Araştırma Makalesi
BibTex RIS Kaynak Göster

BİREYSEL EMEKLİLİK SİSTEMİNİN FİNANSAL DERİNLEŞMEYE ETKİSİNİN EKONOMETRİK ANALİZİ

Yıl 2017, Cilt: 7 Sayı: 2, 237 - 256, 30.12.2017

Öz

Bir finansal sistemin başarısı, fon fazlası olan ekonomik
birimlerle fon açığı olan ekonomik birimler arasındaki aracılık etme görevini
ne kadar etkin bir şekilde yerine getirebildiğine bağlıdır. Bu nedenle finans
sistemlerinin fon değişimine olanak tanıyacak araç çeşitliliğine sahip olması
oldukça önemlidir. Son yıllarda teşvik edilen Bireysel Emeklilik Sistemi de,
yurtiçi tasarrufların artırılmasına zemin hazırlayarak, finansal sistemin
gelişimine destek sunmaktadır.



Bu çalışma, Türkiye ekonomisinde Bireysel Emeklilik Sistemi
aracılığıyla yatırıma yönlendirilen fonların, finansal derinleşmeye katkısını
ortaya koymayı amaçlamaktadır. Farklı modeller aracılığıyla tahmin edilen
ekonometrik bulgular, Bireysel Emeklilik Sisteminde yatırıma yönlendirilen
fonların finansal derinleşmeye pozitif katkı sağladığını ortaya koymaktadır.



Anahtar Kelimeler:
Bireysel Emeklilik Sistemi, Eşbütünleşme, Finansal Derinleşme, Türkiye
Ekonomisi

