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Measuring Multidimensional Growth in Turkey: Sustainable and Inclusive Economic Growth (sieg) Index

Author

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  • Demet Özocaklı

    (Gaziantep University)

Abstract

This study develops a multidimensional index that includes sustainability and inclusiveness as well as quantitative measures to assess türkiye's growth performance. The sustainable and inclusive economic growth (sieg) index brings together economic, social and sustainability indicators in a holistic framework. The index is built on ten variables, including education level, income inequality, labour force participation of women and youth, r&d expenditures, labour productivity and the share of renewable energy. The sieg index created by using principal component analysis was constructed with data covering the years 1992-2023. The results show that türkiye's long-term growth has faced significant disruptions in terms of sustainability and inclusiveness, with a more pronounced structural transformation emerging after 2010. The study suggests that growth policies should emphasise qualitative and inclusive approaches rather than focusing solely on gdp. The sieg index provides a powerful decision support tool for policymakers.

Suggested Citation

  • Demet Özocaklı, 2025. "Measuring Multidimensional Growth in Turkey: Sustainable and Inclusive Economic Growth (sieg) Index," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 40(124), pages 103-121, October.
    • Handle: RePEc:acc:malfin:v:40:y:2025:i:124:p:103-121
    DOI: https://doi.org/10.33203/mfy.1710133
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    References listed on IDEAS

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    2. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
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    Keywords

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    JEL classification:

    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation

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