Measuring Multidimensional Growth in Turkey: Sustainable and Inclusive Economic Growth (sieg) Index

Demet Özocaklı
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Demet Özocaklı: Gaziantep University

Journal of Finance Letters (Maliye ve Finans Yazıları), 2025, vol. 40, issue 124, 103-121

Abstract: This study develops a multidimensional index that includes sustainability and inclusiveness as well as quantitative measures to assess türkiye's growth performance. The sustainable and inclusive economic growth (sieg) index brings together economic, social and sustainability indicators in a holistic framework. The index is built on ten variables, including education level, income inequality, labour force participation of women and youth, r&d expenditures, labour productivity and the share of renewable energy. The sieg index created by using principal component analysis was constructed with data covering the years 1992-2023. The results show that türkiye's long-term growth has faced significant disruptions in terms of sustainability and inclusiveness, with a more pronounced structural transformation emerging after 2010. The study suggests that growth policies should emphasise qualitative and inclusive approaches rather than focusing solely on gdp. The sieg index provides a powerful decision support tool for policymakers.

Keywords: Sustainable Economic Growth; Inclusive Economic Growth; Principal Component Analysis (search for similar items in EconPapers)
JEL-codes: C38 C43 O44 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:acc:malfin:v:40:y:2025:i:124:p:103-121

DOI: 10.33203/mfy.1710133

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