Kaynakça

  • Agenor, P.R.. (2000). The Economics of Adjustment and Growth, Washington DC, The World Bank.
  • Ağır, H.. (2010). Türkiye’de Finansal Liberalizasyon Ve Finansal Gelişme İlişkisinin Ekonometrik Analizi, BDDK Kitapları, BDDK Aroks Doküman Merkezi No: 8, 210s.
  • Akın, F.. (2008), Özel Emeklilik Fonları ve Türkiye’de Bireysel Emeklilik Sistemi Üzerine Bir Araştırma, Kadir Has Üniversitesi, Sosyal Bilimler Enstitüsü, Finans ve Bankacılık Ana Bilim Dalı, Doktora Tezi, 232s.
  • Akpınar, Ö.. (2012). Özel Emeklilik Fonları: Kavramsal Çerçevesi ve Gelişimi, Fuat Erdal (Ed.). Hayat Sigortaları ve Bireysel Emeklilik Sistemi, Yayın No: 2513, Eskişehir: Anadolu Üniversitesi Yayınları, ss. 122-138.
  • Al-Sharkas, A.. (2004). The Dynamic Relationship Between Macroeconomic Factors and the Jordanian Stock Market, International Journal of Applied Econometrics and Quantitative Studies, 1 (1), pp. 97-114.
  • Ang, J.B. and Mc Kibbin, W.J.. (2007). Financial Liberalization, Financial Sector Development and Growth: Evidence From Malaysia, Journal of Development Economics, 84 (1), pp. 215-233.
  • Ang, J.B.. (2008). Are Financial Sector Policies Effective in Deepening the Malaysian Financial System?, Monash University, Discussion Paper, 26 (4), pp. 623-635.
  • Ang, J.B.. (2008a). A Survey of Recent Developments in the Literature of Finance and Growth, Journal of Economic Surveys, 22 (3), pp. 536-576.
  • Baek, J. and Koo, W.W.. (2008). Identifying Macfroeconomic Linkages to US Agricultural Trade Balance, Canadian Journal of Agricultural Economics 56:, pp. 63-77
  • Başoğlu, U.. Ceylan, A.. Parasız, İ.. (2001), Finans Teori Kurum ve Araçlar, Ezgi Kitabevi Yayınları, Bursa,
  • Ben Naceur, S.. Boubakri, N. ve Ghazouani, S.. (2008). Privatization and Financial Market Development: A Comparison Between Mena Countries and Other Regions, Economic Research Forum, Working Paper No. 390, 27p.
  • Bilgin, C. ve Şahbaz, A.. (2009). Türkiye’de Büyüme ve İhracat Arasındaki Nedensellik İlişkileri, Gaziantep Üniversitesi, Sosyal Bilimler Dergisi 8(1), ss. 177-198.
  • Bittencourt, M.. (2008). Inflation and Financial Development: Evidence from Brazil, United Nations University, Research Paper No: 2008/14, pp. 91-99.
  • Chen, F.. Roll, R. and Ross, S. (1986). Economic Forces and the Stock Market, Journal of Business, 59, pp. 383-403.
  • Chun-Ling, G.. (2011). Reserch On Interactive Relationship between Agricaltural Insurance and Rural Financial Development in Central and Western Region, Asian Agricultural Research, 3 (5), pp. 136-139.
  • Clark, G.L.. and Whitside N.. (2003). Pension Security in the 21st Century, Oxford Univesity Pres, New York, 218p.
  • Cull, R.. Senbet, L.W. and Sorge, M. (2001). Deposit Insurance and Financial Development, Policy Research Working Paper, WPS 2682, pp. 1-61.
  • Cutler, D.M and Poterba, J.M. and Summers L.H.. (1989). What Moves Stock Prices?, Nber Working Paper Series, National Breau of Economic Research, Camdbridge, 19p.
  • Davis, E.P.. The Structure, (1993). Regulation and Performance of Pension Funds in Nine Industrial Countries, The World Bank Paper for IBRD Project on Old Age Income Security, Washington DC.
  • Demir Y.. Yavuz A.. (2004). Bireysel Emeklilik Sisteminin Sermaye Piyasalarına Etkisi ve Sistemin Gelişmesinde Vergisel Teşviklerin Önemi, Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi, 2004, 9 (1), ss. 281-300.
