Fatma Ünlü

2046

Yükselen Piyasa Ekonomilerinde Finansal Gelişme ve Gelir Eşitsizliği İlişkisi: Yatay Kesit Bağımlılığı Altında Kurumların Moderatör Etkisi Üzerine Heterojen Panel Veri Analizi

Bu çalışma, yükselen piyasa ekonomileri için finansal gelişme ve gelir eşitsizliği arasındaki ilişkide kurumların moderatör etkisini araştırmayı amaçlamaktadır. Söz konusu ülkelerin 2002-2018 dönemi- ne ait verileri kullanılarak yatay kesit bağımlılığı altında heterojen panel veri analizine ilişkin prosedür takip edilmiştir. CCEMG tahmincisi kullanılarak yapılan analizlerden elde edilen bulgulara göre, uzun dönemde kaliteli kurumların gelir eşitsizliği üzerindeki etkisi pozitif iken, moderatör değişkenin etkisi ise negatiftir. Diğer taraftan, finansal gelişmenin gelir eşitsizliği üzerinde anlamlı bir etkisi bulunma- maktadır. Bu bulgular, finansal gelişmenin sadece kaliteli kurumların varlığı altında gelir eşitsizliğini azaltıcı etkilere sahip olduğunu göstermektedir. Bununla birlikte, Dumitrescu-Hurlin panel nedensellik test sonuçları da analize dahil edilen tüm değişkenler (finansal gelişme, gelir eşitsizliği, yolsuzluk ve moderatör değişken) arasındaki çift yönlü nedensellik ilişkilerini doğrulamaktadır.

The Relationship between Financial Development and Income Inequality in Emerging Market Economies: Heterogeneous Panel Data Analysis on Moderator Effect of Institutions under Cross-Sectional Dependence

This study aims to investigate the moderator effect of institutions on the relationship between financial development and income inequality for emerging market economies. Under cross-sectional dependence, the procedure for heterogeneous panel data analysis was followed by using the data of countries for the period 2002-2018. According to the findings obtained from the analyzes using the CCEMG estimator, while the effect of quality of institutions on income inequality is positive, the effect of the moderator variable is negative in the long run. On the other side, financial development does not have a significant effect on income inequality. These findings indicate that financial development has income inequality-reducing effects only under the presence of quality of institutions. Additionally, Dumitrescu-Hurlin panel causality test results confirm bidirectional causality relationships between all variables (financial development, income inequality, corruption and moderator variable) included in the analysis.
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BDDK Bankacılık ve Finansal Piyasalar Dergisi-Cover
  • ISSN: 1307-5705
  • Yayın Aralığı: Yıllık
  • Başlangıç: 2007
  • Yayıncı: Bankacılık Düzenleme ve Denetleme Kurumu
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