Research Article
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Empirical Evidence for The Validity of The Financial Convergence Hypothesis Under Structural Breaks

Year 2023, Volume: 8 Issue: 21, 584 - 599, 30.06.2023

Soner Künç Süleyman Çelik Seyhun Tutgun

https://doi.org/10.25204/iktisad.1299962
Cited By: 1

Abstract

Convergence hypotheses can be empirically tested on a variety of macroeconomic variable thanks to the advancement of economic and statistical theories. In recent years, the validity of the convergence hypothesis has been started to be analyzed for the financial systems as well as the interest rate, exchange rate, unemployment rate indicators of the countries. The aim of this study is to analyze how the financial development levels of Brazil, Russia, India, China, South Africa and Turkey, which are expressed as BRICS-T, converge to the USA, which is considered as the dominant country in the field of finance. Structural break unit root tests for the BRICS-T countries were conducted to evaluate the validity of the theory. Brazil demonstrated financial concerns after 2000, despite convergence and divergence occurring up until 1998 between 1984 and 2020. Russia separated till the 2000s before returning to the convergence trend after 2010 despite having had a major break in the 1990s. Up until the 2000s, Turkey, China, South Africa, and India generally adopted different paths, but it is clear that financial convergence started to happen following that year. Overall, it was determined that all of the BRICS-T nations began to experience convergence after the 2000s, but at varying rates.

