RELATIONSHIP BETWEEN GOVERNMENT SIZE AND INCLUSIVE GROWTH: AN ECONOMETRIC STUDY ON EMERGING MARKET ECONOMIES

Yıl 2022, , 39 - 69, 28.04.2022

Nazlı Keyifli Birol Karakurt Suat Hayri Şentürk

https://doi.org/10.52836/sayistay.1110377

Cited By: 1

Öz

The fact that every economic growth is not sufficient to reduce income inequality, unemployment, and poverty and that not every household can benefit from the benefits and opportunities created by growth has turned the attention from economic growth to inclusive growth. Inclusive growth has a multidimensional structure that deals with areas such as sustainable growth and development, quality and accessibility of education and health services, income and gender inequalities, combating poverty and unemployment problems, infrastructure, and the environment, as well as economic growth. Policy implementations for inclusive growth, which express the speed and distribution of economic growth and aim for all segments of society to benefit from the opportunities
created by economic growth, are increasing all over the world. This study examines the relationship between inclusive growth and public sector size in eight large emerging market economies (Argentina, China, Brazil, India, Mexico, Indonesia, Turkey, and South Africa), also called emerging market economies, using the Bootstrap Panel Rolling Window causality approach, which is a novel methodology for the 1985-2019 period. Analysis results show that inclusive growth causes government size in India, Indonesia, Mexico, and South Africa, while government size causes inclusive growth in Turkey.

Anahtar Kelimeler

Government Size, Inclusive Growth, Emerging Market Economies, Panel Rolling Window Causality

KAMU KESİMİ BÜYÜKLÜĞÜ VE KAPSAYICI BÜYÜME İLİŞKİSİ: YÜKSELEN PİYASA EKONOMİLERİ ÜZERİNE EKONOMETRİK BİR ÇALIŞMA

Öz

Yaşanan her ekonomik büyümenin gelir eşitsizliği, işsizlik ve yoksulluğu azaltmada yeterli olamayışı ve büyümenin ortaya çıkardığı fayda ve fırsatlardan her hanenin fayda sağlayamaması ilgiyi ekonomik büyümeden kapsayıcı büyümeye çevirmiştir. Kapsayıcı büyüme, ekonomik büyümenin yanı sıra sürdürülebilir büyüme ve kalkınma, eğitim ve sağlık hizmetlerinin niteliği ve bu hizmetlere erişilebilirliği, gelir ve cinsiyet eşitsizlikleri,yoksulluk ve işsizlik sorunlarıyla mücadele, altyapı, çevre gibi alanlarla ilgilenen çok boyutlu bir yapıya sahiptir. Ekonomik büyümenin hızı ve dağılımını ifade eden ve ekonomik büyümenin yarattığı fırsatlardan toplumun tüm kesimlerinin faydalanmasını amaçlayan kapsayıcı büyümeye yönelik politika uygulamaları tüm dünyada artmaktadır. Bu çalışmada, yükselen piyasa ekonomileri olarak adlandırılan sekiz büyük gelişmekte olan piyasa ekonomisi (Arjantin, Çin, Brezilya, Hindistan, Meksika, Endonezya, Türkiye ve Güney Afrika) özelinde kapsayıcı büyüme ve kamu kesimi büyüklüğü ilişkisi 1985-2019 dönemi için yeni bir metodoloji olan Bootstrap Panel Rolling Window nedensellik yaklaşımı kullanılarak araştırılmıştır. Analiz sonuçları, Hindistan, Endonezya, Meksika ve Güney Afrika’da kapsayıcı büyümenin kamu kesimi büyüklüğüne, Türkiye’de ise kamu kesimi büyüklüğünün kapsayıcı büyümeye neden olduğunu göstermektedir.

Anahtar Kelimeler

Kamu Kesimi Büyüklüğü, Kapsayıcı Büyüme, Yükselen Piyasa Ekonomileri, Panel Rolling Window Nedensellik

