The Interaction Effect of Globalization and Human Capital on Economic Growth: The Case of Turkey

This study investigates the interaction effect of globalization and human capital on economicgrowth in Turkey. The autoregressive distributed lag (ARDL) bounds testing approach is appliedin the study, and the dataset covers the period 1984-2017. The results show that the impact ofglobalization on economic growth is conditional on the human capital level in Turkey. Thepositive effect of globalization on economic growth increases as the level of human capitalincreases. That is to say, there is a strong complementary relationship between globalization andhuman capital in terms of enhancing the economic growth in Turkey.

Küreselleşme ve Beşeri Sermayenin Ekonomik Büyüme Üzerindeki Etkileşim Etkisi: Türkiye Örneği

Bu çalışma, Türkiye’de küreselleşme ve beşeri sermayenin ekonomik büyüme üzerindeki etkileşim etkisini incelemektedir. Çalışmada gecikmesi dağıtılmış otoregresif (ARDL) sınır testi yöntemi uygulanmaktadır ve veri seti 1984-2017 dönemini kapsamaktadır. Elde edilen sonuçlar, Türkiye’de küreselleşmenin ekonomik büyüme üzerindeki etkisinin beşeri sermaye düzeyine bağlı olduğunu göstermektedir. Beşeri sermaye düzeyi arttıkça küreselleşmenin ekonomik büyüme üzerindeki pozitif etkisi artmaktadır. Yani, küreselleşme ve beşeri sermaye arasında ekonomik büyümeyi artırma açısından güçlü bir tamamlayıcılık ilişkisi bulunmaktadır.

PDF

___

Acemoğlu, D., Zilibotti, F. (1999). Productivity Differences. NBER Working Paper Series, No. 6879, 1-44.

Aghion, P., Howitt, P. (1992). A Model of Growth Through Creative Destruction. Econometrica, 60(2), 323-351.

Apaydın, Ş. (2019). Türkiye’de İktisadi Küreselleşmenin Büyüme Üzerindeki Yapısal ve Tarihsel Etkileri. Bitlis Eren Üniversitesi Akademik İzdüşüm Dergisi, 4(1), 1-27.

Apaydın, Ş. (2020). Küreselleşmenin Ekolojik Ayak İzi Üzerindeki Etkileri. Ekonomi, Politika & Finans Araştırmaları Dergisi, 5(1), 23-42.

Babatunde, A. (2011). Trade Openness, Infrastructure, FDI and Growth in Sub-Saharan African Countries. Journal of Management Policy, 12(7), 27-36.

Barro, R. (1991). Economic Growth in a Cross Section of Countries. NBER Working Paper Series, No. 3120, 1-25.

Benhabib, J., Spiegel, M. M. (1994). The Role of Human Capital in Economic Development: Evidence from Aggregate Cross-Country Data. Journal of Monetary Economics, 34, 143- 173.

Benarroch, M., Pandey, M. (2008). Trade Openness and Government Size. Economics Letters, 101, 157-159.

Bolaky, B., Freund, C. (2004). Trade, Regulations, and Growth. World Bank Policy Research Working Paper, No. 3255, 1-40.

Chen, P., Gupta, R. (2006). An Investigation of Openness and Economic Growth Using Panel Estimation. University of Pretoria Department of Economics Working Paper Series, 22, 1-26.

Chang, R., Kaltani, L., Loayza, N. (2005). The Role of Policy Complementarities. World Bank Policy Research Working Paper, No. 3763, 1-40.

Doğan, E. (2013). Are There Linkages between Different Types of Globalization and Economic Growth?. Advances in Applied Economics and Finance, 4(1), 678-685.

Eren, M. V., Çütcü, İ. (2018). Küreselleşmenin Ekonomik Büyümeye Etkisi: Türkiye Üzerine Ekonometrik Analiz. Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi, 6(1), 47-61.

Grossman, G. M., Helpman, E. (1991). Trade, Knowledge Spillovers, and Growth. European Economic Review, 35(2-3), 517-526.

Hanushek, E. A, Woessmann, L. (2020), Education, Knowledge Capital, and Economic Growth. In S. Bradley, C. Green (Eds), The Economics of Education: A Comprehensive Overview, 171-182.