  • Dickey, D. and Fuller, W.. (1979). Distrubituon of the Estimators for Autoregressive Time Series with a Unit Root, Journal of American Statistical Association, 74, pp. 427-431.
  • Enache, C.. Milos, L. and Milos M.. (2015). Pension Reform and Capital Market Development in Central and Eastern Countries, Economic Research, pp. 1848-9664.
  • Ergenekon Ç.. (1998). Özel Emeklilik Fonları Şili Örneğinden Alınacak Dersler, İMKB Yauınları, İstanbul, 152s.
  • Erim, N. ve Türk, A. (2005) Finansal Gelişme ve İktisadi Büyüme, Kocaeli Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, c. 10, s. 2, ss. 21-44.
  • Errunza, V. and Hogan, K. (1998). Macroeconomic Determinants of European Stock Market Volatility, European Financial Management, 4 (1), pp. 361-377.
  • Fama, E.. (1981). Stock returns, real activity, inflation and money, American Economic Review, 71 (1), pp. 545-565.
  • Gueraineau, S. and Sawadogo, R.. (2015). Does Insurance Development Affect The Financial Markets in Developing Countries?, International Finance and Banking, 3 (1), pp. 136-149.
  • Guérard Y. and Jenkins G.. (1993). Building Private Pension Systems: A Handbook, International Center for Economic Growth Harvard Institute for International Development, San Francisco, 100p.
  • Gultekin, B.. (1983). Stock market returns and inflation: Evidence From Other Countries, Journal of Finance, 38, pp. 49-67 Haslag, J.H. and Koo, J. (1999). Financial Repression, Financial Development and Economic Growth, Federal Reserve Bank of Dallas, 99 (2), 43p.
  • Homa, K. and Jaffee, D.. (1971). The Supply of Money and Common Stock Prices, The Journal of Finance, 26,. pp.1045-1066.
  • Horng, M.. Chang Y. and Wu T.. (2012). Does Insurance Demand of Financial Development Promote Economic Growth? , Applied Economics Letters, 19, pp. 105-111.
  • Hu, Y.. (2012). Growth of Asian Pension Assets: Implications for Financial and Capital Markets, ADBI Working Paper Series, No:360, pp. 1-29.
  • Ippolito Richard A.. (1986). Pensions, Economics and Public Policy, Pension Research Council, Wharton School University of Pennsylvania, Illinois USA, 296p.
  • İşseveroğlu, G.. ve Hatunoğlu, Z.. (2012). Türkiye’de Bireysel Emeklilik Sisteminin Makro Ekonomik Dinamiklere Etkisi Kapsamında Swot Analizi, Muhasebe ve Finans Dergisi, Ekim, ss. 155-174.
  • Jawadi, F.. Bruneau, C. and Sgahierj, N.. (2009). Non- Linear Cointegtaion Relationship between Non- Life Insurance Premium and Financial Markets, The Journal of Risk and İnsurance, 76 (3), pp. 753-783.
  • Johansen, S.. (1992) Determination of Cointegration Rank in the Presence of a Linear Trend, Oxford Bulletin of Economics and Statistics, 54 (3), pp. 383-397.
  • Johansen, S. and Juselius, K.. (1990). Maximum Likelihood Estimation and Inference on Cointegration With Application to the Demand for Money, Oxford Bulletin of Economics and Statistics, 52, pp. 169-210.
  • Johansen, S. and Juselius, K.. (1992). Testing Structural Hypothesis in A Multivariate Cointegration Analysis of the PPP and tha UIP for UK, Journal of Econometrics, 53, pp.211-244.
  • Johansen, S.. (1988). Statistical Analysis of Cointegration Vectors, Journal of Economic Dynamics and Control, 12, pp.231-254.
  • Kar, M.. (2001). Finansal Kalkınma Ekonomik Büyüme Arasındaki Nedensellik İlişkisi, Türkiye Örneği, Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi, 22, ss. 150-164.
  • Kwiatkowski, D.. Phillips, P.C.B.. Schmidt, P. and Shin, Y.. (1992). Testing The Null Hypothhesis of Stationarity Against the Alternative of Unit Root: How Sure Are We that Economics Time Series Have a Unit Root?, Journall of Econometrics, 54, pp. 159-178
