Journal of Economic Policy Researches

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DOI :10.26650/JEPR1299562   IUP :10.26650/JEPR1299562    Full Text (PDF)

The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses

İsmail Hakkı İşcan, Tuğba Demirel

This study investigates the complexities of the Kuznets, Financial Kuznets, and Stolper-Samuelson hypotheses, all of which hold fundamental positions in the literature. The primary objective is to scrutinize the intricate interplay among economic growth, financial development, trade openness, and income distribution inequality across nations and characterized by varying developmental stages. This analytical framework seeks to empirically evaluate the aforementioned hypotheses, specifically within the context of diverse clusters of countries. In this vein, a comprehensive investigation of the nexus connecting economic growth, financial development, trade openness, and income distribution inequality unfolds across a dataset encompassing 19 developing economies and 22 developed counterparts over the 2002-2019 period. The empirical assessment has been accomplished through a panel data analysis. The empirical findings shed light on distinctive patterns in the relationship between the specified economic factors and income inequality for the two distinct groups of countries. These empirical insights strengthen the validity of both the Kuznets and financial Kuznets hypotheses. However, the outcomes also exhibit a nuanced complexion in relation to the Stolper-Samuelson hypothesis. While the empirical underpinning within developed countries aligns with the Stolper-Samuelson premise, the observed outcomes in developing nations diverge from the tenets of the Stolper-Samuelson hypothesis, thereby introducing a layer of complexity to the overall findings.

Keywords: Kuznets hypothesis, financial Kuznets hypothesis, income distribution inequality, Stolper-Samuelson hypothesis, panel data analysis
JEL Classification : C12 , C23 , E10
DOI :10.26650/JEPR1299562   IUP :10.26650/JEPR1299562    Full Text (PDF)

Ticari Açıklık, Finansal Gelişme ve Ekonomik Büyüme ile Gelir Dağılımı Adaletsizliği İlişkisi: Kuznets ve Finansal Kuznets Hipotezi ile Stolper-Samuelson Hipotezinin Testi

İsmail Hakkı İşcan, Tuğba Demirel

Bu çalışmada, iktisat literatüründe önemli bir yere sahip olan Kuznets ve Finansal Kuznets ve Stolper-Samuelson hipotezleri kapsamında, ekonomik büyüme, finansal gelişme ve ticari açıklık ile gelir dağılımı eşitsizliği arasındaki ilişkinin farklı gelişmişlik seviyelerine sahip ülke ekonomileri için araştırılması ve ifade edilen hipotezlerin test edilmesi amaçlanmıştır. Buna göre 2002-2019 dönemi için gelişmekte olan 19 ülke ekonomisi ve gelişmiş 22 ülke ekonomisi için ticari açıklık, finansal gelişme ve ekonomik büyüme ile gelir dağılımı adaletsizliği arasındaki ilişki panel veri analiziyle araştırılmıştır. Analiz sonuçlarına göre 19 gelişmekte olan ülkede ticari açıklık %1 arttığında gelir dağılımı adaletsizliğini temsilen modelde kullanılan gini endeksi %0.13; finansal gelişmişlik %1 arttığında gini endeksi %0.27; ekonomik büyüme %1 arttığında ise gini endeksi %0.08 oranında artmaktadır. 22 gelişmiş ülkede ise ticari açıklık %1 arttığında gini endeksi %0.02; finansal gelişme %1 arttığında gini endeksi %0.05 azalmakta ve ekonomik büyüme %1 arttığında gini endeksi %0.001 oranında artmaktadır. Bu sonuçlar belirli bir gelişmişlik seviyesine kadar ekonomik büyüme ve finansal gelişmedeki artışların gelir dağılımı adaletsizliğini arttırdığını fakat belirli bir gelişmişlik seviyesinden sonra bu artışların gelir dağılımı adaletsizliğini azalttığını ifade eden Kuznets ve Finansal Kuznets hipotezlerini doğrular niteliktedir. Fakat çalışmada varılan sonuçlar, gelişmiş ülkeler için Stolper-Samuelson hipotezini doğrulamasına rağmen gelişmekte olan ülkeler için Stolper-Samuelson hipotezi için uyuşmayan bulgular içermektedir.

Keywords: Kuznets Hipotezi, Finansal Kuznets Hipotezi, Gelir Dağılımı Adaletsizliği, Stolper-Samuelson Hipotezi, Panel Veri Analizi
JEL Classification : C12 , C23 , E10

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APA

İşcan, İ.H., & Demirel, T. (2024). The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses. Journal of Economic Policy Researches, 11(1), 1-18. https://doi.org/10.26650/JEPR1299562


AMA

İşcan İ H, Demirel T. The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses. Journal of Economic Policy Researches. 2024;11(1):1-18. https://doi.org/10.26650/JEPR1299562


ABNT

İşcan, İ.H.; Demirel, T. The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses. Journal of Economic Policy Researches, [Publisher Location], v. 11, n. 1, p. 1-18, 2024.


Chicago: Author-Date Style

İşcan, İsmail Hakkı, and Tuğba Demirel. 2024. “The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses.” Journal of Economic Policy Researches 11, no. 1: 1-18. https://doi.org/10.26650/JEPR1299562


Chicago: Humanities Style

İşcan, İsmail Hakkı, and Tuğba Demirel. “The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses.” Journal of Economic Policy Researches 11, no. 1 (May. 2024): 1-18. https://doi.org/10.26650/JEPR1299562


Harvard: Australian Style

İşcan, İH & Demirel, T 2024, 'The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses', Journal of Economic Policy Researches, vol. 11, no. 1, pp. 1-18, viewed 7 May. 2024, https://doi.org/10.26650/JEPR1299562


Harvard: Author-Date Style

İşcan, İ.H. and Demirel, T. (2024) ‘The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses’, Journal of Economic Policy Researches, 11(1), pp. 1-18. https://doi.org/10.26650/JEPR1299562 (7 May. 2024).


MLA

İşcan, İsmail Hakkı, and Tuğba Demirel. “The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses.” Journal of Economic Policy Researches, vol. 11, no. 1, 2024, pp. 1-18. [Database Container], https://doi.org/10.26650/JEPR1299562


Vancouver

İşcan İH, Demirel T. The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses. Journal of Economic Policy Researches [Internet]. 7 May. 2024 [cited 7 May. 2024];11(1):1-18. Available from: https://doi.org/10.26650/JEPR1299562 doi: 10.26650/JEPR1299562


ISNAD

İşcan, İsmailHakkı - Demirel, Tuğba. “The Relationship Among Trade Openness, Financial Development and Economic Growth Indicators and Income Distribution Inequality: Testing the Kuznets, Financial Kuznets, and Stolper-Samuelson Hypotheses”. Journal of Economic Policy Researches 11/1 (May. 2024): 1-18. https://doi.org/10.26650/JEPR1299562



TIMELINE


Submitted19.05.2023
Accepted07.11.2023
Published Online16.02.2024

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