Kaynakça

• Abor, J. Y., Haruna, I., Amidu, M. ve Murinde, V. (2018). Financial Inclusion and Economic Growth: What Do We Know? London: Centre for Global Finance Working Paper Series.
• Acemoglu, D., Gallego, F. A. ve Robinson, J. A. (2014), Institutions, Human Capital and Development, Annual Review of Economics, 6: 875-912.
• ADB (2008). Strategy 2020: The Long-Term Strategic Framework of the Asian Development Bank, 2008-2020.
• ADB (2011). Framework of Inclusive Growth Indicators: Key Indicators for Asia and the Pacific. Manila.
• Adejumo, O. O., Adejumo, A. V. ve Aladesanmi, T. A. (2020). Technology-Driven Growth and Inclusive Growth- Implications for Sustainable Development in Africa. Technology in Society, 63, 1-8.
• Ali, I. ve Son, H. H. (2007). Defining and Measuring Inclusive Growth: Application to the Philippines. Asian Development Bank, ERD Working Paper Series.
• Ali, I. ve Zhuang, J. (2007). Inclusive Growth Toward a Prosperous Asia: Policy Implications. ERD Economics and Research Department. Working Paper Series, No: 97.
• Amponsah, M., Agbola, F. W. ve Mahmood, A. (2021). The Impact of Informality on Inclusive Growth in Sub-Saharan Africa: Does Financial Inclusion Matter?. Journal of Policy Modeling, 43, 1259-1286.
• Aoyagi, C. ve Ganelli, G. (2015). Asia’s Quest for Inclusive Growth Revisited. Journal of Asian Economics, 40, 29-46.
• Avcı, B. S. ve Tonus, Ö. (2020a). Kapsayıcı Büyüme Üzerine Bir Değerlendirme. Anadolu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 21(4), 37-55.
• Avcı, B. S. ve Tonus, Ö. (2020b). Kapsayıcı Büyümenin Ölçülmesi: Türkiye Örneği. Sakarya İktisat Dergisi, 9(4), 277-298
• Balcilar, M., Ozdemir, Z. A. ve Arslanturk, Y. (2010). Economic Growth and Energy Consumption Causal Nexus Viewed Through a Bootstrap Rolling Window. Energy Economics, 32(6), 1398-1410.
• Barro, R. J. (2000). Inequality and Growth in a Panel of Countries. Journal of Economic Growth, 5(1), 5–32.
• Corrado, G. ve Corrado, L. (2017). Inclusive Finance for Inclusive Growth and Development. Environmental Sustainability, 24, 19-23.
• Çakmak, E. ve Gümüş, S. (2005). Türkiye’de Beşeri Sermaye ve Ekonomik Büyüme: Ekonometrik Bir Analizi (1960-2002). Ankara Üniversitesi SBF Dergisi, 60 (1), 59-72.
• Deviren Vatansever, N. (2009). Küresel Yoksullukla Mücadelede Mikro Kredilerin Rolü. Mevzuat Dergisi, 12 (137), https://www.mevzuatdergisi.com/2009/05a/02.htm (27.02.2022).
• Dinda, S. (2014). Inclusive Growth Through Creation of Human and Social Capital. International Journal of Social Economics, 41(10), 878–895.
• Ge, T., Qiu, W., Li, J. ve Hao, X. (2020). The Impact of Environmental Regulation Efficiency Loss on Inclusive Growth: Evidence from China. Journal of Environmental Management, 268, 1-10.
• Gennaioli, N., La Porta, R., Lopez-de Silanes, F. ve Shleifer, A. (2013). Human Capital and Regional Development. The Quarterly Journal of Economics, 28, 105-164.
• Hanushek, E. ve Woessmann, L. (2008). The Role of Cognitive Skills in Economic Development. Journal of Economic Literature, 46 (3), 607-668.
• Heintz, J. (2012). Informality, Inclusiveness, and Economic Growth: An Overview of Key Issues. In International Development Research Centre (IDRC). SIG Working Paper 2012/2.
• Ianchovichina, E. ve Lundstrom, S. (2009). Inclusive Growth Analytics: Framework and Application. Policy Research Working Paper. The World Bank.
• Ianchovichina, E. ve Lundstrom Gable, S. (2009). What is Inclusive Growth?. Commodity Price Volatility and Inclusive Growth in Low-Income Countries (Ed. R. Arezki, C.A. Pattillo, M.G. Quintyn and M. Zhu), pp.147-160. International Monetary Fund.
• International Monetary Fund (2020). A Crisis Like no Other, an Uncertainty Recovery. In World Economic Outlook.
• Jones Charles, I. ve Romer, Paul M. (2010). The New Kaldor Facts: Ideas, Institutions, Population and Human Capital. American Economic Journal: Macroeconomics, 2 (1), 224-245.
• Kónya, L. (2006). Exports and Growth: Granger Causality Analysis on OECD Countries with a Panel Data Approach. Economic Modelling, 23(6), 978-992.