  • Law, S. H. and Demetriades, P.. (2006). Opennes, Institutions and Financial Development, World Economy Finance Research Programme Working Paper Series, Economic&Social Research Council, WEF, 0012.
  • Levine R.. (1997). Financial Development and Economic Growth: Views and Agenda, Journal of Economic Literature, 35, pp. 688-726.
  • Lynch, D.. (1996). Measuring Financial Sector Development: A Study of Selected Asia Pasific Countries, Developing Economies, 33 (1), pp. 3-33.
  • Meng, C. and Pfau, W. D.. (2010). The Role of Pension Funds in Capital Market Development, National Graduate Institue For Policy Studies Discussion Paper 10 (17), pp. 1-20.
  • Mesike, G.. Ibiwoye, A.. (2012). Pension Reform and Financial Development Nexus: Evidence From Nigeria, International Journal of Academic Research in Business and Social Sciences, 2 (6), pp. 574-586.
  • Oktayer, N. ve Oktayer A.. (2007). Özel Emeklilik Fonlarının Finansal Piyasaların Gelişimine Etkileri, Afyon Kocatepe Üniversitesi İİBF Dergisi, ss. 55-80.
  • Olayungbo, D.O.. (2015). Insurance Demand, Financial Development and Economic Growth in South Africa: Evidence from Toda-Yamamoto Causality Test, Journal of Applied Economics and Business, 3(3), pp. 35-54.
  • Özbolat M.. (2004). Türkiye’de Hayat Sigortaları ve Bireysel Emeklilik Sistemi, Detay Yayıncılık, Ankara, 254s.
  • Özel, Ö. ve C. Yalçın, (2013). Yurtiçi Tasarruflar ve Bireysel Emeklilik Sistemi: Türkiye’deki Uygulamaya İlişkin Bir Değerlendirme, TCMB 13 (04). İnternet erişimi: http://tcmb.gov.tr/research/teblig/abstract/wp1304_tr.php
  • Öztürk, N.. Barışık, S. ve Darıcı, H. K.. (2010). Gelişmekte Olan Piyasalarda Finansal Derinleşme ve Büyüme İlişkisi, ZKÜ, Sosyal Bilimler Dergisi, 6 (12), ss. 95-119.
  • Perron, P.. (1989). The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis, Econometrica, 57 (6), pp. 1361-1401.
  • Perron, P.. (1997). Further Evidence on Breaking Trend Functions in Macroeconomic Variables, Journal of Econometrics, 80 (2), pp. 355-385.
  • Perron, P.. Rodríguez, G.H.. (2003). GLS Detrending, Efficient Unit Root Tests and Ttructural Change, Journal of Econometrics, 27 (1), 115p.
  • Saltoglu, B.. (1998). Ekonomik Büyüme ve Finansal Piyasaların Gelişimi, İktisat Dergisi, 12 (25), ss. 13-37.
  • Sibindi, A.B.. (2014). Life Insurance, Financial Development and Economic Growth In South Africa, Risk Governance & Control: Financial Markets & Institutions, 4 (3), pp. 7-14.
  • Subeniotis, D.N.. Papadopoulos D.N.. Tampakoudis I.A.. Tampakoudi, A.. (2011). How Inflation, Market Capitalization, Industrial Production and the Economic Sentiment Indicator Affect the EU-12 Stock Markets, European Research Studies, 16 (1), pp. 103-118.
  • Sukar, A. and Hassan, S.. (2001). US Exports and Time Varying Volatility of Real Exchange Rate, Global Finance Journal, 21, pp. 109-119.
  • Thomas, A.. Spataro, L. and Mathew, N.. (2014). Pension Funds and Stock Market Volatility: An Empirical Analysis of OECD Countries, Journal of Financial Stability, 11, pp. 92-103.
  • Uralcan, Ş.. (2005). Bireysel Emeklilik Sistemi Ve Altyapısı, İstanbul, Beta Yayınevi, 93s.
  • Yapı Kredi Emeklilik, (2004). Bireysel Emeklilik Sistemi ile İlgili Mevzuat Eğitim Kitabı İstanbul.
  • Zoli, E.. (2007). Financial Development in Emerging Europa: The Unfinished Agenda, IMF Working Paper, 244 (7), 36p.
Yıl 2017, Cilt: 7 Sayı: 2, 237 - 256, 30.12.2017

