Results
Title

Finansal Gelişmişlik ve İnsani Gelişmişlik Arasındaki İlişki: Kırılgan Beşli Ülkeler Örneği.

Authors

Karpuz, Esra; Yangil, Fulya Mısırdalı

Abstract

This study aims to examine the impact of human development components on financial development in India, Indonesia, Brazil, Turkey and South Africa grouped as fragile five countries for the 2003-2020 period. In this context, the data of these countries are analyzed with Panel Regression Models in the study. The dependent variable of the study is the Financial Development Index created by the International Monetary Fund (IMF). The independent variables are the Human Development Index (HDI) and its components Gender Development Index (GDI) and Gender Inequality Index (GII) developed by the United Nations Development Program (UNDP). According to the analysis findings, the effect of Human Development Index (HDI) and Gender Development Index (GDI) on Financial Development Index (FDI) is statistically significant and positive at the level of 5% (p<0.05). In addition, the high Gender Inequality Index (GII) represents the high level of gender-based inequality, and the effect of this index on financial development is statistically significant and negative at the level of 10% (p<0.10). On the other hand, stock market transaction value, which is used as control variables, has a statistically significant and positive effect on the Financial Development Index. On the contrary, other control variables which are market capitalization (MC) and domestic savings (SAV) don't have a statistically significant effect on the Financial Development Index of countries. It is expected that the findings will be beneficial for policy makers of the fragile five countries in sustaining the parallel rise of financial development and human development.

Subjects

UNITED Nations Development Programme; GENDER Inequality Index; STATISTICAL significance; HUMAN Development Index; STOCK transfer; MARKET capitalization

Publication

Turkish Studies - Economics, Finance, Politics, 2023, Vol 18, Issue 4, p1449

ISSN

2667-5625

Publication type

Academic Journal

DOI

10.7827/TurkishStudies.70207