• Köse, H. Ö. (2012). Küresel Krizle Mücadelede Denetimin Önemi ve Yüksek Denetim Kurumlarının Rolü. Anadolu Üniversitesi Sosyal Bilimler Dergisi, 12 (3), 93-107.
• Ngepah, N. (2017). A Review of Theories and Evidence of Inclusive Growth: An Economic Perspective for Africa. Environmental Sustainability, 24, 52-57.
• OECD (2014). General Government Final Consumption, in National Accounts at a Glance. OECD Publishing, Paris.
• OECD (2015). In It Together Why Less Inequality Benefits All. OECD. https://www.oecd.org/social/in-it-together-why-less-inequality-benefits-all-9789264235120-en.htm (22.02.2022).
• OECD (2016). Policy Shaping and Policy Making: The Governance of Inclusive Growth. Paris.
• OECD (2018). The Future of Education and Skills: Education 2030. Paris.
• Oluseye, I. C. ve Gabriel, A. A. (2017). Determinants of Inclusive Growth in Nigeria: An ARDL Approach. American Journal of Economics, 7(3), 97-109.
• Oyinlola, M. A., Adedeji, A. A. ve Onitekun, O. (2021). Human Capital, Innovation and Inclusive Growth in Sub-Saharan African Regio. Economic Analysis and Policy, 72, 609-625.
• Oyinlola, M., Adedeji, A. A., Bolarinwa, M. O ve Olabisi, N. (2020). Governance, Domestic Resource Mobilization, and Inclusive Growth in sub-Saharan Africa. Economic Analysis and Policy, 65, 68-88.
• Öztürk, N. (2005). İktisadi Kalkınmada Eğitimin Rolü. Sosyoekonomi, 1(1), 27-44.
• Özütler, H. Ş. (2018). Kapsayıcı Büyümenin Kurumsal Çerçevesi Üzerine Bir Araştırma. Süleyman Demirel Üniversitesi İİBF Dergisi, 23 (4), 1455-1477.
• Pesaran, M. H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels. Cambridge Working Papers in Economics, 435. London:BP.
• Pesaran, M. H., Ullah, A. ve Yamagata, T. (2008). A Bias‐Adjusted LM Test of Error Cross‐Section Independence. The Econometrics Journal, 11(1), 105-127.
• Piketty, T. (2013). Le Capital au XXIe Si`ecle [Capital in the 21st century]. ´Editions du Seuil, Paris.
• Pouw, N. ve Gupta, J. (2016). Inclusive Development: A Multi-Disciplinary Approach. Environment Sustainability, 24, 104-108.
• Prasad, N. (2008). Policies for Redistribution: The Use of Taxes and Social Transfers. International Labour Organization (International Institute for Labour Studies).
• Raheem, I. D., Isah, K. O. ve Adedeji, A. A. (2018). Inclusive Growth, Human Capital Development and Natural Resource Rent in SSA. Economic Change and Restructuring, 51, 29-48.
• Ramos, R. A., Ranieri, R. ve Lammens, J.-W. (2013). Mapping Inclusive Growth. International Policy Centre for Inclusive Growth (IPC - IG).
• Ranieri, R. ve Raquel, A. R. (2013). Inclusive Growth: Building up a Concept. International Policy Centre for Inclusive Growth (IPC-IG).
• Sherriffdeen, T. ve Olorunfemi, A. (2016). Determinants of Inclusive Growth in Africa: Role of Health and Demographic Changes. African Journal of Economic Review, 4(2), 138-146.
• Solmaz, E. ve Avcı, M. (2017). Yoksullukla Mücadelede Sosyal Koruma Harcamaları: Avrupa Birliği Ülkeleri Üzerine Bir İnceleme. Ekonomi ve Yönetim Araştırmaları Dergisi, 6(1), 46-73.
• Taşkın, T. (2014). Türkiye’de Kapsayıcı Büyüme. Türkiye Cumhuriyeti Merkez Bankası.
• UNDP (2018). What is Inclusive Growth, https://hdr.undp.org/en/theme/inclusive-growth (11.02.2022).
• Wang, W., Wu, Y. ve Choguill, C. (2021). Prosperity and Inclusion: The Impact of Public Housing Supply on Urban Inclusive Growth in China. Land Use Policy, 105, 1-10.
• WEF (2015). The Inclusive Growth and Development Report 2015. Switzerland: World Economic Forum.
• WEF (2017). The Inclusive Growth and Development Report 2017. World Economic Forum.
• Whajah, J., Godfred, A. B. ve Kuttu, S. (2019). Government Size, Public Debt and Inclusive Growth in Africa. Research in International Business and Finance, 49, 225-240.
• World Bank (2016). Poverty and Share Prosperity: Talking on Inequality. World Bank, Washington DC.
• Zellner, A. (1962). An Efficient Method of Estimating Seemingly Unrelated Regressions and Tests for Aggregation Bias. Journal of The American Statistical Association, 57(298), 348-368