Do Financial Indicators Affect Good Governance in Emerging and Growth-Leading Economies?

Güven Güney

Makale detayları

Do Financial Indicators Affect Good Governance in Emerging and Growth-Leading Economies?

Yazarlar:

Güven Güney

Yayıncı:

Bolu Abant Izzet Baysal University

Dergi:

Abant Sosyal Bilimler Dergisi Vol.23 Issue 1, pp.518-525

Belge Tipi:

Makale

Yayın Tarihi:

3/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001286783

pISSN:

2757-9425

Anahtar kelimeler:

Özet:

 Recently, besides the word management, the terms governance and good governance are frequently used in the economics literature. Lack of good governance is recognized as one of the main causes of problems to arise in poorly managed societies. So much so that good governance reforms are sought when providing loans and aids from international financial institutions to donors. It is important to implement good governance for sustainable development. For this reason, the effect of financial indicators on good governance has been examined in this study. Analyzes were conducted for the panel, in which the World Good Governance Index was the dependent variable between 2002-2020 in selected EAGLEs countries. Firstly, the cross-section dependency test and then the Delta test were applied. The findings showed that there is cross-section dependence and heterogeneity in the panel used. Then, CADF-CIPS test, which is one of the second generation unit root tests, was performed. It has been observed that the series are stationary at different orders. The cointegration relationship was investigated by Westerlund 2008 Durbin-Hausmann Test. The coefficients for the cointegrated series were estimated by the CCE method. The results showed that the increase in portfolio investments had a positive effect on good governance, while inflation had a negative effect. On the other hand, country-specific findings were determined in the variables of interest, financial depth and per capita income.

 Recently, besides the word management, the terms governance and good governance are frequently used in the economics literature. Lack of good governance is recognized as one of the main causes of problems to arise in poorly managed societies. So much so that good governance reforms are sought when providing loans and aids from international financial institutions to donors. It is important to implement good governance for sustainable development. For this reason, the effect of financial indicators on good governance has been examined in this study. Analyzes were conducted for the panel, in which the World Good Governance Index was the dependent variable between 2002-2020 in selected EAGLEs countries. Firstly, the cross-section dependency test and then the Delta test were applied. The findings showed that there is cross-section dependence and heterogeneity in the panel used. Then, CADF-CIPS test, which is one of the second generation unit root tests, was performed. It has been observed that the series are stationary at different orders. The cointegration relationship was investigated by Westerlund 2008 Durbin-Hausmann Test. The coefficients for the cointegrated series were estimated by the CCE method. The results showed that the increase in portfolio investments had a positive effect on good governance, while inflation had a negative effect. On the other hand, country-specific findings were determined in the variables of interest, financial depth and per capita income.

 Recently, besides the word management, the terms governance and good governance are frequently used in the economics literature. Lack of good governance is recognized as one of the main causes of problems to arise in poorly managed societies. So much so that good governance reforms are sought when providing loans and aids from international financial institutions to donors. It is important to implement good governance for sustainable development. For this reason, the effect of financial indicators on good governance has been examined in this study. Analyzes were conducted for the panel, in which the World Good Governance Index was the dependent variable between 2002-2020 in selected EAGLEs countries. Firstly, the cross-section dependency test and then the Delta test were applied. The findings showed that there is cross-section dependence and heterogeneity in the panel used. Then, CADF-CIPS test, which is one of the second generation unit root tests, was performed. It has been observed that the series are stationary at different orders. The cointegration relationship was investigated by Westerlund 2008 Durbin-Hausmann Test. The coefficients for the cointegrated series were estimated by the CCE method. The results showed that the increase in portfolio investments had a positive effect on good governance, while inflation had a negative effect. On the other hand, country-specific findings were determined in the variables of interest, financial depth and per capita income.

 Son zamanlarda yönetim kelimesinin yanı sıra yönetişim ve iyi yönetişim terimleri ekonomi literatüründe sıklıkla kullanılmaktadır. İyi yönetilmeyen toplumlarda ortaya için sorunların temel nedenlerinden biri olarak iyi yönetişim eksikliği kabul edilmektedir. Öyle ki uluslararası finans kuruluşlarından bağışçılara kadar krediler ve yardımlar verilirken iyi yönetişim reformlarının varlığı aranmaktadır. Sürdürülebilir kalkınma için iyi yönetişimi hayata geçirmek önemlidir. Bu sebeple çalışmada finansal göstergelerin iyi yönetişime etkisi incelenmiştir. Seçilmiş EAGLEs ülkelerinde 2002-2020 aralığında Dünya İyi Yönetişim Endeksinin bağımlı değişken olduğu panel için analizler yapılmıştır. İlk olarak yatay kesit bağımlılığı sınaması ve daha sonra Delta testi uygulanmıştır. Bulgular kullanılan panelde yatay kesit bağımlılığı ve heterojenlik olduğunu göstermiştir. Daha sonra ikinci kuşak birim kök testlerinden CADF-CIPS testi yapılmıştır. Serilerin farklı dereceden durağan olduğu görülmüştür. Eşbütünleşme ilişkisi Westerlund 2008 Durbin-Hausmann Testiyle araştırılmıştır. Eşbütünleşik seriler için katsayılar CCE metodu ile tahmin edilmiştir. Sonuçlar portföy yatırımlarındaki artışın iyi yönetim üzerinde pozitif, enflasyonun ise negatif etkili olduğunu göstermiştir. Faiz, finansal derinlik ve kişi başına düşen gelir değişkenlerinde ise ülkeye özgü bulgular tespit edilmiştir.

Makale detayları

Do Financial Indicators Affect Good Governance in Emerging and Growth-Leading Economies?

Yazarlar:

Güven Güney

Yayıncı:

Bolu Abant Izzet Baysal University

Dergi:

Abant Sosyal Bilimler Dergisi Vol.23 Issue 1, pp.518-525

Belge Tipi:

Makale

Yayın Tarihi:

3/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001286783

pISSN:

2757-9425

Finance

Governance

Panel Data Analysis

Finans

İyi Yönetişim

Panel Veri Analizi

Sayı

Makale detayları

Do Financial Indicators Affect Good Governance in Emerging and Growth-Leading Economies?

Yazarlar: Güven Güney

Yayıncı: Bolu Abant Izzet Baysal University

Dergi: Abant Sosyal Bilimler Dergisi Vol.23 Issue 1, pp.518-525

Belge Tipi: Makale

Yayın Tarihi: 3/2023

Belge Dili: Türkçe

Document ID (Org No.): 2001286783

pISSN: 2757-9425

Finance

Governance

Panel Data Analysis

Finans

İyi Yönetişim

Panel Veri Analizi

Sayı

Yazarlar:

Güven Güney

Yayıncı:

Bolu Abant Izzet Baysal University

Dergi:

Abant Sosyal Bilimler Dergisi Vol.23 Issue 1, pp.518-525

Belge Tipi:

Makale

Yayın Tarihi:

3/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001286783

pISSN:

2757-9425