Burak BÜYÜKOĞLU, Ahmet ŞİT, Burcu BUYURAN

ÜLKELERDE REKABET-FİNANSAL GELİŞMİŞLİK İLİŞKİSİ: TÜRKİYE-BRICS ÜLKELERİ KARŞILAŞTIRMASI

Bu çalışmanın amacı rekabetin ülkelerin finansal gelişmişlikleri üzerine etkisini araştırmaktır. Bu amaçla çalışmada örneklem ülkeler olarak Türkiye ve BRICS (Brezilya, Rusya, Hindistan, Çin, Güney Afrika) ülkeleri seçilmiştir. Dönem olarak 2005-2021 yılları arası ülke verileri ile 17 yıllık veri seti oluşturulmuştur. Rekabet faktörü, Dünya Bankası tarafından yayınlanan Küresel Rekabet Endeksi verileri kullanılarak analize bağımsız değişken olarak dahil edilmiştir. Bağımlı değişken olarak da ülkelerin finansal gelişmişliklerini temsilen borsalarındaki en fazla işlem gören payların yer aldığı endeksler kullanılmıştır. Çalışmada yöntem olarak Westerlund Eşbütünleşme testi, AMG ve CCE Ortalama Grup Tahmincileri kullanılmıştır. Uygulanan analizler sonucunda örneklem ülkelerinin finansal gelişmişlikleri üzerine rekabetin pozitif ve anlamlı bir etkisi olduğu tespit edilmiştir.

Anahtar Kelimeler:

Rekabet, Finansal Gelişme, BRICS Ülkeleri ve Türkiye, Ortalama Grup Tahmincisi

RELATIONSHIP BETWEEN COMPETITION AND FINANCIAL DEVELOPMENT IN COUNTRIES: COMPARISON OF TURKEY-BRICS COUNTRIES

The purpose of this study is to examine the impact of competition on the financial development of countries. For this purpose, Turkey, and BRICS countries (Brazil, Russia, India, China, South Africa) were selected as sample countries for the study. A 17-year dataset was created with country data from 2005 to 2021 as the time period. The competitiveness factor is included in the analysis as an independent variable, using data from the Global Competitiveness Index published by the World Bank. The indices of the most traded stocks on the stock exchanges, which represent the financial performance of countries, were used as the dependent variable. The methods used in the study were the Westerlund cointegration test, Augmented Mean Group (AMG) estimation and Common Correlated Effects (CCE) estimation. The analyzes conducted showed that competition has a positive and significant impact on the financial performance of the sample countries.

Keywords:

Competition, Financial Development, BRICS Countries and Turkey, Estimators for Average Groups,

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