RELATIONSHIP BETWEEN COMPETITION AND FINANCIAL DEVELOPMENT IN COUNTRIES: COMPARISON OF TURKEY-BRICS COUNTRIES

Authors : Burak BÜYÜKOĞLU, Ahmet ŞİT, Burcu BUYURAN

Pages : 356-378

Doi:10.14520/adyusbd.1231621

View : 69 | Download : 9

Publication Date : 2023-04-19

Article Type : Research Paper

Abstract :The purpose of this study is to examine the impact of competition on the financial development of countries. For this purpose, Turkey, and BRICS countries insert ignore into journalissuearticles values(Brazil, Russia, India, China, South Africa); were selected as sample countries for the study. A 17-year dataset was created with country data from 2005 to 2021 as the time period. The competitiveness factor is included in the analysis as an independent variable, using data from the Global Competitiveness Index published by the World Bank. The indices of the most traded stocks on the stock exchanges, which represent the financial performance of countries, were used as the dependent variable. The methods used in the study were the Westerlund cointegration test, Augmented Mean Group insert ignore into journalissuearticles values(AMG); estimation and Common Correlated Effects insert ignore into journalissuearticles values(CCE); estimation. The analyzes conducted showed that competition has a positive and significant impact on the financial performance of the sample countries.
Keywords : Rekabet, Finansal Gelişme, BRICS Ülkeleri ve Türkiye, Ortalama Grup Tahmincisi

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