Öz

Kaynakça

  • Agenor, P.R.. (2000). The Economics of Adjustment and Growth, Washington DC, The World Bank.
  • Ağır, H.. (2010). Türkiye’de Finansal Liberalizasyon Ve Finansal Gelişme İlişkisinin Ekonometrik Analizi, BDDK Kitapları, BDDK Aroks Doküman Merkezi No: 8, 210s.
  • Akın, F.. (2008), Özel Emeklilik Fonları ve Türkiye’de Bireysel Emeklilik Sistemi Üzerine Bir Araştırma, Kadir Has Üniversitesi, Sosyal Bilimler Enstitüsü, Finans ve Bankacılık Ana Bilim Dalı, Doktora Tezi, 232s.
  • Akpınar, Ö.. (2012). Özel Emeklilik Fonları: Kavramsal Çerçevesi ve Gelişimi, Fuat Erdal (Ed.). Hayat Sigortaları ve Bireysel Emeklilik Sistemi, Yayın No: 2513, Eskişehir: Anadolu Üniversitesi Yayınları, ss. 122-138.
  • Al-Sharkas, A.. (2004). The Dynamic Relationship Between Macroeconomic Factors and the Jordanian Stock Market, International Journal of Applied Econometrics and Quantitative Studies, 1 (1), pp. 97-114.
  • Ang, J.B. and Mc Kibbin, W.J.. (2007). Financial Liberalization, Financial Sector Development and Growth: Evidence From Malaysia, Journal of Development Economics, 84 (1), pp. 215-233.
  • Ang, J.B.. (2008). Are Financial Sector Policies Effective in Deepening the Malaysian Financial System?, Monash University, Discussion Paper, 26 (4), pp. 623-635.
  • Ang, J.B.. (2008a). A Survey of Recent Developments in the Literature of Finance and Growth, Journal of Economic Surveys, 22 (3), pp. 536-576.
  • Baek, J. and Koo, W.W.. (2008). Identifying Macfroeconomic Linkages to US Agricultural Trade Balance, Canadian Journal of Agricultural Economics 56:, pp. 63-77
  • Başoğlu, U.. Ceylan, A.. Parasız, İ.. (2001), Finans Teori Kurum ve Araçlar, Ezgi Kitabevi Yayınları, Bursa,
  • Ben Naceur, S.. Boubakri, N. ve Ghazouani, S.. (2008). Privatization and Financial Market Development: A Comparison Between Mena Countries and Other Regions, Economic Research Forum, Working Paper No. 390, 27p.
  • Bilgin, C. ve Şahbaz, A.. (2009). Türkiye’de Büyüme ve İhracat Arasındaki Nedensellik İlişkileri, Gaziantep Üniversitesi, Sosyal Bilimler Dergisi 8(1), ss. 177-198.
  • Bittencourt, M.. (2008). Inflation and Financial Development: Evidence from Brazil, United Nations University, Research Paper No: 2008/14, pp. 91-99.
  • Chen, F.. Roll, R. and Ross, S. (1986). Economic Forces and the Stock Market, Journal of Business, 59, pp. 383-403.
  • Chun-Ling, G.. (2011). Reserch On Interactive Relationship between Agricaltural Insurance and Rural Financial Development in Central and Western Region, Asian Agricultural Research, 3 (5), pp. 136-139.
  • Clark, G.L.. and Whitside N.. (2003). Pension Security in the 21st Century, Oxford Univesity Pres, New York, 218p.
  • Cull, R.. Senbet, L.W. and Sorge, M. (2001). Deposit Insurance and Financial Development, Policy Research Working Paper, WPS 2682, pp. 1-61.
  • Cutler, D.M and Poterba, J.M. and Summers L.H.. (1989). What Moves Stock Prices?, Nber Working Paper Series, National Breau of Economic Research, Camdbridge, 19p.
  • Davis, E.P.. The Structure, (1993). Regulation and Performance of Pension Funds in Nine Industrial Countries, The World Bank Paper for IBRD Project on Old Age Income Security, Washington DC.
  • Demir Y.. Yavuz A.. (2004). Bireysel Emeklilik Sisteminin Sermaye Piyasalarına Etkisi ve Sistemin Gelişmesinde Vergisel Teşviklerin Önemi, Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi, 2004, 9 (1), ss. 281-300.
  • Dickey, D. and Fuller, W.. (1979). Distrubituon of the Estimators for Autoregressive Time Series with a Unit Root, Journal of American Statistical Association, 74, pp. 427-431.
  • Enache, C.. Milos, L. and Milos M.. (2015). Pension Reform and Capital Market Development in Central and Eastern Countries, Economic Research, pp. 1848-9664.
  • Ergenekon Ç.. (1998). Özel Emeklilik Fonları Şili Örneğinden Alınacak Dersler, İMKB Yauınları, İstanbul, 152s.
  • Erim, N. ve Türk, A. (2005) Finansal Gelişme ve İktisadi Büyüme, Kocaeli Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, c. 10, s. 2, ss. 21-44.
  • Errunza, V. and Hogan, K. (1998). Macroeconomic Determinants of European Stock Market Volatility, European Financial Management, 4 (1), pp. 361-377.
  • Fama, E.. (1981). Stock returns, real activity, inflation and money, American Economic Review, 71 (1), pp. 545-565.
  • Gueraineau, S. and Sawadogo, R.. (2015). Does Insurance Development Affect The Financial Markets in Developing Countries?, International Finance and Banking, 3 (1), pp. 136-149.
  • Guérard Y. and Jenkins G.. (1993). Building Private Pension Systems: A Handbook, International Center for Economic Growth Harvard Institute for International Development, San Francisco, 100p.
  • Gultekin, B.. (1983). Stock market returns and inflation: Evidence From Other Countries, Journal of Finance, 38, pp. 49-67 Haslag, J.H. and Koo, J. (1999). Financial Repression, Financial Development and Economic Growth, Federal Reserve Bank of Dallas, 99 (2), 43p.
  • Homa, K. and Jaffee, D.. (1971). The Supply of Money and Common Stock Prices, The Journal of Finance, 26,. pp.1045-1066.
  • Horng, M.. Chang Y. and Wu T.. (2012). Does Insurance Demand of Financial Development Promote Economic Growth? , Applied Economics Letters, 19, pp. 105-111.