Hye, Q. M. A. (2012). Long Term Effect of Trade Openness on Economic Growth in Case of Pakistan. Quality and Quantity, 46, 1137-1149.

İbrahim, M., Sare, Y. A. (2018). Determinants of Financial Development in Africa: How Robust Is the Interactive Effect of Trade Openness and Human Capital?. Economic Analysis and Policy, 60, 18-26.

Kneller, R., Morgan, C. W., Kanchanahatakij, S. (2008). Trade Liberalization and Economic Growth. The World Economy, 31(6), 701-719.

Law, S. H. (2009). Trade Openness, Capital Flows and Financial Development in Developing Economies. International Economic Journal, 23(3), 409-426.

Lucas, R. E. (1988). On the Mechanics of Economic Development. Journal of Monetary Economics, 22(1), 3-42.

Mankiw, G., Romer, D., Weil, D. (1992). A Contribution to the Empirics of Economic Growth. The Quarterly Journal of Economics, 107(2), 407-437.

Mayer, J. (2001). Globalization, Technology Transfer, and Skill Accumulation in Low-Income Countries. WIDER Discussion Paper, No: 39, 1-20.

Musila, J., Yiheyis, Z. (2015). The Impact of Trade Openness on Growth: The Case of Kenya. Journal of Policy Modelling, 37, 342-354.

Nonneman, W., Vanhoudt, P. (1996). A Further Augmentation of the Solow Model and the Empirics of Economic Growth for OECD Countries. The Quarterly Journal of Economics, 111(3), 943-953.

Özel, H. A. (2012). Küreselleşme Sürecinde Ticari ve Finansal Açıklığın Ekonomik Büyüme Üzerine Etkisi. Yönetim Bilimleri Dergisi, 10(19), 1-30.

Pesaran, M. H., Shin, Y., Smith, R. J. (2001). Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics, 16, 289-326.

Rao, B., Vadlamannatti, C. (2011). Globalization and Growth in the Low Income African Countries with Extreme Bounds Analysis. Economic Modelling, 28(3), 795-805.

Ramzan, M., Sheng, B., Fatima, S., Jiao, Z. (2019). Impact of FDI on Economic Growth in Developing Countries: Role of Human Capital. Seoul Journal of Economics, 32(3), 337- 360.

Rivas, M. G. (2007). The Effects of Trade Openness on Regional Inequality in Mexico. The Annals of Regional Science, 41, 545-561.

Rivera-Batiz, F.L (2018). The Economics of Technological Progress and Endogenous Growth in Open Economies. (Ed.: F. L. Rivera-Batiz and L. A. Rivera-Batiz), International Trade, Capital Flows and Economic Development, 105-138, Singapore: World Scientific.

Romer, P. M. (1989). Human Capital and Growth: Theory and Evidence. NBER Working Paper Series, No: 3173, 1-41.

Romer, P. M. (1990). Endogenous Technological Change. Journal of Political Economy, 98(5), 71-102.

Sakyi, D., Commodore, R., Opoku, E. E. O. (2015). Foreign Direct Investment, Trade Openness and Economic Growth in Ghana: An Empirical Investigation. Journal of African Business, 16(1-2), 1-15.

Samimi, P., Jenetabadi, H. S. (2014). Globalization and Economic Growth: Empirical Evidence on the Role of Complementarities. Plos One, 9(4), 1-7.

Shahbaz, M. (2012). Does Trade Openness Affect Long Run Growth? Cointegration, Causality and Forecast Error Variance Decomposition Tests for Pakistan. Economic Modelling, 29(6), 2325-2339.

Souklazis, E., Antunes, M. (2012). Foreign Trade, Human Capital and Economic Growth: An Empirical Approach for the European Union Countries. The Journal of International Trade and Economic Development, 21(1), 3-24.

Vandenbussche, J., Aghion, P., Meghir, C. (2006). Growth, Distance to Frontier and Composition of Human Capital. Journal of Economic Growth, 11(2), 97–127.

Vehapi, M., Sadiku, L., Petkovski, M. (2015). Empirical Analysis of the Effects of Trade Openness on Economic Growth: An Evidence for South East European Countries. Procedia Economics and Finance, 19, 17-26.