ANALYSIS OF THE RELATIONSHIP BETWEEN SOCIAL CAPITAL AND BUSINESS CYCLE VOLATILITY IN EUROPEAN UNION COUNTRIE

Yıl 2021, Sayı: 59, 359 - 374, 31.08.2021

Semih Çetin

https://doi.org/10.18070/erciyesiibd.889088

Öz

In recent years, there has been an increasing interest in the issue of social capital, which has
been discussed among the dynamics of growth and has taken its place in economic develeopment
literature. On the other hand, due to the negative effects of cyclical fluctuations on welfare and
growth, it is important to investigate all possible causes of these fluctuations. From this point of view,
the effect of social capital on economic performance emerges as an important research topic. In this
study, the relationship between social capital and cyclical fluctuations was investigated using the fully
modified least squares (FMOLS) method for a sample of 15 EU member countries between 1995 and
2017. As a result, the study provides evidence that there is a significant relationship between these
variables.

Anahtar Kelimeler

Social Capital, Bussiness Cycle Volatility, Panel Data Analysis (FMOLS)

AVRUPA BİRLİĞİ ÜLKELERİNDE SOSYAL SERMAYE VE KONJONKTÜREL DALGALANMALAR İLİŞKİSİNİN ANALİZİ

Öz

Son yıllarda, büyümenin dinamikleri arasında tartışılmaya başlanan ve kalkınma
literatüründe kendisine yer edinen sosyal sermaye konusuna yönelik ilgi artmaktadır. Diğer taraftan
konjonktürel dalgalanmaların refah ve büyüme üzerine olan olumsuz etkileri sebebiyle, bu
dalgalanmaların tüm olası sebeplerini araştırmak önemli görülmektedir. Bu açıdan bakıldığında,
sosyal sermayenin ekonomik performans üzerinde nasıl bir etki yarattığı önemli bir araştırma konusu
olarak karşımıza çıkmaktadır. Bu çalışmada 1995-2017 yılları arasında 15 AB üyesi ülkeden oluşan
bir örneklem için, sosyal sermaye ve konjonktürel dalgalanmalar arasındaki ilişki tam değiştirilmiş en
küçük kareler (FMOLS) yöntemiyle araştırılmıştır. Çalışmada, sosyal sermaye ile konjonktürel
dalgalanmalar arasında negatif ve istatistiki olarak anlamlı bir ilişki olduğuna dair kanıt bulunmuştur.

Anahtar Kelimeler

Sosyal Sermaye, Konjonktürel Dalgalanmalar, Panel Veri Analizi (FMOLS)

Kaynakça

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