Year 2018, Volume 13, Issue 3, Pages 181 - 204 2018-12-31

The Effect of Political Factors on Financial Development: An Analysis of Less Developed and Developing Countries
Finansal Gelişme Üzerinde Politik Faktörlerin Etkisi: Az Gelişmiş ve Gelişmekte Olan Ülkelere Yönelik Bir Analiz

Talip Torun [1] , M. Fatih İlgün [2]

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The aim of this study is to investigate the effects of political decision-making process and political actors on financial development. The impact of political factors was investigated in 48 underdeveloped and developing countries employing dynamic panel data analysis for 1985-2012 period, using nine explanatory variables grouped under two subheadings: ‘the political system and parliamentary structure’ and ‘the political stability’. The results show that the level of democratization has significant inverse U-shaped effect on financial development. While the higher government votes increase the financial development, but coalition governments affect adversely. Institutions and rules that limit the powers of the executive have no significant effect on financial development. With regard to variables representing political stability, the results show that political crises, the frequency of cabinet changes, legislative elections and political corruption limit the financial development, while there is no significant effect of the government's term of office.
Bu çalışmanın amacı politik karar alma süreci ve aktörlerinin finansal gelişim üzerindeki etkisinin araştırılmasıdır. Politik faktörlerin etkisi, ‘politik sistem ve meclis yapısı’ ile ‘politik istikrar’ olmak üzere iki alt başlık altında gruplandırılan dokuz açıklayıcı değişken kullanılarak, 48 az gelişmiş ve gelişmekte olan ülkede 1985-2012 dönemi için dinamik panel veri analiz yöntemi ile incelenmiştir. Analiz sonuçları, demokratikleşme düzeyinin finansal gelişim üzerinde anlamlı ters-U şeklinde etkiye sahip olduğunu, hükümetin oy oranının finansal gelişim üzerinde olumlu, koalisyon şeklindeki hükümetlerin olumsuz etkisi olduğunu, yürütme organının yetkilerini sınırlayan kurum ve kuralların ise anlamlı bir etkisinin olmadığını göstermiştir. Politik istikrarı temsil eden değişkenler açısından elde edilen sonuçlar ise siyasi krizlerin, kabine değişim sıklığının, milletvekili seçimlerinin ve politik yolsuzluk düzeyinin finansal gelişimi engellediğini, hükümetin görev süresinin ise anlamlı bir etkisinin olmadığını göstermiştir.
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Primary Language tr
Subjects Social
Journal Section Articles
Authors

Orcid: 0000-0002-9157-2754
Author: Talip Torun
Institution: ERCİYES ÜNİVERSİTESİ, İKTİSADİ VE İDARİ BİLİMLER FAKÜLTESİ, İŞLETME BÖLÜMÜ
Country: Turkey


Orcid: 0000-0002-1305-2067
Author: M. Fatih İlgün (Primary Author)
Institution: ERCİYES ÜNİVERSİTESİ, İKTİSADİ VE İDARİ BİLİMLER FAKÜLTESİ, MALİYE BÖLÜMÜ

Bibtex @research article { oguiibf443146, journal = {Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi}, issn = {1306-6730}, address = {Eskişehir Osmangazi University}, year = {2018}, volume = {13}, pages = {181 - 204}, doi = {10.17153/oguiibf.443146}, title = {Finansal Gelişme Üzerinde Politik Faktörlerin Etkisi: Az Gelişmiş ve Gelişmekte Olan Ülkelere Yönelik Bir Analiz}, key = {cite}, author = {Torun, Talip and İlgün, M. Fatih} }
APA Torun, T , İlgün, M . (2018). Finansal Gelişme Üzerinde Politik Faktörlerin Etkisi: Az Gelişmiş ve Gelişmekte Olan Ülkelere Yönelik Bir Analiz. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, 13 (3), 181-204. DOI: 10.17153/oguiibf.443146
MLA Torun, T , İlgün, M . "Finansal Gelişme Üzerinde Politik Faktörlerin Etkisi: Az Gelişmiş ve Gelişmekte Olan Ülkelere Yönelik Bir Analiz". Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi 13 (2018): 181-204 <http://dergipark.gov.tr/oguiibf/issue/41673/443146>
Chicago Torun, T , İlgün, M . "Finansal Gelişme Üzerinde Politik Faktörlerin Etkisi: Az Gelişmiş ve Gelişmekte Olan Ülkelere Yönelik Bir Analiz". Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi 13 (2018): 181-204
RIS TY - JOUR T1 - Finansal Gelişme Üzerinde Politik Faktörlerin Etkisi: Az Gelişmiş ve Gelişmekte Olan Ülkelere Yönelik Bir Analiz AU - Talip Torun , M. Fatih İlgün Y1 - 2018 PY - 2018 N1 - doi: 10.17153/oguiibf.443146 DO - 10.17153/oguiibf.443146 T2 - Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi JF - Journal JO - JOR SP - 181 EP - 204 VL - 13 IS - 3 SN - 1306-6730- M3 - doi: 10.17153/oguiibf.443146 UR - https://doi.org/10.17153/oguiibf.443146 Y2 - 2018 ER -
EndNote %0 Eskişehir Osmangazi University Journal of Economics and Administrative Sciences Finansal Gelişme Üzerinde Politik Faktörlerin Etkisi: Az Gelişmiş ve Gelişmekte Olan Ülkelere Yönelik Bir Analiz %A Talip Torun , M. Fatih İlgün %T Finansal Gelişme Üzerinde Politik Faktörlerin Etkisi: Az Gelişmiş ve Gelişmekte Olan Ülkelere Yönelik Bir Analiz %D 2018 %J Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi %P 1306-6730- %V 13 %N 3 %R doi: 10.17153/oguiibf.443146 %U 10.17153/oguiibf.443146
ISNAD Torun, Talip , İlgün, M. Fatih . "Finansal Gelişme Üzerinde Politik Faktörlerin Etkisi: Az Gelişmiş ve Gelişmekte Olan Ülkelere Yönelik Bir Analiz". Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi 13 / 3 (December 2019): 181-204. https://doi.org/10.17153/oguiibf.443146