0790

Sayı

Yazarlar:

Mustafa Naimoğlu

Yayıncı:

Sakarya University

Ana Başlıklar:

Makroekonomik Teori | Enflasyon | İstihdam | Finansal Ekonomi

Dergi:

Sakarya Üniversitesi İktisat Dergisi Vol.12 Issue 4, pp.441-462

Belge Tipi:

Makale

Yayın Tarihi:

12/2023

Belge Dili:

İngilizce

Document ID (Org No.):

2001309199

pISSN:

2147-0790