Keywords

Convergence Financial Development BRICS Countries Türkiye

References

  • Abramovitz, M. (1986). Catching up, forging ahead, and falling behind. The Journal of Economic History, 46(2), 385-406.
  • Açdoyuran, B. (2020). Finansal yakınsama: Yükselen piyasa ekonomileri üzerine ampirik bir analiz (Yayımlanmamış Doktora Tezi). Necmettin Erbakan Üniversitesi Sosyal Bilimler Enstitüsü. Konya.
  • Affinito, M. (2011). Convergence clubs, the Euro-area rank and the relationship between banking and real convergence. Bank of Italy Temi di Discussione Working Paper, No: 809.
  • Ahmad, W., Sehgal, S., ve Bhanumurthy, N. R. (2013). Eurozone crisis and BRICS stock markets: Contagion or market interdependence? Economic Modelling, 33, 209–225.
  • Antzoulatos, A. A., Panopoulou, E., ve Tsoumas, C. (2011). Do financial systems converge? Review of International Economics, 19(1), 122- 136.
  • Apergis, N., Christou, C., ve Miller, S. (2012). Convergence patterns in financial development: evidence from club convergence. Empirical Economics, 43(3), 1011-1040.
  • Bahadır, B., ve Valev, N. (2015). Financial development convergence. Journal of Banking and Finance, 56, 61-71.
  • Barro, R. J., ve Sala-i-Martin, X. (1992). Convergence. Journal of Political Economy, 100(2), 223-251.
  • Bartiloro, L., ve De Bonis, R. (2005). The financial systems of european countries: Theoretical issues and empirical evidence. Irving Fisher Committee Bulletin, 21(2), 1-19.
  • Baumol, W. J. (1986). Productivity growth, convergence and welfare: What the long-run data show. The American Economic Review, 76, 1072- 1085.
  • Bayat, T., Bağcı, A., ve Taşar, İ. (2019). Finansal gelişmeye yönelik bir yakınsama analizi, Esma Gültekin Tarla ve Yavuz Özek (Ed). Para ve finans kavramları üzerine incelemeler içinde (s.87-97). Ekin Basın Yayın Dağıtım. Ankara.
  • Bernard, A. B., ve Durlauf, S. N. (1996). Interpreting tests of the convergence hypothesis. Journal of Econometrics, 71(1-2), 161-173.
  • Bruno, G., ve De Bonis, R. (2009). Do financial systems converge? New Evidence from Household Financial Assets in Selected OECD Countries. Proceedings of the IFC Conference on, 31, 383-401.
  • Bruno, G., De Bonis, R., ve Silvestrini, A. (2012). Do financial systems converge? New evidence from financial assets in oecd countries. Journal of Comparative Economics, 40(1), 141-155.
  • Carlino, Gerald A., ve Mills Leonard. O. (1993). Are U.S. regional incomes converging?. Journal of Monetary Economics, 32(2), 335-346.
  • Ceylan, R. (2010). Yakınsama hipotezi: Teorik tartışmalar, Sosyo-Ekonomi (Ocak-Haziran), 2010-1, 48-60.
  • Chansomphou, V., ve Ichihashi, M. (2013). Structural change, labor productivity growth, and convergence of BRIC countries (No. 3-5). Hiroshima University, Graduate School for International Development and Cooperation (IDEC).
  • Dekle, R., ve Pundit, M. (2016). The recent convergence of financial development in asia. Emerging Markets Finance and Trade, 52(5), 1106-1120.
  • Das, R. C., Das, U., ve Das, A. (2021). BRICS nations and income convergence: An insight from the quarterly data for 2006Q1–2017Q2. Global Business Review, 22(4), 1054-1069.
  • Di Giacinto, V., ve Esposito, L. (2005). Convergence of financial structures in Europe: An application of factorial matrix analysis. In Financial Accounts: History, Methods, the Case of Italy ve International Comparisons Conference, 1–2 December, Perugia, Italy.
  • Durlauf, S. N., ve Johnson, P. A. (1995). Multiple regimes and cross-country growth behavior, Journal of Applied Econometrics, 10(4), 365–84.
  • Elmslie, B. T. (1995). Retrospectives: the convergence debate between David Hume and Josiah Tucker. Journal of Economic Perspectives, 9(4), 207-216.Friedman, M. (1993). The plucking model of business fluctuations revisited. Economic Inquiry, 31(2), 171-177.
  • Fung, M. K. (2009). Financial development and economic growth: Convergence or divergence? Journal of International Money and Finance, 28(1), 56-67.
  • Gabrisch, H., ve Orlowski, L. T. (2010). Interest rate convergence in Euro-candidate countries: Volatility dynamics of sovereign bond yields. Emerging Markets Finance and Trade, 46(6), 69-85.
  • Galor, O. (1996), Convergence? Inference from theoretical models, Economic Journal, 206, 1056–1069.
  • Herrmann, S., ve Winkler, A. (2009). Real convergence, financial markets, and the current account–emerging europe versus emerging Asia. The North American Journal of Economics and Finance, 20(2), 100-123.
  • Karhan, G., ve Aydın, H. İ. (2018). Petrol fiyatları, kur ve hisse senedi getirileri üzerine bir araştırma, Akademik Araştırmalar ve Çalışmalar Dergisi, 10(19), 405-413. https://doi.org/10.20990/kilisiibfakademik.454782
