RELATIONSHIP BETWEEN INSTITUTIONAL QUALITY AND FINANCIAL DEVELOPMENT: THE CASE OF TÜRKİYE

Fatih Yücel; Hilal Budak Biçer

Makale detayları

RELATIONSHIP BETWEEN INSTITUTIONAL QUALITY AND FINANCIAL DEVELOPMENT: THE CASE OF TÜRKİYE

Yazarlar:

Fatih Yücel | Hilal Budak Biçer

Yayıncı:

Nigde Omer Halisdemir University

Ana Başlıklar:

Zaman Serileri Analizi | Kurumsal İktisat Teorisi

Dergi:

Niğde Ömer Halisdemir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi Vol.6 Issue 2, pp.290-303

Belge Tipi:

Makale

Yayın Tarihi:

12/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001336514

pISSN:

2687-5306

Anahtar kelimeler:

Özet:

 Institutional quality has an impact on macroeconomic performance through shaping production and exchange activities. Evaluating the effects of institutional structure on the economy is important in determining government policies. Along with the importance given to economic growth, financial development attracts attention in terms of resource creation. There are many studies in national and international literature on the positive effects of positive changes in institutional structure on macroeconomic performance. In this study, it is aimed to examine the relationship between institutional structure and financial development with data from the period between 1995 and 2020 for Turkey. First, the Phillips Perron unit root test was applied to the analysis, and it was determined that the series contained a unit root. In order to determine the cointegration relationship, the Johansen cointegration test was applied, and it was determined that there was no cointegration between the series. VAR Analysis was applied to the series that were stationary in the first difference and did not have a cointegration relationship. It was concluded that financial development was positively affected by institutional quality and economic growth with the impact-response analyses and variance decomposition interpretations.

 Institutional quality has an impact on macroeconomic performance through shaping production and exchange activities. Evaluating the effects of institutional structure on the economy is important in determining government policies. Along with the importance given to economic growth, financial development attracts attention in terms of resource creation. There are many studies in national and international literature on the positive effects of positive changes in institutional structure on macroeconomic performance. In this study, it is aimed to examine the relationship between institutional structure and financial development with data from the period between 1995 and 2020 for Turkey. First, the Phillips Perron unit root test was applied to the analysis, and it was determined that the series contained a unit root. In order to determine the cointegration relationship, the Johansen cointegration test was applied, and it was determined that there was no cointegration between the series. VAR Analysis was applied to the series that were stationary in the first difference and did not have a cointegration relationship. It was concluded that financial development was positively affected by institutional quality and economic growth with the impact-response analyses and variance decomposition interpretations.

 Institutional quality has an impact on macroeconomic performance through shaping production and exchange activities. Evaluating the effects of institutional structure on the economy is important in determining government policies. Along with the importance given to economic growth, financial development attracts attention in terms of resource creation. There are many studies in national and international literature on the positive effects of positive changes in institutional structure on macroeconomic performance. In this study, it is aimed to examine the relationship between institutional structure and financial development with data from the period between 1995 and 2020 for Turkey. First, the Phillips Perron unit root test was applied to the analysis, and it was determined that the series contained a unit root. In order to determine the cointegration relationship, the Johansen cointegration test was applied, and it was determined that there was no cointegration between the series. VAR Analysis was applied to the series that were stationary in the first difference and did not have a cointegration relationship. It was concluded that financial development was positively affected by institutional quality and economic growth with the impact-response analyses and variance decomposition interpretations.

 Kurumsal yapı, üretim ve değişim faaliyetlerini biçimlendirmesi aracılığıyla makroekonomik performans üzerinde etkili olmaktadır. Kurumsal yapının ekonomi üzerinde etkilerinin değerlendirilmesi hükümet politikalarının belirlenmesinde önem arz etmektedir. Ekonomik büyümeye verilen önemle birlikte kaynak yaratılması açısından finansal gelişme konusu açısında dikkat çekmektedir. Kurumsal yapıdaki olumlu değişmelerin makroekonomik performans üzerinde olumlu etkisi olduğuna dair ulusal ve uluslararası literatürde çok sayıda çalışma bulunmaktadır. Bu çalışmada, kurumsal yapı ve finansal gelişme ilişkisi Türkiye için 1995-2020 yılları arasını kapsayan döneme ait verilerle incelemek amaçlanmıştır. Analize ilk olarak Phillips Perron birim kök testi uygulanmış, serilerin birim kök içerdiği tespit edilmiştir. Eşbütünleşme ilişkisini tespit etmek için Johansen eşbütünleşme testi uygulanmış ve seriler arasında eşbütünleşme bulunmadığı saptanmıştır. Birinci farkında durağan olan ve eşbütünleşme ilişkisi barındırmayan serilere VAR Analizi uygulanmıştır. Etki-tepki analizleri ve varyans ayrıştırması yorumlamaları ile finansal gelişmenin kurumsal kalite ve ekonomik büyümeden pozitif olarak etkilendiği sonucuna varılmıştır.

Makale detayları

RELATIONSHIP BETWEEN INSTITUTIONAL QUALITY AND FINANCIAL DEVELOPMENT: THE CASE OF TÜRKİYE

Yazarlar:

Fatih Yücel | Hilal Budak Biçer

Yayıncı:

Nigde Omer Halisdemir University

Ana Başlıklar:

Zaman Serileri Analizi | Kurumsal İktisat Teorisi

Dergi:

Niğde Ömer Halisdemir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi Vol.6 Issue 2, pp.290-303

Belge Tipi:

Makale

Yayın Tarihi:

12/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001336514

pISSN:

2687-5306

Institutıonal Quality

Financial Development

Türkiye

VAR AnalysisKurumsal Kalite

Finansal gelişme

Türkiye

VAR Analizi

Sayı

Makale detayları

Yazarlar: Fatih Yücel | Hilal Budak Biçer

Yayıncı: Nigde Omer Halisdemir University

Ana Başlıklar: Zaman Serileri Analizi | Kurumsal İktisat Teorisi

Dergi: Niğde Ömer Halisdemir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi Vol.6 Issue 2, pp.290-303

Belge Tipi: Makale

Yayın Tarihi: 12/2024

Belge Dili: Türkçe

Document ID (Org No.): 2001336514

pISSN: 2687-5306

Sayı

Yazarlar:

Fatih Yücel | Hilal Budak Biçer

Yayıncı:

Nigde Omer Halisdemir University

Ana Başlıklar:

Zaman Serileri Analizi | Kurumsal İktisat Teorisi

Dergi:

Niğde Ömer Halisdemir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi Vol.6 Issue 2, pp.290-303

Belge Tipi:

Makale

Yayın Tarihi:

12/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001336514

pISSN:

2687-5306