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THE EFFECTS OF ECONOMIC COMPLEXITY, EXPORT AND FIXED CAPITAL INVESTMENTS ON INCOME PER CAPITA: THE CASE OF G-20 COUNTRIES

Yıl 2019, Cilt: 6 Sayı: 2, 393 - 407, 29.08.2019
https://doi.org/10.30798/makuiibf.518334

Öz

In today's world economy, where the composition
of exports has gained importance rather than the size of export volumes of
countries, how sophisticated products a country produces and exports indicates
the complexity level of that country. In this study, the effects of economic
complexity index, export and gross fixed capital formation variables on per
capita income are analyzed for 18 countries in the G-20 community. The findings
of the study reveals positive impact of economic complexity index on per capita
income for Brazil, China, Germany, Indonesia, Japan, Mexico, South Korea,
Turkey and the US while revealing negative impact for Argentina, Australia,
Canada, Saudi Arabia and the United Kingdom. Brazil is the only country
differentiates from the other countries in the sense of having the increasing
export share of primary products (raw materials and intermediate goods) while
having decreasing export share of manufactured products and also in the sense
of having positive significant relationship between the economic complexity
level and per capita income.

Kaynakça

  • AGENOR, P. R. ve CANUTO, O. (2015), Middle-Income Growth Traps, Research in Economics, 69, 641-660.
  • BREUER, J.B., MCNOWN, R. ve WALLACE, M. (2002), Series-specific Unit Root Tests with Panel Data, Oxford Bulletin of Economics and Statistics, 64 (5), 527-546.
  • CHERIF, R. ve HASANOV, F. (2015), The Leap of the Tiger: How Malaysia Can Escape the Middle-Income Trap, IMF Working Paper, No: WP/15/131.
  • COŞKUN, N., LOPCU, K. ve TUNCER, İ. (2018), The Economic Complexity Approach to Development Policy: Where Turkey Stands in Comparison to OECD plus China?, Proceedings of Middle East Economic Association, 20 (1), 112-124.
  • DEMİR, O. (2017), Does High Tech Exports Really Matter for Economic Growth?, Online Academic Journal of Information Technology, 9 (30), 43-54.
  • FELIPE, J., ABDON, A. ve KUMAR, U. (2012), Tracking the Middle-income Trap: What Is It, Who Is in It, and Why?, Levy Economics Institute Working Paper, No: 715.
  • FELIPE, J. (2012), Tracking the Middle-Income Trap: What is It, Who is in It, and Why?, Asian Development Bank Economics Working Paper Series, No. 307.
  • FERRAZ, D., H. F.MORALLES, J.S.CAMPOLI, F.C.RIBERIO de OLIVIERA ve D. APARECIDA do NASCIMENTO REBELATTO. (2018), Economic Complexity and Human Development: DEA Performance Measurement in Asia and Latin America, Complexidade Economica e Desenvolvimento Humano: uma analize a partir do DEA.
  • FORTUNATO, P. ve RAZO, C. (2014), Export Sophistication, Growth and the Middle-Income Trap, Transforming Economies – Making Industrial Policy Work for Growth, Jobs and Development, ILO, 267-287.
  • GARRETT, G. (2004), Globalization’s Missing Middle, 14.08.2018 tarihinde https://yaleglobal.yale.edu/content/globalizations-missing-middle adresinden alındı.
  • HARTMANN, D., GUEVARA, M.R., FIGUEROA, C.J., ARISTARAN, M. ve HIDALGO, C.A., (2017), Linking Economic Complexity, Institutions and Income Inequality, World Development 93, s.75-93.
  • HAUSMANN, R., HIDALGO, C.A., BUSTOS, S., COSCIA, M., CHUNG, S., JIMENEZ, J., SIMOES, A. ve YILDIRIM, M.A. (2011). The Atlas of Economic Complexity Mapping Paths to Prosperity, Center for International Development at Harvard University, 26.12.2018 tarihinde https://atlas.media.mit.edu/static/pdf/atlas/AtlasOfEconomicComplexity_Part_I.pdf adresinden alındı.
  • HIDALGO, C. A. (2009), The Dynamics of Economic Complexity and the Product Space over a 42 Year Period, Center for International Development at Harvard University, CID Working Paper, No: 189.
