Cilt 14 Sayı 2 (2026): Business & Management Studies: An International Journal
Makaleler

OECD ülkelerinde borsa kapitalizasyonunun makroekonomik belirleyicileri

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  • Berna Doğan Başar
Berna Doğan Başar
Dr. Öğr. Üyesi, Afyon Kocatepe Üniversitesi, Bolvadin Uygulamalı Bilimler Fakültesi, Bankacılık ve Sigortacılık Bölümü, Afyonkarahisar, Türkiye

Yayınlanmış 25.06.2026

Anahtar Kelimeler

  • Borsa Kapitalizasyonu, Makroekonomik Belirleyiciler, OECD Ülkeleri, Sistem GMM
  • Stock Market Capitalisation, Macroeconomic Determinants, OECD Countries, System GMM

Nasıl Atıf Yapılır

OECD ülkelerinde borsa kapitalizasyonunun makroekonomik belirleyicileri. (2026). Business & Management Studies: An International Journal, 14(2), 868-878. https://doi.org/10.15295/bmij.v14i2.2765

Telif Hakkı (c) 2026 Berna Doğan Başar

Creative Commons License

Bu çalışma Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License ile lisanslanmıştır.

Nasıl Atıf Yapılır

OECD ülkelerinde borsa kapitalizasyonunun makroekonomik belirleyicileri. (2026). Business & Management Studies: An International Journal, 14(2), 868-878. https://doi.org/10.15295/bmij.v14i2.2765

Öz

Bu çalışma, OECD ülkelerinde 2001-2024 yılları arasında makroekonomik göstergelerin borsa kapitalizasyonu üzerindeki etkilerini incelemektedir. Analiz kapsamında 19 OECD ülkesine ait veriler kullanılarak söz konusu ilişkiler dinamik panel veri analizi çerçevesinde Sistem Genelleştirilmiş Momentler Metodu (Sistem GMM) yöntemi ile incelenmiştir. Oluşturulan modelde, halka açık yerel firmaların borsa değerlerinin GSYH içindeki payı olan borsa kapitalizasyonu bağımlı değişken, GSYH, enflasyon, özel sektöre sağlanan krediler ve ticari açıklık bağımsız değişken olarak ele alınmıştır. Elde edilen bulgulara göre, ekonomik büyüme ve özel sektöre sağlanan krediler ile borsa kapitalizasyonu arasında istatistiksel olarak anlamlı ve pozitif ilişki bulunmaktadır. Buna göre,  OECD ülkelerinde ekonomik büyümenin ve finansal aracılık faaliyetlerinin sermaye piyasalarının gelişiminde önemli rol oynadığı ortaya konmaktadır. Bulgular, finansal piyasaların gelişimi için büyüme odaklı ve kredi erişimini destekleyen politikaların benimsenmesinin gerekliliğini göstermektedir. Son yıllarda OECD ülkeleri için bu ilişkiyi uzun vadeli ve karşılaştırmalı bir çerçevede ele alan çalışmaların sınırlı sayıda olması göz önüne alındığında bu çalışmanın literatürdeki önemli bir boşluğu doldurması beklenmektedir.

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