  • Lee, J., ve Strazicich, M. C. (2003). Minimum lagrange multiplier unit root test with two structural breaks, Review of Economics And Statistics, 85(4), 1082-1089.
  • Lohani, K. K. (2021). Trade and convergence: Empirical evidence from BRICS countries. Global Business Review, 0972150921993057.
  • Lucas Jr, R. E. (1988). On the mechanics of economic development. Journal of Monetary Economics, 22(1), 3-42.
  • Mensi, W., Hkiri, B., Al-Yahyaee, K. H., ve Kang, S. H. (2018). Analyzing time-frequency co-movements across gold and oil prices with BRICS stock markets: A VAR based on wavelet approach. International Review of Economics ve Finance, 54, 74-102.
  • Mo, B., Chen, C., Nie, H., ve Jiang, Y (2019). Visiting Effects of crude oil price on economic growth in BRICS countries: Fresh evidence from wavelet-based quantile-on-quantile tests. Energy, 178, 234-251.
  • Mukherjee, P., Bhattacharya, P., ve Roy Chowdhury, S. (2022). Financial liberalization and convergence of financial development among BRICS economies. In Revisiting the Indian Financial Sector: Recent Issues and Perspectives, 85-118. Singapore: Springer Nature Singapore.
  • Murinde, V., Agung, J., ve Mullineux, A. (2004). Patterns of corporate financing and financial system convergence in europe. Review of International Economics, 12(4), 693-705.
  • Nişancı, M., ve Emsen, Ö. S. (2014). Ekonomik performans kriteri olarak maastrich kriterlerine yakınsama: Geçiş ekonomileri üzerine uygulama, Internatıonal Conference On Eurasian Economies.
  • Özek, Y., ve Ergür, H. O. (2020). Kırılgan beşli ülkelerinde finansal yakınsamanın birim kök testleri ile analizi. Kesit Akademi Dergisi, 6(23), 237-245. https://doi.org/10.29228/kesit.42779
  • Polat, F. (2019). Avrupa birliği üyesi ülkeler ve Türkiye arasında GSYH açısından yakınsama analizi çalışması (Yayınlanmamış Yüksek Lisans Tezi), İstanbul Üniversitesi Sosyal Bilimler Enstitüsü. İstanbul.
  • Quah, D. (1990). International patterns of growth: Persistence in cross-country disparities. MIT Working Paper Series.
  • Rassekh, F. (1998). The convergence hypothesis: History, theory, and evidence, Open Economies Review, 9, 85–105.
  • Romer, P. M. (1986). Increasing returns and long-run growth. Journal of Political Economy, 94(5), 1002-1037.
  • Rughoo, A., ve Sarantis, N. (2014). The global financial crisis and integration in European retail banking, Journal of Banking and Finance, 40, 28-41.
  • Sachs, J., ve Andrew M. Warner (1995), Economic convergence and economic policies, NBER Working Paper, No: 5039.
  • Sala-i Martin, X. (1996). Regional cohesion: Evidence and theories of regional growth and convergence, European Economic Review, 40, 1325–52.
  • Samargandi, N., ve Kutan, A. M. (2016). Private credit spillovers and economic growth: Evidence from BRICS countries. Journal of International Financial Markets, Institutions and Money, 44, 56-84.
  • Sapmaz, A. S. (2019). Avro bölgesine dâhil olmayan AB ülkelerinin Almanya ile Maastricht kriterleri çerçevesinde yakınsama analizi. Marmara Üniversitesi Avrupa Araştırmaları Enstitüsü.
  • Slaughter, M. T. (1997). Per capita income convergence and the role of international trade, American Economic Review, 87(2), 194–199.
  • Solow, R. M. (1956). A contribution to the theory of economic growth. The Quarterly Journal of Economics, 70(1), 65-94.
  • Stolbov, M. ve Veysov, A. (2011). Do financial systems converge? A comprehensive panel data approach and new evidence from a dataset for 102 countries. MPRA, No: 36103, https://mpra.ub.uni-muenchen.de/36103.
  • Svirydzenka, K. (2016). Introducing a new broad-based index of financial development. IMF Working Paper WP/16/5.
  • Tinbergen, J. (1959). Comparative studies of economic growth. In The Comparative Study of Economic Growth and Structure NBER, pp.193-201.
  • Uğur, A., ve Bingöl, N. (2021). Finansal yakınsama olgusu: Türkiye ile G7 ülkeleri arasında finansal yakınsamanın analizi. Adıyaman Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 14(37), 125-156.
  • Wang, L., Ma, F., Niu, T. ve He, C. (2019). Crude oil and BRICS stock markets under extreme shocks: New evidence. Economic Modelling. https://doi.org/10.1016/j.econmod.2019.06.002
  • You, P., Sun, Y., ve An, L. (2017). Nominal and real stochastic convergence of the BRICS economies. Review of Economic and Business Studies, 10(2), 9-28.
  • Zivot, E., ve Andrews, D. W. K. (1992). Further evidence on the great crash, the oil price shock, and the unit-root hypothesis. Journal of Business ve Economic Statistics 10(3), 251-270.

