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Feldstein-Horioka Hipotezinin AB-15 ve Turkiye Ekonomisi icin Sinanmasi: Yatay Kesit Bagimliligi Altinda Yapisal Kirilmali Dinamik Panel Veri Analizi

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  • Mehmet MERCAN

    () (Hakkari Universitesi, Iktisadi ve Idari Bilimler Fakultesi, Iktisat Bolumu)

Abstract

Yatirim ve tasarruflar ulkelerin surdurulebilir ekonomik buyumeyi saglayabilmelerinde onemli makroekonomik belirleyicilerdir. Yatirim-tasarruf iliskisi bircok calismaya konu olmakla birlikte Feldstein-Horioka (1980), yatirim-tasarruf iliskisini uluslararasi sermaye hareketliligi ile izah etmektedir. Sermaye hareketleri uzerinde kisitlamalarin oldugu durumda, yatirimlarin yurt ici tasarruflarla finanse edilecegini ve yatirimtasarruf iliskisinin guclu olacagini, aksi takdirde iliskinin olmayacagini ya da dusuk duzeyde olacagi savini one surmektedir. Bu calismada; Feldstein-Horioka (F-H) hipotezi, AB ulkeleri ve Turkiye Ekonomisi orneginde yapisal kirilmalari dikkate alan yeni nesil dinamik panel veri analizi ile sinanmistir. Analizde, herhangi bir ulkede meydana gelen bir makroekonomik sokun diger ulkeleri de etkileyecegi varsayimini yani yatay kesit bagimliligini dikkate alan birim kok ve es-butunlesme testleri uygulanmistir. Analiz sonucunda ulkelerin geneli icin yatirim-tasarruf serileri arasinda zayif es-butunlesme iliskisi elde edilmis ve bu ulkelerde F-H hipotezinin gecerli oldugu bulgusu elde edilmistir. Kisa donem analizinde ise tasarruflarin yatirimlari karsilama duzeyinin daha dusuk oldugu gorulmustur.

Suggested Citation

  • Mehmet MERCAN, 2014. "Feldstein-Horioka Hipotezinin AB-15 ve Turkiye Ekonomisi icin Sinanmasi: Yatay Kesit Bagimliligi Altinda Yapisal Kirilmali Dinamik Panel Veri Analizi," Ege Academic Review, Ege University Faculty of Economics and Administrative Sciences, vol. 14(2), pages 231-245.
  • Handle: RePEc:ege:journl:v:14:y:2014:i:2:p:231-245
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    References listed on IDEAS

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    Keywords

    Feldstein-Horioka hipotezi; tasarruf oranlari; yatirimlar; sermaye hareketleri; yatay kesit bagimliligi.;

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

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