Finansal Gelişme ve Teknolojik Yenilik İlişkisi: Gelişmekte Olan ve Gelişmiş Ülkeler Üzerine Ampirik Bir İnceleme

Serap Soydan; Serap Barış

doi:10.52791/aksarayiibd.1807455

EN TR

The Relationship between Financial Development and Innovation: An Empirical Study on Developing and Developed Countries

Abstract

Innovation has emerged as one of the key factors providing a competitive advantage for countries and firms in today's global environment. In this context, identifying the factors that influence innovation is of great importance. Although creative ideas and inventions play a critical role in the innovation process, financial resources are required to commercialize these ideas and bring them to market. However, a review of the literature reveals that the relationship between innovation and financial development has been largely overlooked in many empirical studies. In this study, this relationship was examined within a theoretical and empirical framework. In the research using panel data analysis processes, data from 14 developing and 17 developed countries for the period 1980-2019 were used. Alternative and more robust estimators such as Beck-Kats, Parks-Kmenta and Driscoll-Kraay were used in estimating the models. As a result of the analysis, it was concluded that financial development has a generally significant but negative effect on innovations. These results provide important clues for the business world and policy makers in both developed and developing countries. Evaluations and recommendations are included in the conclusion section.

Keywords

Finansal Gelişme ve Teknolojik Yenilik İlişkisi: Gelişmekte Olan ve Gelişmiş Ülkeler Üzerine Ampirik Bir İnceleme

Öz

Yenilik, günümüzde ülkeler ve firmalar açısından rekabet avantajı sağlayan temel unsurlardan biri olarak öne çıkmaktadır. Bu bağlamda, yenilikleri etkileyen faktörlerin belirlenmesi büyük önem taşımaktadır. Her ne kadar yaratıcı fikirler ve icatlar yenilik sürecinde kritik rol oynasa da bu fikirlerin ticarileştirilmesi ve pazara sunulması için finansmana ihtiyaç duyulmaktadır. Ancak literatür incelendiğinde, yenilik ile finansal gelişme arasındaki ilişkinin çoğu ampirik çalışmada yeterince ele alınmadığı görülmektedir. Bu çalışmada, söz konusu ilişki teorik ve ampirik çerçevede incelenmiştir. Panel veri analiz süreçlerinin kullanıldığı araştırmada, 14 gelişmekte olan ve 17 gelişmiş ülkenin 1980-2019 dönemine ait verileri kullanılmıştır. Modellerin tahmininde Beck-Kats, Parks-Kmenta ve Driscoll-Kraay gibi alternatif ve daha dirençli tahminciler kullanılmıştır. Yapılan analizler sonucunda, finansal gelişmenin yenilikler üzerinde genel olarak anlamlı, ancak negatif yönlü etkisi olduğu sonucuna ulaşılmıştır. Bu sonuçlar, gerek gelişmiş gerekse gelişmekte olan ülkelerin iş dünyası ve politika yapıcıları için önemli ipuçları sunmaktadır. Değerlendirme ve önerilere sonuç kısmında yer verilmiştir.

Anahtar Kelimeler

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Details

Primary Language

Turkish

Subjects

International Economics (Other)

Journal Section

Research Article

Authors

Serap Soydan ^*
0000-0003-2509-7374
Türkiye

Serap Barış
0000-0003-3905-4746
Türkiye

Publication Date

March 26, 2026

Submission Date

October 21, 2025

Acceptance Date

December 19, 2025

Published in Issue

Year 2026 Volume: 18 Number: 1

DOI

https://doi.org/10.52791/aksarayiibd.1807455

IZ

https://izlik.org/JA97SH57AH

Cite

RIS / Bibtex

APA

Soydan, S., & Barış, S. (2026). Finansal Gelişme ve Teknolojik Yenilik İlişkisi: Gelişmekte Olan ve Gelişmiş Ülkeler Üzerine Ampirik Bir İnceleme. Aksaray Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 18(1), 19-36. https://doi.org/10.52791/aksarayiibd.1807455