Yapısal Kırılmalar Altında Finansal Yakınsama Hipotezinin Geçerliliğine Yönelik Ampirik Kanıtlar

Year 2023, Volume: 8 Issue: 21, 584 - 599, 30.06.2023

Soner Künç Süleyman Çelik Seyhun Tutgun

https://doi.org/10.25204/iktisad.1299962
Cited By: 1

Abstract

İktisadi ve istatistiksel teorilerin gelişmesi ile birlikte yakınsama hipotezleri birçok makroekonomik değişken üzerinde ampirik olarak uygulanabilmektedir. Son yıllarda ülkelerin faiz oranı, döviz kuru, işsizlik oranı göstergelerinin yanında finans sistemleri için de yakınsama hipotezinin geçerliliği analiz edilmeye başlanmıştır. Bu çalışmanın amacı, BRICS-T olarak adlandırılan/ifade edilen Brezilya, Rusya, Hindistan, Çin, Güney Afrika ve Türkiye’nin finansal gelişim seviyelerinin finans alanında başat ülke olarak kabul edilen ABD’ye ne düzeyde yakınsadıklarını analiz etmektedir. Ülkelerin finansal gelişim endeksleri temel gösterge olarak ele alınmıştır. Hipotezin geçerliliğinin sınanması için BRICS-T ülkelerine yönelik yapısal kırılmalı birim kök testleri kullanılmıştır. 1984-2020 yılları arası dönemde Brezilya 1998 yılına kadar önce yakınsama sonra ıraksama durumu içinde iken 2000 sonrası dönemde finansal yakınmasa göstermektedir. Rusya, 1990’lı yıllarda keskin kırılma yaşayarak yakınsama içinde olsa da 2000’li yıllara kadar ıraksama yaşayıp 2010’dan sonra tekrar yakınsama trendine girmektedir. Çin, Güney Afrika, Hindistan ve Türkiye genel olarak 2000’li yıllara kadar ıraksama yönünde seyir izlerken 2000 sonrasında ise finansal yakınsamanın gerçekleştiği görülmektedir. Genel olarak bütün BRICS-T ülkelerinin farklı seviyelerde de olsa 2000’li yıllardan sonra yakınsama trendine girdikleri sonucuna ulaşılmıştır.

