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Journals / İşletme ve Ekonomi Araştırmaları Dergisi / 2018 / Cilt: 9 - Sayı: 1

The Impact of Financial Instablity on Economic Growth: BRICT Economies

Finansal İstikrarsızlığın Ekonomik Büyüme Üzerindeki Etkisi: BRICT Ekonomileri

Filiz ERATAŞ SÖNMEZ
Doğan UYSAL
Pages
25–48
Publication Date
2022-10-18
DOI
—
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AI Summary & Key Takeaways

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

The empirical findings of the study support the hypothesis which suggest that financial instability has adverse effects on economic growth.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The aim of this study is to investigate the impact of financial instability on economic growth.
📊
Key Findings & Data:Depart from the hypothesis that financial instability affects economic growth negatively, firstly the definition of instability is made and then focused on the causes of instability to understand a conceptual framework better.
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Conclusion & Impact:The empirical findings of the study support the hypothesis which suggest that financial instability has adverse effects on economic growth.
🔬Design:Modeling & Simulation
📍Scope:Comprehensive Sample
⚙️Variables:Domain Parameters

Abstract

The aim of this study is to investigate the impact of financial instability on economic growth. Depart from the hypothesis that financial instability affects economic growth negatively, firstly the definition of instability is made and then focused on the causes of instability to understand a conceptual framework better. In this study, non - stationary dynamic panel data analysis has been used to analyze not only examine the heterogeneity of the variables but also to consider cross-section dependency between cross section units. The second-generation panel unit root tests are utilized in this model, the long-term regression coefficients have been estimated and panel causality analysis is used to determine the direction of the causality relationship between the economic growth and financial instability. The empirical findings of the study support the hypothesis which suggest that financial instability has adverse effects on economic growth.

Özet

Bu çalışmanın amacı, finansal istikrarsızlığın ekonomik büyüme üzerindeki etkisini incelemektir. Finansalistikrarsızlığın ekonomik büyümeyi olumsuz etkilediği hipotezinden hareketle, öncelikle finansal istikrarsızlığın tanımıyapılmış, ardından kavramsal çerçevenin daha iyi açıklanabilmesi için finansal istikrarsızlığın nedenleri üzerindedurulmuştur. Durağan olmayan dinamik panel veri analizinin kullanıldığı çalışmada, değişkenlerin öncelikle heterojenolup olmadıkları incelenmiş ardından değişkenlere ilişkin yatay kesit bağımlılığı araştırılmıştır. İkinci nesil panel birim köktestlerinden yararlanılan bu modelde, uzun dönem regresyon katsayısı tahmin edilmiş ve finansal istikrarsızlık ileekonomik büyüme arasındaki nedensellik ilişkinin yönünün belirlenmesi amacıyla panel nedensellik analizindenyararlanılmıştır. Elde edilen ampirik bulgular, finansal istikrarsızlığın ekonomik büyümeyi olumsuz etkilediği hipotezinidesteklemektedir.

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Cite This Article

SÖNMEZ, F. E., UYSAL, D. (2022). The Impact of Financial Instablity on Economic Growth: BRICT Economies. İşletme ve Ekonomi Araştırmaları Dergisi, Cilt: 9 - Sayı: 1, 25–48. https://ajindex.com/articles/556452

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