The relationship between financial development and economic growth has been theoretically and empirically discussed in the literature. There is no consensus about how financial development is quantified. In this study, departing from previous studies in the literature, four variables that have been frequently urged as proxy of financial development, was reduced one with principal component analyses. Furthermore, cointegration test, estimation of VEC model and Granger causality analyses was employed with the time span of 1986:1-2015:3. Since inconsistent findings about causal relation was achieved, the Toda-Yamamoto procedure was followed as well. As result of all analyses bidirectional causal relation was found both short and long term.
The advanced of the Internet has empowered consumers. Consumers can access a virtually unlimited selection of products, brands, and sellers. They can switch brands or try different products in a single click. Internet shopping sites must be a wide range of products to attract consumers and influence their shopping decisions.
ÖZET: Dünya ve Türkiye'de önemi giderek artan hizmet sektörünün ticaretindeki faktör bileşenleri konusunda yapılan çalışmalar oldukça yetersizdir. Heckscher-Ohlin modeli, ülkeler arasındaki ticaretin şeklini ticari malların faktör bileşenlerine dayandırarak teorik olarak güçlü bir şekilde açıklamasına rağmen, teorinin ampirik geçerliliği araştırmacılar tarafından hala sorgulanmaktadır. Bu çalışmada, 2002 yılı girdi-çıktı ve ithalat kullanım tablosu verileri kullanılarak Türkiye'nin hizmet ticaretinin Heckscher-Ohlin modelinde öngörüldüğü gibi gerçekleşip gerçekleşme-diği incelenmiştir. Net nihai talep ve tamamlayıcı ithalat yaklaşımlarına dayanılarak yapılan hesaplamalar sonucunda, Türk hizmetler sektöründe dış ticaret ile faktör yoğunluğu arasındaki ilişkinin teoride öngörüldüğü doğrultuda geliştiği; göreceli olarak emek yoğun hizmetlerin ihraç, sermaye yoğun hizmetlerin ise ithal edildiği tespit edilmiştir.Anahtar Kelimeler: Heckscher-Ohlin Modeli; Türk Hizmetler Sektörü; Girdi-Çıktı Analizi ABSTRACT: Although the service sector has increasingly gained importance both in the world and in Turkey, there are few studies on factor contents of trade in service sectors. While the Heckscher-Ohlin model can strongly predict the pattern of trade across countries, its empirical testing has still be discussed by researches. This study investigates whether trade in the service sector of Turkey runs in the direction that the Heckscher-Ohlin theory predicts using 2002 input-output and import use tables of Turkey. The results using the net final demand approach and the complementary import approach reveal that the relationship between foreign trade and factor intensity is in accordance with the predictions of the theory that while Turkey' exports include relatively labor intensive goods, its imports include relatively capital intensive goods.
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