Keywords

Yakınsama Finansal Gelişme BRICS Ülkeleri Türkiye

References

  • Abramovitz, M. (1986). Catching up, forging ahead, and falling behind. The Journal of Economic History, 46(2), 385-406.
  • Açdoyuran, B. (2020). Finansal yakınsama: Yükselen piyasa ekonomileri üzerine ampirik bir analiz (Yayımlanmamış Doktora Tezi). Necmettin Erbakan Üniversitesi Sosyal Bilimler Enstitüsü. Konya.
  • Affinito, M. (2011). Convergence clubs, the Euro-area rank and the relationship between banking and real convergence. Bank of Italy Temi di Discussione Working Paper, No: 809.
  • Ahmad, W., Sehgal, S., ve Bhanumurthy, N. R. (2013). Eurozone crisis and BRICS stock markets: Contagion or market interdependence? Economic Modelling, 33, 209–225.
  • Antzoulatos, A. A., Panopoulou, E., ve Tsoumas, C. (2011). Do financial systems converge? Review of International Economics, 19(1), 122- 136.
  • Apergis, N., Christou, C., ve Miller, S. (2012). Convergence patterns in financial development: evidence from club convergence. Empirical Economics, 43(3), 1011-1040.
  • Bahadır, B., ve Valev, N. (2015). Financial development convergence. Journal of Banking and Finance, 56, 61-71.
  • Barro, R. J., ve Sala-i-Martin, X. (1992). Convergence. Journal of Political Economy, 100(2), 223-251.
  • Bartiloro, L., ve De Bonis, R. (2005). The financial systems of european countries: Theoretical issues and empirical evidence. Irving Fisher Committee Bulletin, 21(2), 1-19.
  • Baumol, W. J. (1986). Productivity growth, convergence and welfare: What the long-run data show. The American Economic Review, 76, 1072- 1085.
  • Bayat, T., Bağcı, A., ve Taşar, İ. (2019). Finansal gelişmeye yönelik bir yakınsama analizi, Esma Gültekin Tarla ve Yavuz Özek (Ed). Para ve finans kavramları üzerine incelemeler içinde (s.87-97). Ekin Basın Yayın Dağıtım. Ankara.
  • Bernard, A. B., ve Durlauf, S. N. (1996). Interpreting tests of the convergence hypothesis. Journal of Econometrics, 71(1-2), 161-173.
  • Bruno, G., ve De Bonis, R. (2009). Do financial systems converge? New Evidence from Household Financial Assets in Selected OECD Countries. Proceedings of the IFC Conference on, 31, 383-401.
  • Bruno, G., De Bonis, R., ve Silvestrini, A. (2012). Do financial systems converge? New evidence from financial assets in oecd countries. Journal of Comparative Economics, 40(1), 141-155.
  • Carlino, Gerald A., ve Mills Leonard. O. (1993). Are U.S. regional incomes converging?. Journal of Monetary Economics, 32(2), 335-346.
  • Ceylan, R. (2010). Yakınsama hipotezi: Teorik tartışmalar, Sosyo-Ekonomi (Ocak-Haziran), 2010-1, 48-60.
  • Chansomphou, V., ve Ichihashi, M. (2013). Structural change, labor productivity growth, and convergence of BRIC countries (No. 3-5). Hiroshima University, Graduate School for International Development and Cooperation (IDEC).
  • Dekle, R., ve Pundit, M. (2016). The recent convergence of financial development in asia. Emerging Markets Finance and Trade, 52(5), 1106-1120.
  • Das, R. C., Das, U., ve Das, A. (2021). BRICS nations and income convergence: An insight from the quarterly data for 2006Q1–2017Q2. Global Business Review, 22(4), 1054-1069.
  • Di Giacinto, V., ve Esposito, L. (2005). Convergence of financial structures in Europe: An application of factorial matrix analysis. In Financial Accounts: History, Methods, the Case of Italy ve International Comparisons Conference, 1–2 December, Perugia, Italy.
  • Durlauf, S. N., ve Johnson, P. A. (1995). Multiple regimes and cross-country growth behavior, Journal of Applied Econometrics, 10(4), 365–84.
  • Elmslie, B. T. (1995). Retrospectives: the convergence debate between David Hume and Josiah Tucker. Journal of Economic Perspectives, 9(4), 207-216.Friedman, M. (1993). The plucking model of business fluctuations revisited. Economic Inquiry, 31(2), 171-177.
  • Fung, M. K. (2009). Financial development and economic growth: Convergence or divergence? Journal of International Money and Finance, 28(1), 56-67.
  • Gabrisch, H., ve Orlowski, L. T. (2010). Interest rate convergence in Euro-candidate countries: Volatility dynamics of sovereign bond yields. Emerging Markets Finance and Trade, 46(6), 69-85.
  • Galor, O. (1996), Convergence? Inference from theoretical models, Economic Journal, 206, 1056–1069.
  • Herrmann, S., ve Winkler, A. (2009). Real convergence, financial markets, and the current account–emerging europe versus emerging Asia. The North American Journal of Economics and Finance, 20(2), 100-123.
  • Karhan, G., ve Aydın, H. İ. (2018). Petrol fiyatları, kur ve hisse senedi getirileri üzerine bir araştırma, Akademik Araştırmalar ve Çalışmalar Dergisi, 10(19), 405-413. https://doi.org/10.20990/kilisiibfakademik.454782