  • HIDALGO, C. A., ve HAUSMANN, R. (2009), The building blocks of economic complexity, Proceedings of the national academy of sciences, 106 (26), 10570-10575.
  • HSIAO, C. ve PESARAN, M.H. (2004), Random Coefficient Panel Data Models, IZA Discussion Paper, No. 1236.
  • INOMATA, S. (2017), Analytical Framework for Global Value Chains: An Overvew, Measuring and Analyzing the Impact of GVCs on Economic Development, Global Value Cahin Development Report 2017, The World Bank, pp. 15-35.
  • INOUA, Sabiou (2016), A Simple Measure of Economic Complexity, 26.12.2018 tarihinde https://arxiv.org/abs/1601.05012 adresinden alındı.
  • JANKOWSKA, A., NAGENGAST, A. ve PEREA, J.R. (2012), The Product Space and the Middle-Income Trap: Comparing Asian and Latin American Experiences, OECD Development Centre Working Paper, No: 311.
  • JILL, I. ve KHARAS, H. (2007), The Unfolding of a Renaissance, An East Asian Renaissance Ideas for Economic Growth, The World Bank.
  • JINN, B.C.W. ve SHUHAIMEN, M.S. (2018), Complexity and Growth: Malaysia’s Position and PolicyImplications, Central Bank of Malaysia Economics Department.
  • KOCENDA, E. ve POGHOSYAN, K. (2017), Export Sophistication: A Dynamic Panel Data Approach, Kyoto Institute of Economic Research Discussion Paper, No:980.
  • PAN, C., CHANG, T. ve WOLDE-RUFAEL, Y. (2015), Military Spending and Economic Growth in the Middle East Countries: Bootstrap Panel Causality Test, Defence and Peace Economics, 26 (24), 443-456.
  • PESARAN, M. H. (2004), General Diagnostic Tests for Cross Section Dependence in Panels, CWPE, 0435.
  • POI, B.P. (2003), From the Help Desk: Swamy’s Random-Coefficient Model, The Stata Journal, 3 (3), 302-308.
  • PRUCHNIK, K. ve ZOWCZAK, J. (2017), Middle-Income Trap: Review of the Conceptual Framework, ADBI Working Paper Series, 760.
  • REEL, Y. (2010), Mekanizma Tasarımı Teorisi ve Uygulamaları, Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi, 28(1), 57-70.
  • ŠKARE, M. ve SINKOVIC, D. (2012), Equipment Investments and Growth Nexus – Evidence From Socialist and Transition Croatia, Technological and Economic Development of Economy, 18 (3), 504-528, doi:10.3846/20294913.2012.705253.
  • ŠKARE, M. ve TOMIC, D. (2014), Examining the Link Between Innovation, Productivity and Growth: a Global View, Amfiteatru Economic Journal, 16 (36), 606-624.
  • STOJKOSKI, V. ve KOCAREV, L. (2017), The Relationship Between Growth and Economic Complexity and Economic Complexity: Evidence from Southeastern and Central Europe, MPRA, No. 77837.
  • SWAMY, P.A.V.B. (1970), Efficient Inference in a Random Coefficient Regression Model, Econometrica, 38 (2) : 311-323.
  • TAYLOR, M.P. ve SARNO, L. (1998), The Behavior of Real Exchange Rates During the Post-Bretton Woods Period, Journal of International Economics, 46: 281-312.
  • WACKER, K. M., GROSSKURTH, P., ve LAKEMANN, T. (2016), Foreign Direct Investment, Terms of Trade, and Quality Upgrading: What Is So Special about South Asia?, Asian Development Review, 33(1), 28-55.
  • WOO, W.T. (2012), China Meets the Middle-Income Trap: The Large Potholes in The Road to Catching-Up, Journal of Chinese Economic and Business Studies, 10 (4): 313-336.
  • YELDAN, E., TAŞÇI, K., VOYVODA, E. ve ÖZSAN, M.E. (2012), Orta Gelir Tuzağından Çıkış: Hangi Türkiye, Türkonfed, Sis Matbaacılık, İstanbul.
  • YERDELEN TATOĞLU, F. (2013), İleri Panel Veri Analizi Stata Uygulamalı, 2. baskı, Beta, İstanbul.
  • YILMAZ, G. (2014), Turkish Middle Income Trap and Less Skilled Human Capital, TCMB Working Paper, No: 14/30.
  • http://trade.ec.europa.eu/doclib/docs/2007/june/tradoc_134826.pdf (30.11.2018).
  • https://comtrade.un.org/data/ (30.11.2018).
  • http://www.tarim.com.tr/Petrol-zengini-Brezilya-da-en-degerli-sektor-TARIM,36y (5.12.2018).

