The Effect of Macroeconomic Stability on Economic Growth: an Application on OECD Countries

Hüseyin Enes Erkoçak; İbrahim Erem Şahin

Makale detayları

The Effect of Macroeconomic Stability on Economic Growth: an Application on OECD Countries

Yazarlar:

Hüseyin Enes Erkoçak | İbrahim Erem Şahin

Yayıncı:

Selcuk University

Ana Başlıklar:

Büyüme

Dergi:

Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi Issue 54, pp.342-356

Belge Tipi:

Makale

Yayın Tarihi:

8/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001326011

pISSN:

2667-4750

Anahtar kelimeler:

Özet:

 The aim of this study is to invastigate the effect of macroeconomic stability on economic growth factors in OECD countries. In the study, data for the 20 years between 2002 and 2021 were discussed. The annual financial data of 36 OECD member countries for the relevant periods were analyzed using the panel data method. Empirical results show that there is a statistically strong and positive relationship between the countrys macroeconomic indicators, Money Supply and Industrial Production Index, and Economic Growth Indicator GDP, Additionally, it was found that there is a negative correlation between Unemployment Rate, Short-Term Interest Rates and GDP. According to the results obtained, it is observed that increases in money supply and production accelerate growth, while increases in unemployment and interest rates contract economic growth. Moreover; It has been concluded that economic growth, which is frequently encountered in the literature, is not only dependent on financial stability and growth theories, but also the factors that provide macroeconomic stability provide an important driving force on economic growth.

 The aim of this study is to invastigate the effect of macroeconomic stability on economic growth factors in OECD countries. In the study, data for the 20 years between 2002 and 2021 were discussed. The annual financial data of 36 OECD member countries for the relevant periods were analyzed using the panel data method. Empirical results show that there is a statistically strong and positive relationship between the countrys macroeconomic indicators, Money Supply and Industrial Production Index, and Economic Growth Indicator GDP, Additionally, it was found that there is a negative correlation between Unemployment Rate, Short-Term Interest Rates and GDP. According to the results obtained, it is observed that increases in money supply and production accelerate growth, while increases in unemployment and interest rates contract economic growth. Moreover; It has been concluded that economic growth, which is frequently encountered in the literature, is not only dependent on financial stability and growth theories, but also the factors that provide macroeconomic stability provide an important driving force on economic growth.

 The aim of this study is to invastigate the effect of macroeconomic stability on economic growth factors in OECD countries. In the study, data for the 20 years between 2002 and 2021 were discussed. The annual financial data of 36 OECD member countries for the relevant periods were analyzed using the panel data method. Empirical results show that there is a statistically strong and positive relationship between the countrys macroeconomic indicators, Money Supply and Industrial Production Index, and Economic Growth Indicator GDP, Additionally, it was found that there is a negative correlation between Unemployment Rate, Short-Term Interest Rates and GDP. According to the results obtained, it is observed that increases in money supply and production accelerate growth, while increases in unemployment and interest rates contract economic growth. Moreover; It has been concluded that economic growth, which is frequently encountered in the literature, is not only dependent on financial stability and growth theories, but also the factors that provide macroeconomic stability provide an important driving force on economic growth.

 Bu çalışmanın amacı, OECD ülkelerinde makroekonomik istikrarın, ekonomik büyüme faktörleri üzerindeki etkisini araştırmaktır. Çalışmada 2002 ile 2021 arasındaki 20 seneye ait veriler ele alınmıştır. İlgili dönemlerde, OECD üyesi 36 ülkeye ait yıllık finansal veriler, panel veri yöntemi ile analize tabi tutulmuştur. Ampirik sonuçlar, ülkelere ait makroekonomik göstergeler olan, Para Arzı ve Sanayi Üretim Endeksi ile Ekonomik Büyüme Göstergesi GSYİH arasında istatistiksel olarak güçlü ve pozitif bir ilişki olduğunu göstermektedir. Ayrıca, İşsizlik Oranı ve Kısa Vadeli Faiz Oranları ile GSYİH arasında ise negatif bir korelasyon olduğu sonuçlarına ulaşılmıştır. Elde edilen sonuçlara göre; para arzı ve üretimdeki artışların büyümeyi hızlandırdığı, işsizlik ve faiz oranlarındaki artışın ise, ekonomik büyümeyi daralttığı görülmektedir. Ayrıca; literatürde sıkça karşılaşılan ekonomik büyümenin sadece finansal istikrara ve büyüme teorilerine bağlı olmadığını, ekonomik büyüme üzerinde makroekonomik istikrarı sağlayan faktörlerin de önemli bir itici güç sağladığı sonuçlarına ulaşılmıştır.

Makale detayları

The Effect of Macroeconomic Stability on Economic Growth: an Application on OECD Countries

Yazarlar:

Hüseyin Enes Erkoçak | İbrahim Erem Şahin

Yayıncı:

Selcuk University

Ana Başlıklar:

Büyüme

Dergi:

Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi Issue 54, pp.342-356

Belge Tipi:

Makale

Yayın Tarihi:

8/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001326011

pISSN:

2667-4750

Macroeconomic Stability

OECD Countries

Panel Data AnalysisMakroekonomik İstikrar

OECD Ülkeleri

Panel Veri Analizi

Sayı

Makale detayları

The Effect of Macroeconomic Stability on Economic Growth: an Application on OECD Countries

Yazarlar: Hüseyin Enes Erkoçak | İbrahim Erem Şahin

Yayıncı: Selcuk University

Ana Başlıklar: Büyüme

Dergi: Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi Issue 54, pp.342-356

Belge Tipi: Makale

Yayın Tarihi: 8/2024

Belge Dili: Türkçe

Document ID (Org No.): 2001326011

pISSN: 2667-4750

Macroeconomic Stability

OECD Countries

Panel Data AnalysisMakroekonomik İstikrar

OECD Ülkeleri

Panel Veri Analizi

Sayı

Yazarlar:

Hüseyin Enes Erkoçak | İbrahim Erem Şahin

Yayıncı:

Selcuk University

Ana Başlıklar:

Büyüme

Dergi:

Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi Issue 54, pp.342-356

Belge Tipi:

Makale

Yayın Tarihi:

8/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001326011

pISSN:

2667-4750