  • Lee, J., ve Strazicich, M. C. (2003). Minimum lagrange multiplier unit root test with two structural breaks, Review of Economics And Statistics, 85(4), 1082-1089.
  • Lohani, K. K. (2021). Trade and convergence: Empirical evidence from BRICS countries. Global Business Review, 0972150921993057.
  • Lucas Jr, R. E. (1988). On the mechanics of economic development. Journal of Monetary Economics, 22(1), 3-42.
  • Mensi, W., Hkiri, B., Al-Yahyaee, K. H., ve Kang, S. H. (2018). Analyzing time-frequency co-movements across gold and oil prices with BRICS stock markets: A VAR based on wavelet approach. International Review of Economics ve Finance, 54, 74-102.
  • Mo, B., Chen, C., Nie, H., ve Jiang, Y (2019). Visiting Effects of crude oil price on economic growth in BRICS countries: Fresh evidence from wavelet-based quantile-on-quantile tests. Energy, 178, 234-251.
  • Mukherjee, P., Bhattacharya, P., ve Roy Chowdhury, S. (2022). Financial liberalization and convergence of financial development among BRICS economies. In Revisiting the Indian Financial Sector: Recent Issues and Perspectives, 85-118. Singapore: Springer Nature Singapore.
  • Murinde, V., Agung, J., ve Mullineux, A. (2004). Patterns of corporate financing and financial system convergence in europe. Review of International Economics, 12(4), 693-705.
  • Nişancı, M., ve Emsen, Ö. S. (2014). Ekonomik performans kriteri olarak maastrich kriterlerine yakınsama: Geçiş ekonomileri üzerine uygulama, Internatıonal Conference On Eurasian Economies.
  • Özek, Y., ve Ergür, H. O. (2020). Kırılgan beşli ülkelerinde finansal yakınsamanın birim kök testleri ile analizi. Kesit Akademi Dergisi, 6(23), 237-245. https://doi.org/10.29228/kesit.42779
  • Polat, F. (2019). Avrupa birliği üyesi ülkeler ve Türkiye arasında GSYH açısından yakınsama analizi çalışması (Yayınlanmamış Yüksek Lisans Tezi), İstanbul Üniversitesi Sosyal Bilimler Enstitüsü. İstanbul.
  • Quah, D. (1990). International patterns of growth: Persistence in cross-country disparities. MIT Working Paper Series.
  • Rassekh, F. (1998). The convergence hypothesis: History, theory, and evidence, Open Economies Review, 9, 85–105.
  • Romer, P. M. (1986). Increasing returns and long-run growth. Journal of Political Economy, 94(5), 1002-1037.
  • Rughoo, A., ve Sarantis, N. (2014). The global financial crisis and integration in European retail banking, Journal of Banking and Finance, 40, 28-41.
  • Sachs, J., ve Andrew M. Warner (1995), Economic convergence and economic policies, NBER Working Paper, No: 5039.
  • Sala-i Martin, X. (1996). Regional cohesion: Evidence and theories of regional growth and convergence, European Economic Review, 40, 1325–52.
  • Samargandi, N., ve Kutan, A. M. (2016). Private credit spillovers and economic growth: Evidence from BRICS countries. Journal of International Financial Markets, Institutions and Money, 44, 56-84.
  • Sapmaz, A. S. (2019). Avro bölgesine dâhil olmayan AB ülkelerinin Almanya ile Maastricht kriterleri çerçevesinde yakınsama analizi. Marmara Üniversitesi Avrupa Araştırmaları Enstitüsü.
  • Slaughter, M. T. (1997). Per capita income convergence and the role of international trade, American Economic Review, 87(2), 194–199.
  • Solow, R. M. (1956). A contribution to the theory of economic growth. The Quarterly Journal of Economics, 70(1), 65-94.
  • Stolbov, M. ve Veysov, A. (2011). Do financial systems converge? A comprehensive panel data approach and new evidence from a dataset for 102 countries. MPRA, No: 36103, https://mpra.ub.uni-muenchen.de/36103.
  • Svirydzenka, K. (2016). Introducing a new broad-based index of financial development. IMF Working Paper WP/16/5.
  • Tinbergen, J. (1959). Comparative studies of economic growth. In The Comparative Study of Economic Growth and Structure NBER, pp.193-201.
  • Uğur, A., ve Bingöl, N. (2021). Finansal yakınsama olgusu: Türkiye ile G7 ülkeleri arasında finansal yakınsamanın analizi. Adıyaman Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 14(37), 125-156.
  • Wang, L., Ma, F., Niu, T. ve He, C. (2019). Crude oil and BRICS stock markets under extreme shocks: New evidence. Economic Modelling. https://doi.org/10.1016/j.econmod.2019.06.002
  • You, P., Sun, Y., ve An, L. (2017). Nominal and real stochastic convergence of the BRICS economies. Review of Economic and Business Studies, 10(2), 9-28.
  • Zivot, E., ve Andrews, D. W. K. (1992). Further evidence on the great crash, the oil price shock, and the unit-root hypothesis. Journal of Business ve Economic Statistics 10(3), 251-270.
There are 54 citations in total.