EKONOMİK KOMPLEKSİTE, İHRACAT VE SABİT SERMAYE YATIRIMLARININ KİŞİ BAŞINA DÜŞEN GELİR ÜZERİNDEKİ ETKİSİ: G-20 ÜLKELERİ ÖRNEĞİ

Yıl 2019, Cilt: 6 Sayı: 2, 393 - 407, 29.08.2019
https://doi.org/10.30798/makuiibf.518334

Öz

Ülkelerin ihracat hacimlerinin büyüklüğünden
ziyade, ihracatın kompozisyonunun önem kazandığı günümüz dünya ekonomisinde,
ülkelerin ne denli sofistike ürünler ürettikleri ve ihraç ettikleri o
ekonominin kompleksite derecesini göstermektedir. Bu çalışmada G-20
topluluğundaki 18 ülke çerçevesinde; ekonomik kompleksite indeksi, ihracat ve
sabit sermaye yatırımı değişkenlerinin kişi başına düşen gelir üzerindeki
etkisi incelenmektedir. Analiz sonuçları Brezilya, Çin, Almanya, Endonezya,
Japonya, Meksika, Güney Kore, Türkiye ve ABD için ekonomik kompleksite
indeksinin kişi başına düşen gelir üzerinde pozitif etkiye sahip olduğu bir
ilişki ortaya koyarken; Arjantin, Avustralya, Kanada, Suudi Arabistan ve
Birleşik Krallık için negatif etkiye sahip bir ilişki ortaya koymaktadır.
Brezilya hammadde ve ara mal niteliğindeki birincil ürünlerde ihracat payı
artarken mamul ürünlerde ihracat payı azalan, buna karşılık ekonomik
kompleksite düzeyi ile kişi başına düşen gelir arasında pozitif anlamlı ilişki
elde edilen ve böylece diğer ülkelerden ayrışan tek ülke olma özelliği
taşımaktadır.

