FİNANSAL GELİŞME VE YOKSULLUĞUN AZALMASI ARASINDAKİ İLİŞKİ: AMPİRİK BİR İNCELEME

Bu çalışma, 1987Q1-2015Q2 dönemine ait çeyreklik verileri kullanarak Türkiye'de finansal gelişme, yoksulluk azalışı ve ekonomik büyüme arasındaki ilişkiyi incelemektedir. Çalışmada finansal gelişmenin ölçüsü olarak özel sektöre tahsis edilen kredilerin nominal gayrı safi yurtiçi hasılaya (GSYH) oranı kullanılmıştır. Yoksulluk azalışı ve ekonomik büyümeyi temsilen ise sırasıyla kişi başına özel tüketim harcamaları ve kişi başına reel gelir kullanılmıştır. Çalışmanın sonuçları, finansal gelişmenin kısa dönemde yoksulluk azalışı ve ekonomik büyümenin Granger nedeni olduğunu göstermektedir. Buna göre finansal gelişme, yoksulluk azalışını ve ekonomik büyümeyi tek yönlü olarak etkilemektedir. Ayrıca yoksulluk azalışı ile büyüme arasında iki yönlü nedensellik olduğu bulunmuştur. Çalışmanın ana bulguları, finansal gelişmenin yoksulluk azalışına doğrudan ve dolaylı olarak katkı yaptığını öne süren teoriyi desteklemektedir. Çalışmadan elde edilen bir diğer bulgu ise uzun dönemde finansal gelişme ile yoksulluğun azalması arasında eşbütünleşme olmadığıdır.

THE RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT AND POVERTY REDUCTION: AN EMPIRICAL INVESTIGATION

Using quarterly data between 1987Q1-2015Q2, this study investigates the relationship between financial development, poverty reduction and economic growth in Turkey. In the study, the ratio of private credit to nominal gross domestic product (GDP) is used as a measure of financial development. As proxies for poverty reduction and growth, private consumption per capita and real GDP per capita are also employed respectively. The results of the study show that financial development Granger causes poverty reduction and economic growth in the short run. According to the finding, financial development unidirectionally affects poverty reduction and economic growth. It is also found that there is bidirectional causality between poverty reduction and growth. Main findings of the study support the theory that financial development contribute poverty reduction either directly or indirectly. Another finding from the study is that in the long run there is no cointegration between financial development and poverty reduction.

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