Details

Primary Language Turkish
Subjects Economics, Macroeconomics (Other)
Journal Section Research Papers
Authors

Soner Künç 0000-0001-8936-9282

Süleyman Çelik 0000-0001-8999-0095

Seyhun Tutgun 0000-0001-7328-1294

Early Pub Date June 24, 2023
Publication Date June 30, 2023
Submission Date May 20, 2023
Published in Issue Year 2023 Volume: 8 Issue: 21

Cite

APA Künç, S., Çelik, S., & Tutgun, S. (2023). Yapısal Kırılmalar Altında Finansal Yakınsama Hipotezinin Geçerliliğine Yönelik Ampirik Kanıtlar. İktisadi İdari Ve Siyasal Araştırmalar Dergisi, 8(21), 584-599. https://doi.org/10.25204/iktisad.1299962
AMA Künç S, Çelik S, Tutgun S. Yapısal Kırılmalar Altında Finansal Yakınsama Hipotezinin Geçerliliğine Yönelik Ampirik Kanıtlar. JEBUPOR. June 2023;8(21):584-599. doi:10.25204/iktisad.1299962
Chicago Künç, Soner, Süleyman Çelik, and Seyhun Tutgun. “Yapısal Kırılmalar Altında Finansal Yakınsama Hipotezinin Geçerliliğine Yönelik Ampirik Kanıtlar”. İktisadi İdari Ve Siyasal Araştırmalar Dergisi 8, no. 21 (June 2023): 584-99. https://doi.org/10.25204/iktisad.1299962.
EndNote Künç S, Çelik S, Tutgun S (June 1, 2023) Yapısal Kırılmalar Altında Finansal Yakınsama Hipotezinin Geçerliliğine Yönelik Ampirik Kanıtlar. İktisadi İdari ve Siyasal Araştırmalar Dergisi 8 21 584–599.
IEEE S. Künç, S. Çelik, and S. Tutgun, “Yapısal Kırılmalar Altında Finansal Yakınsama Hipotezinin Geçerliliğine Yönelik Ampirik Kanıtlar”, JEBUPOR, vol. 8, no. 21, pp. 584–599, 2023, doi: 10.25204/iktisad.1299962.
ISNAD Künç, Soner et al. “Yapısal Kırılmalar Altında Finansal Yakınsama Hipotezinin Geçerliliğine Yönelik Ampirik Kanıtlar”. İktisadi İdari ve Siyasal Araştırmalar Dergisi 8/21 (June 2023), 584-599. https://doi.org/10.25204/iktisad.1299962.
JAMA Künç S, Çelik S, Tutgun S. Yapısal Kırılmalar Altında Finansal Yakınsama Hipotezinin Geçerliliğine Yönelik Ampirik Kanıtlar. JEBUPOR. 2023;8:584–599.
MLA Künç, Soner et al. “Yapısal Kırılmalar Altında Finansal Yakınsama Hipotezinin Geçerliliğine Yönelik Ampirik Kanıtlar”. İktisadi İdari Ve Siyasal Araştırmalar Dergisi, vol. 8, no. 21, 2023, pp. 584-99, doi:10.25204/iktisad.1299962.
Vancouver Künç S, Çelik S, Tutgun S. Yapısal Kırılmalar Altında Finansal Yakınsama Hipotezinin Geçerliliğine Yönelik Ampirik Kanıtlar. JEBUPOR. 2023;8(21):584-99.

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Dumlupınar Üniversitesi İİBF Dergisi
https://doi.org/10.58627/dpuiibf.1393332
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