Kaynakça

  • AGENOR, P. R. ve CANUTO, O. (2015), Middle-Income Growth Traps, Research in Economics, 69, 641-660.
  • BREUER, J.B., MCNOWN, R. ve WALLACE, M. (2002), Series-specific Unit Root Tests with Panel Data, Oxford Bulletin of Economics and Statistics, 64 (5), 527-546.
  • CHERIF, R. ve HASANOV, F. (2015), The Leap of the Tiger: How Malaysia Can Escape the Middle-Income Trap, IMF Working Paper, No: WP/15/131.
  • COŞKUN, N., LOPCU, K. ve TUNCER, İ. (2018), The Economic Complexity Approach to Development Policy: Where Turkey Stands in Comparison to OECD plus China?, Proceedings of Middle East Economic Association, 20 (1), 112-124.
  • DEMİR, O. (2017), Does High Tech Exports Really Matter for Economic Growth?, Online Academic Journal of Information Technology, 9 (30), 43-54.
  • FELIPE, J., ABDON, A. ve KUMAR, U. (2012), Tracking the Middle-income Trap: What Is It, Who Is in It, and Why?, Levy Economics Institute Working Paper, No: 715.
  • FELIPE, J. (2012), Tracking the Middle-Income Trap: What is It, Who is in It, and Why?, Asian Development Bank Economics Working Paper Series, No. 307.
  • FERRAZ, D., H. F.MORALLES, J.S.CAMPOLI, F.C.RIBERIO de OLIVIERA ve D. APARECIDA do NASCIMENTO REBELATTO. (2018), Economic Complexity and Human Development: DEA Performance Measurement in Asia and Latin America, Complexidade Economica e Desenvolvimento Humano: uma analize a partir do DEA.
  • FORTUNATO, P. ve RAZO, C. (2014), Export Sophistication, Growth and the Middle-Income Trap, Transforming Economies – Making Industrial Policy Work for Growth, Jobs and Development, ILO, 267-287.
  • GARRETT, G. (2004), Globalization’s Missing Middle, 14.08.2018 tarihinde https://yaleglobal.yale.edu/content/globalizations-missing-middle adresinden alındı.
  • HARTMANN, D., GUEVARA, M.R., FIGUEROA, C.J., ARISTARAN, M. ve HIDALGO, C.A., (2017), Linking Economic Complexity, Institutions and Income Inequality, World Development 93, s.75-93.
  • HAUSMANN, R., HIDALGO, C.A., BUSTOS, S., COSCIA, M., CHUNG, S., JIMENEZ, J., SIMOES, A. ve YILDIRIM, M.A. (2011). The Atlas of Economic Complexity Mapping Paths to Prosperity, Center for International Development at Harvard University, 26.12.2018 tarihinde https://atlas.media.mit.edu/static/pdf/atlas/AtlasOfEconomicComplexity_Part_I.pdf adresinden alındı.
  • HIDALGO, C. A. (2009), The Dynamics of Economic Complexity and the Product Space over a 42 Year Period, Center for International Development at Harvard University, CID Working Paper, No: 189.
  • HIDALGO, C. A., ve HAUSMANN, R. (2009), The building blocks of economic complexity, Proceedings of the national academy of sciences, 106 (26), 10570-10575.
  • HSIAO, C. ve PESARAN, M.H. (2004), Random Coefficient Panel Data Models, IZA Discussion Paper, No. 1236.
  • INOMATA, S. (2017), Analytical Framework for Global Value Chains: An Overvew, Measuring and Analyzing the Impact of GVCs on Economic Development, Global Value Cahin Development Report 2017, The World Bank, pp. 15-35.
  • INOUA, Sabiou (2016), A Simple Measure of Economic Complexity, 26.12.2018 tarihinde https://arxiv.org/abs/1601.05012 adresinden alındı.
  • JANKOWSKA, A., NAGENGAST, A. ve PEREA, J.R. (2012), The Product Space and the Middle-Income Trap: Comparing Asian and Latin American Experiences, OECD Development Centre Working Paper, No: 311.
  • JILL, I. ve KHARAS, H. (2007), The Unfolding of a Renaissance, An East Asian Renaissance Ideas for Economic Growth, The World Bank.
