SAHRAALTI AFRİKA’DA BÜYÜME OYNAKLIĞI VE AÇIKLIK

Yıl 2017, Cilt: 1 Sayı: 2, 209 - 228, 20.11.2017

Jemberu Lulie Mekonnen A. Suut Dogruel

Öz

Ticaret ve finasal açıklığının büyüme oynaklığı üzerindeki etkisi hakkında bir fikir birliği bulunmamaktadır. Bu çalışmada sistem GMM kullanılarak Sahraaltı Afrika’da açıklığın büyüme oynaklığı üzerindeki ektisi ampirik olrak incelenmiştir. Çalışma 1981- 2010 dönemini ve 29 ülkeyi kapsamaktadır. Önceki çalışmaların tersine, elde ettiğimiz sonuçlara göre Sahraaltı Afrika’da hem ticari hem de finansal açıklık büyüme oynaklığını anlamlı biçimde düşürmektedir. Ancak, farklı tanımlamalarda finansal açıklık güçlü bulunmamıştır. Bir aşama ileri giderek ticaret ve finansal açıklığı ayrıştırıldığında, imalat sektörü malları ticaretinin, imalat dışı malların ticaretine göre, oynaklığı belirgin bir biçimde azaltmaktadır. Finansal açıklığı doğrudan yabancı sermaye ve portfolyo akımları olarak ayrıştırmak ise büyüme oynaklığı üzerinde anlamlı bir etki göstermediği tespit edilmiştir.

Anahtar Kelimeler

Büyüme oynaklığı, Ticaret açıklığı, Finansal açıklık, Sahraaltı Afrika, Sistem GMM

Kaynakça

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