Turkiye ve Guney Kore Ekonomilerinde Yakinsama: Mikro ve Makro Gozlemler

Fatma Erdem and Cihan Yalcin

CBT Research Notes in Economics from Research and Monetary Policy Department, Central Bank of the Republic of Turkey

Abstract: [TR] 1980-2014 doneminde Guney Kore’nin (Kore) kisi basina milli geliri Turkiye’ninkinden iki kat daha hizli buyume kaydetmistir. Kore’nin basta toplam faktor verimliligi olmak uzere, ihracata dayali yatirim alanlarinda gostermis oldugu guclu performans soz konusu gelismede etkili olmustur. Kore’de uygulanan ekonomik politikalarin mikro duzeydeki olumlu yansimalari soz konusu ekonomik basarinin en onemli belirleyicilerindendir. Bu calismada ilk olarak iki ulkenin buyumelerindeki ayrismanin kaynaklari uretim faktorleri cercevesinde kisaca degerlendirilmistir. Daha sonra, iki ulkeye ozgu krizlerde firma satislarindaki degisimler, rekabet, uretim maliyetleri ve bilanco kanallari cercevesinde analiz edilmistir. Buna gore, 1997-1998 Dogu Asya krizinde guclu rekabet kazanimi ile maliyet ve bilanco kanallarindan kaynakli olumsuz etkilerin sinirli kalmasiyla Kore firmalarinin satislari daha az oranda olumsuz etkilenmistir. 2001 krizinde ise Turkiye’deki firma satislari rekabet kazancindan daha sinirli duzeyde yararlanirken ozellikle maliyet kaynakli olarak firma satislari olumsuz etkilenmistir. [EN] In the period of 1980-2014, per capita income in Korea grew over twofold faster than that of Turkey. Strong performances especially in total factor productivity and exports-led investments and witnessed by Korean economy are the main factors behind the divergence of growth rates among two countries. In addition, economic policy setup that has supported micro foundations, contributes to the success story in Korea. In this study, firstly we provide a short evaluation on the factors of production leading to the divergence of growth among two countries. Secondly, the reactions of firm sales during the country specific crises in the framework of competitiveness, production cost and balance sheets channels are analyzed. Accordingly, Korean firm sales seem to be affected to a lesser extent due to the 1997-1998 East Asia crisis given strong competitive gains of Korean exporters and limited transmissions from costs and balance sheets channels. On the contrary, firm sales in Turkey have benefited less from competitive gains in 2001 crisis while firm sales have been hit negatively by especially through cost channel.

Date: 2016
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