  • JINN, B.C.W. ve SHUHAIMEN, M.S. (2018), Complexity and Growth: Malaysia’s Position and PolicyImplications, Central Bank of Malaysia Economics Department.
  • KOCENDA, E. ve POGHOSYAN, K. (2017), Export Sophistication: A Dynamic Panel Data Approach, Kyoto Institute of Economic Research Discussion Paper, No:980.
  • PAN, C., CHANG, T. ve WOLDE-RUFAEL, Y. (2015), Military Spending and Economic Growth in the Middle East Countries: Bootstrap Panel Causality Test, Defence and Peace Economics, 26 (24), 443-456.
  • PESARAN, M. H. (2004), General Diagnostic Tests for Cross Section Dependence in Panels, CWPE, 0435.
  • POI, B.P. (2003), From the Help Desk: Swamy’s Random-Coefficient Model, The Stata Journal, 3 (3), 302-308.
  • PRUCHNIK, K. ve ZOWCZAK, J. (2017), Middle-Income Trap: Review of the Conceptual Framework, ADBI Working Paper Series, 760.
  • REEL, Y. (2010), Mekanizma Tasarımı Teorisi ve Uygulamaları, Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi, 28(1), 57-70.
  • ŠKARE, M. ve SINKOVIC, D. (2012), Equipment Investments and Growth Nexus – Evidence From Socialist and Transition Croatia, Technological and Economic Development of Economy, 18 (3), 504-528, doi:10.3846/20294913.2012.705253.
  • ŠKARE, M. ve TOMIC, D. (2014), Examining the Link Between Innovation, Productivity and Growth: a Global View, Amfiteatru Economic Journal, 16 (36), 606-624.
  • STOJKOSKI, V. ve KOCAREV, L. (2017), The Relationship Between Growth and Economic Complexity and Economic Complexity: Evidence from Southeastern and Central Europe, MPRA, No. 77837.
  • SWAMY, P.A.V.B. (1970), Efficient Inference in a Random Coefficient Regression Model, Econometrica, 38 (2) : 311-323.
  • TAYLOR, M.P. ve SARNO, L. (1998), The Behavior of Real Exchange Rates During the Post-Bretton Woods Period, Journal of International Economics, 46: 281-312.
  • WACKER, K. M., GROSSKURTH, P., ve LAKEMANN, T. (2016), Foreign Direct Investment, Terms of Trade, and Quality Upgrading: What Is So Special about South Asia?, Asian Development Review, 33(1), 28-55.
  • WOO, W.T. (2012), China Meets the Middle-Income Trap: The Large Potholes in The Road to Catching-Up, Journal of Chinese Economic and Business Studies, 10 (4): 313-336.
  • YELDAN, E., TAŞÇI, K., VOYVODA, E. ve ÖZSAN, M.E. (2012), Orta Gelir Tuzağından Çıkış: Hangi Türkiye, Türkonfed, Sis Matbaacılık, İstanbul.
  • YERDELEN TATOĞLU, F. (2013), İleri Panel Veri Analizi Stata Uygulamalı, 2. baskı, Beta, İstanbul.
  • YILMAZ, G. (2014), Turkish Middle Income Trap and Less Skilled Human Capital, TCMB Working Paper, No: 14/30.
  • http://trade.ec.europa.eu/doclib/docs/2007/june/tradoc_134826.pdf (30.11.2018).
  • https://comtrade.un.org/data/ (30.11.2018).
  • http://www.tarim.com.tr/Petrol-zengini-Brezilya-da-en-degerli-sektor-TARIM,36y (5.12.2018).
Toplam 39 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Araştırma Makaleleri
Yazarlar

Semanur Soyyiğit 0000-0002-5679-6875

Hüseyin Topuz 0000-0002-9806-3784

Halil Özekicioğlu 0000-0003-4499-0168

Yayımlanma Tarihi 29 Ağustos 2019
Gönderilme Tarihi 27 Ocak 2019
Yayımlandığı Sayı Yıl 2019 Cilt: 6 Sayı: 2

Kaynak Göster

APA Soyyiğit, S., Topuz, H., & Özekicioğlu, H. (2019). EKONOMİK KOMPLEKSİTE, İHRACAT VE SABİT SERMAYE YATIRIMLARININ KİŞİ BAŞINA DÜŞEN GELİR ÜZERİNDEKİ ETKİSİ: G-20 ÜLKELERİ ÖRNEĞİ. Journal of Mehmet Akif Ersoy University Economics and Administrative Sciences Faculty, 6(2), 393-407. https://doi.org/10.30798/makuiibf.518334