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Finansallaşma Süreci ve Sonuçları: G8 Ülkeleri Örneği

Author

Listed:
  • Afşar, Muharrem

    (Anadolu University/Economics, Eskisehir, Turkey)

  • Meçik, Oytun

    (Usak University/Economics, Usak, Turkey)

Abstract

1980’lerden sonra ABD Hazinesi, IMF ve Dünya Bankası’nın güç birliğiyle oluşturulan Washington Konsensüsü ile Neo-Liberal iktisat politikalarının ortaya çıkardığı paradigma, piyasa mekanizmasını hakim sistem haline getirmiştir. Dünya ekonomisinde izlenen bu politikalar ve yaşanan küreselleşme süreci, “ulusal ve uluslararası ekonomilerin işlemlerinde finansal güdülerin, finansal aktörlerin ve finansal piyasaların artan rolü” olarak tanımlanan finansallaşma kavramını ön plana çıkarmıştır. Finansallaşma ile kapitalizmin ağırlık merkezi üretimden finansa kaymış, finansal sermaye birikimi baskın hale gelmiş ve yerel piyasalar uluslararası sermaye hareketlerine açılmıştır. Böylece finansal piyasaların, kurumların ve işlemlerin boyutu, başta gelişmiş ülkeler olmak üzere, dünya ülkelerinin tümünde önemli bir artış göstermiştir. Bu çalışma ile finansallaşma süreci, G8 ülkeleri için 19 yıllık bir döneme (1990-2008) ilişkin verilerle incelenmiştir. Finansallaşmanın GSYH ve istihdam üzerindeki etkileri panel veri modelleri ile analiz edilmiştir. Bulgular; finansallaşma göstergeleri ile GSYH ve toplam istihdam arasında önemli bir ilişkinin söz konusu olduğunu göstermektedir.

Suggested Citation

  • Afşar, Muharrem & Meçik, Oytun, 2013. "Finansallaşma Süreci ve Sonuçları: G8 Ülkeleri Örneği," EY International Congress on Economics I (EYC2013), October 24-25, 2013, Ankara, Turkey 207, Ekonomik Yaklasim Association.
    • Handle: RePEc:eyd:cp2013:207
    Note: [English Title] Financialization Process and the Outcomes: The Case of G8 Countries [English Abstract] After 1980s, the neo-liberal economic policies of the Washington Consensus paradigm revealed by the market mechanism has become the dominant system. The globalization process of the world economy and the policies, highlighted the concept of financialization. The balance shifted from production to finance in the financialization process and financial capital accumulation has become dominant and, local markets were opened to international capital flows. Thus the financial markets, the size of the institutions and processes have shown a significant increase in all of the world, particularly in the developed countries. In this study, the process of financialization in the G8 countries were examined for a period of 19 years (1990-2008). The effects of financialization on GDP and employment have been analyzed by using panel data models. Findings suggest that there are important impacts of financial sector on GDP and total employment. [English Keywords] Financialization, Financial sector, Employment, GDP.
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    More about this item

    Keywords

    Finansallaşma; Finansal Sektör; İstihdam; GSYH.;
    All these keywords.

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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