The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs)

B. Tuğberk TOSUNOĞLU (Anadolu Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Eskişehir, Türkiye)
Business and Management Studies: An International Journal
4 2
Yıl: 2023 Cilt: 11 Sayı: 2 Sayfa Aralığı: 532 - 540 Metin Dili: İngilizce DOI: 10.15295/bmij.v11i2.2229 İndeks Tarihi: 10-07-2023

The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs)

Öz:
A country's financial development and trade openness are important indicators that affect integration into the economic system at the international level. Especially in newly industrializing countries, these variables can be beneficial in ensuring economic growth. Financial development supports economic development through the mobilization and effective use of capital. Trade openness is one of the unifying forces of productivity and economic growth. The effectiveness of trade openness is highly dependent on structural reforms. Newly industrialized countries are motivated to attract large amounts of capital and investment from the global economy. These countries tend to encourage exports while ensuring their industrialization. This research investigates the relationships between financial development, trade openness, and economic growth for ten newly industrializing countries. Research data contained the period from 1990 to 2020. The Dumitrescu-Hurlin panel causality test was used in the analysis. Considering the results, there is a uni-directional causality relationship between trade openness to economic growth and financial development to trade openness. Moreover, a bidirectional relationship between economic growth and financial development has been observed.
Anahtar Kelime:

Ticaret açıklığı, finansal gelişme ve ekonomik büyüme arasındaki nedensellik ilişkisi: Yeni sanayileşen ülkeler

Öz:
Bir ülkenin finansal gelişmişliği ve ticari açıklığı, uluslararası düzeyde ekonomik sisteme entegrasyonu etkileyen önemli göstergelerdir. Özellikle yeni sanayileşen ülkeler açısından bu göstergeler ekonomik büyümenin sağlanmasında fayda sağlar. Finansal gelişme, sermayenin mobilize edilmesi ve etkin kullanımı yoluyla ekonomik kalkınmayı destekler. Ticari açıklık, verimlilik ve ekonomik büyümenin birleştirici güçlerinden biridir. Ticari açıklığın etkinliği büyük ölçüde yapısal reformlara bağlıdır. Yeni sanayileşmiş ülkeler, küresel ekonomiden büyük miktarlarda sermaye ve yatırım çekmek için çalışan ülkelerdir. Bu ülkeler sanayileşmelerini sağlarken ihracatı teşvik etme eğilimindedirler. Bu çalışma, yeni sanayileşen on ülke için 1990'dan 2020'ye kadar olan verileri kullanarak ticaret açıklığı, finansal gelişme ve ekonomik büyüme arasındaki ilişkileri incelemeyi amaçlamaktadır. Analizlerde Dumitrescu-Hurlin panel nedensellik testi uygulanmıştır. Sonuçlar, finansal gelişmeden ticaret açıklığına ve ticaret açıklığından ekonomik büyümeye doğru tek yönlü bir nedensellik ilişkisi bulunduğunu göstermektedir. Çift yönlü ilişki finansal gelişme ve ekonomik büyüme arasında bulunmaktadır.
Anahtar Kelime:

Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık
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APA Tosunoglu B (2023). The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs). , 532 - 540. 10.15295/bmij.v11i2.2229
Chicago Tosunoglu Burak Tugberk The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs). (2023): 532 - 540. 10.15295/bmij.v11i2.2229
MLA Tosunoglu Burak Tugberk The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs). , 2023, ss.532 - 540. 10.15295/bmij.v11i2.2229
AMA Tosunoglu B The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs). . 2023; 532 - 540. 10.15295/bmij.v11i2.2229
Vancouver Tosunoglu B The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs). . 2023; 532 - 540. 10.15295/bmij.v11i2.2229
IEEE Tosunoglu B "The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs)." , ss.532 - 540, 2023. 10.15295/bmij.v11i2.2229
ISNAD Tosunoglu, Burak Tugberk. "The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs)". (2023), 532-540. https://doi.org/10.15295/bmij.v11i2.2229
APA Tosunoglu B (2023). The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs). Business and Management Studies: An International Journal, 11(2), 532 - 540. 10.15295/bmij.v11i2.2229
Chicago Tosunoglu Burak Tugberk The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs). Business and Management Studies: An International Journal 11, no.2 (2023): 532 - 540. 10.15295/bmij.v11i2.2229
MLA Tosunoglu Burak Tugberk The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs). Business and Management Studies: An International Journal, vol.11, no.2, 2023, ss.532 - 540. 10.15295/bmij.v11i2.2229
AMA Tosunoglu B The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs). Business and Management Studies: An International Journal. 2023; 11(2): 532 - 540. 10.15295/bmij.v11i2.2229
Vancouver Tosunoglu B The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs). Business and Management Studies: An International Journal. 2023; 11(2): 532 - 540. 10.15295/bmij.v11i2.2229
IEEE Tosunoglu B "The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs)." Business and Management Studies: An International Journal, 11, ss.532 - 540, 2023. 10.15295/bmij.v11i2.2229
ISNAD Tosunoglu, Burak Tugberk. "The causal relationship among trade openness, financial development, and economic growth: Recent evidence from newly industrialized countries (NICs)". Business and Management Studies: An International Journal 11/2 (2023), 532-540. https://doi.org/10.15295/bmij.v11i2.2229
Sayfa Oluşturulma Tarihi
27-04-2024 9:7

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