Finansal derinleşmede bireysel emeklilik sisteminin rolü: Türkiye üzerine ampirik bir uygulama
Küçük Resim Yok
Tarih
2024
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Niğde Ömer Halisdemir Üniversitesi
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Bireylerin emeklilik dönemlerinde, sosyal güvenlik sisteminin yetersiz kalması, yeni bir sosyal güvenlik sistemi arayışına girilmesine sebep olmuş, böylece bireysel emeklilik sistemi ortaya çıkmıştır. Bireysel emeklilik sistemi bu yönü ile sosyal güvenlik sisteminin tamamlayıcısı niteliğini taşımaktadır. Bu sistem, bireylerin çalışabildikleri dönemde elde ettikleri tasarrufları bireysel emeklilik fonlarına aktararak emeklilik dönemlerinde ek gelir sağlama fırsatı sunmaktadır. Bununla beraber, elde edilen bu gelir ile standartları yükselen bireyler yatırıma yönelebilmektedir. Böylece finansal aracıların ve finansal araçların çeşitlenip yaygınlaşması anlamına gelen finansal derinleşmeyi arttırabilmekte ve yatırımda bulunmak isteyen girişimciler ile bireysel emeklilik sistemi arasında fon transferi sağlanabilmektedir. Bu çalışma, Türkiye'de 2006Q4-2024Q1 arası çeyreklik verileri kullanılarak finansal derinleşmede bireysel emeklilik sisteminin rolünü araştırmaktadır. Bunun için çalışmada finansal derinleşme göstergesi olarak M2 para arzı ve bireysel emeklilik göstergesi olarak bireysel emeklilik katılımcılarının fon tutarı değişken olarak kullanılmış, bu değişkenler zaman serisi yöntemi olan ARDL sınır testi yaklaşımı ve Granger Nedensellik testi kullanılarak analiz edilmiştir. Yapılan analiz sonucunda BES fonlarının tutarındaki artışın, finansal derinleşmeyi artırdığı sonucuna ulaşılmıştır. Yapılacak olan devlet desteği ve teşvikleriyle BES'e olan katılım artacak bu da fonların artmasına neden olacaktır. Bu durumda finansal sisteme önemli ölçüde kaynak sağlayıp sistemin gelişmesine neden olacaktır. Böylece finansal derinleşme de artacaktır. Özetle BES'in artmasının finansal derinleşmeyi pozitif yönde etkilediği sonucuna ulaşılmıştır. Yapılan Granger nedensellik test sonuçları da bu sonuçları destekler nitelikte olup BES'in finansal derinleşmenin Granger nedenseli olduğu görülmüştür.
The inadequacy of the social security system during the retirement periods of individuals caused a search for a new social security system, and thus the individual retirement system emerged. The individual retirement system is complementary to the social security system in this respect. This system offers individuals the opportunity to provide additional income during their retirement periods by transferring the savings they have earned during their working period to individual retirement funds. In addition, individuals with higher standards can turn to investment with this income. Thus, financial deepening, which means the diversification and expansion of financial intermediaries and financial instruments, can be increased, and fund transfers can be provided between entrepreneurs who want to invest and the individual retirement system. This study investigates the role of the individual retirement system in financial deepening using quarterly data between 2006Q4-2024Q1 in Türkiye. For this purpose, M2 money supply was used as an indicator of financial deepening in the study and the fund amount of individual retirement participants as an indicator of individual retirement were used as variables, and these variables were analyzed using the ARDL bounds test approach and Granger Causality test, which are time series methods. As a result of the analysis, it was concluded that the increase in the amount of the individual retirement system funds increased financial deepening. With the government support and incentives, participation in the individual retirement system will increase, which will lead to an increase in funds. In this case, it will provide significant resources to the financial system and cause the system to develop. Thus, financial deepening will also increase. In summary, it has been concluded that the increase in the individual retirement system positively affects financial deepening. The Granger causality test results also support these results and it has been seen that the individual retirement system is the Granger causal factor of financial deepening.
The inadequacy of the social security system during the retirement periods of individuals caused a search for a new social security system, and thus the individual retirement system emerged. The individual retirement system is complementary to the social security system in this respect. This system offers individuals the opportunity to provide additional income during their retirement periods by transferring the savings they have earned during their working period to individual retirement funds. In addition, individuals with higher standards can turn to investment with this income. Thus, financial deepening, which means the diversification and expansion of financial intermediaries and financial instruments, can be increased, and fund transfers can be provided between entrepreneurs who want to invest and the individual retirement system. This study investigates the role of the individual retirement system in financial deepening using quarterly data between 2006Q4-2024Q1 in Türkiye. For this purpose, M2 money supply was used as an indicator of financial deepening in the study and the fund amount of individual retirement participants as an indicator of individual retirement were used as variables, and these variables were analyzed using the ARDL bounds test approach and Granger Causality test, which are time series methods. As a result of the analysis, it was concluded that the increase in the amount of the individual retirement system funds increased financial deepening. With the government support and incentives, participation in the individual retirement system will increase, which will lead to an increase in funds. In this case, it will provide significant resources to the financial system and cause the system to develop. Thus, financial deepening will also increase. In summary, it has been concluded that the increase in the individual retirement system positively affects financial deepening. The Granger causality test results also support these results and it has been seen that the individual retirement system is the Granger causal factor of financial deepening.
Açıklama
Sosyal Bilimler Enstitüsü, Bankacılık ve Finans Ana Bilim Dalı
Anahtar Kelimeler
Bankacılık, Banking
