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Feldstein-Horioka Hipotezinin Türkiye Ekonomisi İçin Sınanması: ARDL Modeli Uygulaması

Testing Feldstein-Horioka Hypothesis for Tur-kish Economy: Application of ARDL Model

Journal Name:

  • Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi

Publication Year:

  • 2012

Key Words:

Keywords (Original Language):

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
The presence of a relation between saving and investment is paramount to the determination of economic policies. Feldstein-Horioka (1980) stated that the relationship between saving and investment depends on the degree of interna-tional capital mobility. If the capital mobility is high then the relation between saving and investment is strong. However, in the case of restricted capital mobility the relation falters or ceases to exist altogether. In this study the Feldstein- Horioka hypothesis is tested for Turkey using ARDL model. The empirical findings sup-port the hypothesis for the Turkey.
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Abstract (Original Language): 
Tasarruf ve yatırım arasındaki ilişkinin varlığı iktisat politikalarının belirlenmesi açısından önem arz etmektedir. Feldstein-Horioka (1980), tasarruflar ve yatırımlar arasındaki ilişkinin varlığını uluslararası sermaye hareketlerinin serbestlik derecesine bağlamaktadır. Eğer sermaye hareketleri üzerinde kısıtlamalar varsa, tasarruflar ve yatırımlar arasındaki ilişkinin güçlü olduğunu, aksi takdirde ise ilişkinin koptuğunu veya zayıfladığını öne sürmektedirler. Yani uluslararası sermaye hareketlerinin kısıtlanması durumunda tasarrufların yatırımlara dönüşme oranı yükselmektedir. Bu çalışmada Feldstein-Horioka hipotezi, Türkiye Ekonomisi açısından ARDL modeli ile sınanmıştır. Elde edilen bulgular Feldstein-Horioka hipotezinin Türkiye Ekonomisi için geçerli olduğunu ortaya koymuştur.
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