  • Hu, Y.. (2012). Growth of Asian Pension Assets: Implications for Financial and Capital Markets, ADBI Working Paper Series, No:360, pp. 1-29.
  • Ippolito Richard A.. (1986). Pensions, Economics and Public Policy, Pension Research Council, Wharton School University of Pennsylvania, Illinois USA, 296p.
  • İşseveroğlu, G.. ve Hatunoğlu, Z.. (2012). Türkiye’de Bireysel Emeklilik Sisteminin Makro Ekonomik Dinamiklere Etkisi Kapsamında Swot Analizi, Muhasebe ve Finans Dergisi, Ekim, ss. 155-174.
  • Jawadi, F.. Bruneau, C. and Sgahierj, N.. (2009). Non- Linear Cointegtaion Relationship between Non- Life Insurance Premium and Financial Markets, The Journal of Risk and İnsurance, 76 (3), pp. 753-783.
  • Johansen, S.. (1992) Determination of Cointegration Rank in the Presence of a Linear Trend, Oxford Bulletin of Economics and Statistics, 54 (3), pp. 383-397.
  • Johansen, S. and Juselius, K.. (1990). Maximum Likelihood Estimation and Inference on Cointegration With Application to the Demand for Money, Oxford Bulletin of Economics and Statistics, 52, pp. 169-210.
  • Johansen, S. and Juselius, K.. (1992). Testing Structural Hypothesis in A Multivariate Cointegration Analysis of the PPP and tha UIP for UK, Journal of Econometrics, 53, pp.211-244.
  • Johansen, S.. (1988). Statistical Analysis of Cointegration Vectors, Journal of Economic Dynamics and Control, 12, pp.231-254.
  • Kar, M.. (2001). Finansal Kalkınma Ekonomik Büyüme Arasındaki Nedensellik İlişkisi, Türkiye Örneği, Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi, 22, ss. 150-164.
  • Kwiatkowski, D.. Phillips, P.C.B.. Schmidt, P. and Shin, Y.. (1992). Testing The Null Hypothhesis of Stationarity Against the Alternative of Unit Root: How Sure Are We that Economics Time Series Have a Unit Root?, Journall of Econometrics, 54, pp. 159-178
  • Law, S. H. and Demetriades, P.. (2006). Opennes, Institutions and Financial Development, World Economy Finance Research Programme Working Paper Series, Economic&Social Research Council, WEF, 0012.
  • Levine R.. (1997). Financial Development and Economic Growth: Views and Agenda, Journal of Economic Literature, 35, pp. 688-726.
  • Lynch, D.. (1996). Measuring Financial Sector Development: A Study of Selected Asia Pasific Countries, Developing Economies, 33 (1), pp. 3-33.
  • Meng, C. and Pfau, W. D.. (2010). The Role of Pension Funds in Capital Market Development, National Graduate Institue For Policy Studies Discussion Paper 10 (17), pp. 1-20.
  • Mesike, G.. Ibiwoye, A.. (2012). Pension Reform and Financial Development Nexus: Evidence From Nigeria, International Journal of Academic Research in Business and Social Sciences, 2 (6), pp. 574-586.
  • Oktayer, N. ve Oktayer A.. (2007). Özel Emeklilik Fonlarının Finansal Piyasaların Gelişimine Etkileri, Afyon Kocatepe Üniversitesi İİBF Dergisi, ss. 55-80.
  • Olayungbo, D.O.. (2015). Insurance Demand, Financial Development and Economic Growth in South Africa: Evidence from Toda-Yamamoto Causality Test, Journal of Applied Economics and Business, 3(3), pp. 35-54.
  • Özbolat M.. (2004). Türkiye’de Hayat Sigortaları ve Bireysel Emeklilik Sistemi, Detay Yayıncılık, Ankara, 254s.
  • Özel, Ö. ve C. Yalçın, (2013). Yurtiçi Tasarruflar ve Bireysel Emeklilik Sistemi: Türkiye’deki Uygulamaya İlişkin Bir Değerlendirme, TCMB 13 (04). İnternet erişimi: http://tcmb.gov.tr/research/teblig/abstract/wp1304_tr.php
  • Öztürk, N.. Barışık, S. ve Darıcı, H. K.. (2010). Gelişmekte Olan Piyasalarda Finansal Derinleşme ve Büyüme İlişkisi, ZKÜ, Sosyal Bilimler Dergisi, 6 (12), ss. 95-119.
  • Perron, P.. (1989). The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis, Econometrica, 57 (6), pp. 1361-1401.
  • Perron, P.. (1997). Further Evidence on Breaking Trend Functions in Macroeconomic Variables, Journal of Econometrics, 80 (2), pp. 355-385.
  • Perron, P.. Rodríguez, G.H.. (2003). GLS Detrending, Efficient Unit Root Tests and Ttructural Change, Journal of Econometrics, 27 (1), 115p.
  • Saltoglu, B.. (1998). Ekonomik Büyüme ve Finansal Piyasaların Gelişimi, İktisat Dergisi, 12 (25), ss. 13-37.
  • Sibindi, A.B.. (2014). Life Insurance, Financial Development and Economic Growth In South Africa, Risk Governance & Control: Financial Markets & Institutions, 4 (3), pp. 7-14.
  • Subeniotis, D.N.. Papadopoulos D.N.. Tampakoudis I.A.. Tampakoudi, A.. (2011). How Inflation, Market Capitalization, Industrial Production and the Economic Sentiment Indicator Affect the EU-12 Stock Markets, European Research Studies, 16 (1), pp. 103-118.
  • Sukar, A. and Hassan, S.. (2001). US Exports and Time Varying Volatility of Real Exchange Rate, Global Finance Journal, 21, pp. 109-119.
  • Thomas, A.. Spataro, L. and Mathew, N.. (2014). Pension Funds and Stock Market Volatility: An Empirical Analysis of OECD Countries, Journal of Financial Stability, 11, pp. 92-103.
  • Uralcan, Ş.. (2005). Bireysel Emeklilik Sistemi Ve Altyapısı, İstanbul, Beta Yayınevi, 93s.
  • Yapı Kredi Emeklilik, (2004). Bireysel Emeklilik Sistemi ile İlgili Mevzuat Eğitim Kitabı İstanbul.
  • Zoli, E.. (2007). Financial Development in Emerging Europa: The Unfinished Agenda, IMF Working Paper, 244 (7), 36p.
Toplam 62 adet kaynakça vardır.

