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Journals / TİSK Akademi / 2016 / Cilt: 11 - Sayı: 21

Institutional Determinants of Financial Development: The Case of Transition Economies

Geçiş Ekonomilerinde Finansal Gelişmenin Kurumsal Belirleyicileri

PINAR HAYALOĞLU
SEYFETTİN ARTAN
Pages
70–87
DOI
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

According to the results obtained from the study in which ten different variables are used as an indicator of the institutional structure; indicators that represent the institutional structure such as socioeconomic conditions, religious tensions, law and order, ethnic tensions, investment profile, corruption, and democratic accountability are also important determinants of financial development in transition economies as well as economic indicators.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:It has long been emphasized that financial development is one of the major determinants of sustainable economic growth.
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Key Findings & Data:In the study, covering the 1995-2012 period, static panel data analysis is used.
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Conclusion & Impact:According to the results obtained from the study in which ten different variables are used as an indicator of the institutional structure; indicators that represent the institutional structure such as socioeconomic conditions, religious tensions, law and order, ethnic tensions, investment profile, corruption, and democratic accountability are also important determinants of financial development in transition economies as well as economic indicators.
🔬Design:Research Article
📍Scope:2012 Verileri
⚙️Variables:Domain Parameters

Abstract

It has long been emphasized that financial development is one of the major determinants of sustainable economic growth. However, a consensus on the determinants of financial development hasn't been reached yet. This study discusses the role of institutional factors in explaining the cross-country differences in financial development. For this purpose, the economic and institutional determinants of financial development for transition economies are investigated. In the study, covering the 1995-2012 period, static panel data analysis is used. According to the results obtained from the study in which ten different variables are used as an indicator of the institutional structure; indicators that represent the institutional structure such as socioeconomic conditions, religious tensions, law and order, ethnic tensions, investment profile, corruption, and democratic accountability are also important determinants of financial development in transition economies as well as economic indicators.

Özet

Finansal gelişmenin sürdürülebilir ekonomik büyümenin önemli belirleyicilerinden biri olduğu uzun zamandan beri vurgulanmaktadır. Ancak, finansal gelişmenin belirleyicilerinin neler olduğu konusunda henüz bir uzlaşma sağlanamamıştır. Bu çalışma, ülkelerarası finansal gelişmişlik farklılıklarını açıklamada kurumsal faktörlerin rolünü tartışmaktadır. Bu amaçla çalışmada, finansal gelişmenin ekonomik ve kurumsal belirleyicileri geçiş ekonomileri için araştırılmıştır. 1995-2012 dönemini kapsayan çalışmada statik panel veri analiz tekniği kullanılmıştır. Kurumsal yapının göstergesi olarak 10 farklı değişkenin kullanıldığı çalışmadan elde edilen sonuçlara göre; geçiş ekonomilerinde, ekonomik göstergelerin yanı sıra sosyoekonomik durum, dinsel gerilimler, kanun ve düzen, etnik gerilimler, yatırım profili, yolsuzluk ve demokratik sorumluluk gibi kurumsal yapıyı temsil eden göstergeler de finansal gelişmenin önemli birer belirleyicisi konumundadır.

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Cite This Article

HAYALOĞLU, P., ARTAN, S. (2016). Institutional Determinants of Financial Development: The Case of Transition Economies. TİSK Akademi, Cilt: 11 - Sayı: 21, 70–87. https://ajindex.com/articles/366587

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