Ayrıntılar

Bölüm Makaleler
Yazarlar

Ferid Önder

Tahsin Karabulut

Yayımlanma Tarihi 30 Aralık 2017
Yayımlandığı Sayı Yıl 2017Cilt: 7 Sayı: 2

Kaynak Göster

APA Önder, F., & Karabulut, T. (2017). BİREYSEL EMEKLİLİK SİSTEMİNİN FİNANSAL DERİNLEŞMEYE ETKİSİNİN EKONOMETRİK ANALİZİ. Kahramanmaraş Sütçü İmam Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 7(2), 237-256.
AMA Önder F, Karabulut T. BİREYSEL EMEKLİLİK SİSTEMİNİN FİNANSAL DERİNLEŞMEYE ETKİSİNİN EKONOMETRİK ANALİZİ. Kahramanmaraş Sütçü İmam Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. Aralık 2017;7(2):237-256.
Chicago Önder, Ferid, ve Tahsin Karabulut. “BİREYSEL EMEKLİLİK SİSTEMİNİN FİNANSAL DERİNLEŞMEYE ETKİSİNİN EKONOMETRİK ANALİZİ”. Kahramanmaraş Sütçü İmam Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi 7, sy. 2 (Aralık 2017): 237-56.
EndNote Önder F, Karabulut T (01 Aralık 2017) BİREYSEL EMEKLİLİK SİSTEMİNİN FİNANSAL DERİNLEŞMEYE ETKİSİNİN EKONOMETRİK ANALİZİ. Kahramanmaraş Sütçü İmam Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 7 2 237–256.
IEEE F. Önder ve T. Karabulut, “BİREYSEL EMEKLİLİK SİSTEMİNİN FİNANSAL DERİNLEŞMEYE ETKİSİNİN EKONOMETRİK ANALİZİ”, Kahramanmaraş Sütçü İmam Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, c. 7, sy. 2, ss. 237–256, 2017.
ISNAD Önder, Ferid - Karabulut, Tahsin. “BİREYSEL EMEKLİLİK SİSTEMİNİN FİNANSAL DERİNLEŞMEYE ETKİSİNİN EKONOMETRİK ANALİZİ”. Kahramanmaraş Sütçü İmam Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 7/2 (Aralık 2017), 237-256.
JAMA Önder F, Karabulut T. BİREYSEL EMEKLİLİK SİSTEMİNİN FİNANSAL DERİNLEŞMEYE ETKİSİNİN EKONOMETRİK ANALİZİ. Kahramanmaraş Sütçü İmam Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2017;7:237–256.
MLA Önder, Ferid ve Tahsin Karabulut. “BİREYSEL EMEKLİLİK SİSTEMİNİN FİNANSAL DERİNLEŞMEYE ETKİSİNİN EKONOMETRİK ANALİZİ”. Kahramanmaraş Sütçü İmam Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, c. 7, sy. 2, 2017, ss. 237-56.
Vancouver Önder F, Karabulut T. BİREYSEL EMEKLİLİK SİSTEMİNİN FİNANSAL DERİNLEŞMEYE ETKİSİNİN EKONOMETRİK ANALİZİ. Kahramanmaraş Sütçü İmam Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2017;7(2):237-56.