National and Regional Convergence Outcomes of The Global Financial Crisis (2008): The Case of Türkiye and the EU

Ömer Diler; Yusuf Bayraktutan

Article Details

National and Regional Convergence Outcomes of The Global Financial Crisis (2008): The Case of Türkiye and the EU

Authors:

Ömer Diler | Yusuf Bayraktutan

Publisher:

Süleyman Demirel University

Main Topics:

Büyüme | Kalkınma Ekonomisi - Makro | Makro İktisat (Diğer)

Journal:

Süleyman Demirel Üniversitesi Vizyoner Dergisi Vol.16 Issue 45, pp.227-246

Document Type:

Article

Publication Date:

2/2025

Document Language:

English

Document ID (Org No.):

2001341330

pISSN:

1308-9552

Keywords:

Abstract:

 According to the convergence hypothesis, units country, region, sector, etc. with relatively lower incomes would converge to those with higher incomes. Reducing regional development disparities has been a key priority of European integration. Before full membership, candidate countries are expected to converge as much as possible to the EU average in terms of certain economic indicators. Financial crisis affects the differences in the level of income between regions and countries. The global crisis, which started in the USA and spread to the EU and the world as of 2007, was effective on national and regional scales; produced results worth discussing in the context of convergence. In the study, the convergence relationship between Türkiye and the EU member countries and their selected regions during the global financial crisis is investigated to see whether the global financial crisis is an opportunity for convergence in the relatively low-income level-2 regions. 81 regions of the EU and Türkiye for the period of 2004 - 2017 is used. Findings indicate that, Türkiye converged to the EU during the crisis. 26 regions converged positively and 18 negatively; 21 diverged positively and 11 negatively; there was no significant change in the relative position of 5 regions.

 According to the convergence hypothesis, units country, region, sector, etc. with relatively lower incomes would converge to those with higher incomes. Reducing regional development disparities has been a key priority of European integration. Before full membership, candidate countries are expected to converge as much as possible to the EU average in terms of certain economic indicators. Financial crisis affects the differences in the level of income between regions and countries. The global crisis, which started in the USA and spread to the EU and the world as of 2007, was effective on national and regional scales; produced results worth discussing in the context of convergence. In the study, the convergence relationship between Türkiye and the EU member countries and their selected regions during the global financial crisis is investigated to see whether the global financial crisis is an opportunity for convergence in the relatively low-income level-2 regions. 81 regions of the EU and Türkiye for the period of 2004 - 2017 is used. Findings indicate that, Türkiye converged to the EU during the crisis. 26 regions converged positively and 18 negatively; 21 diverged positively and 11 negatively; there was no significant change in the relative position of 5 regions.

 According to the convergence hypothesis, units country, region, sector, etc. with relatively lower incomes would converge to those with higher incomes. Reducing regional development disparities has been a key priority of European integration. Before full membership, candidate countries are expected to converge as much as possible to the EU average in terms of certain economic indicators. Financial crisis affects the differences in the level of income between regions and countries. The global crisis, which started in the USA and spread to the EU and the world as of 2007, was effective on national and regional scales; produced results worth discussing in the context of convergence. In the study, the convergence relationship between Türkiye and the EU member countries and their selected regions during the global financial crisis is investigated to see whether the global financial crisis is an opportunity for convergence in the relatively low-income level-2 regions. 81 regions of the EU and Türkiye for the period of 2004 - 2017 is used. Findings indicate that, Türkiye converged to the EU during the crisis. 26 regions converged positively and 18 negatively; 21 diverged positively and 11 negatively; there was no significant change in the relative position of 5 regions.

 Yakınsama hipotezine göre, incelenen birimlerden ülke, bölge, il, sektör vb. göreli olarak daha düşük gelire sahip olanlar, zamanla daha yüksek bir büyüme performansıyla yüksek gelirli olanlara yakınsayacaktır. Bölgesel gelişme farklarının azaltılması, baştan itibaren Avrupa bütünleşmesinin temel önceliklerinden biri olmuştur ve tam üyelik öncesi aday ülkelerden de belirli iktisadi göstergeler bakımından AB ortalamasına olabildiğince yakınsamaları beklenmektedir. Finansal kriz, ana iktisadi değişkenlerde yüksek oranlı bozulmalar ile bölgeler ve ülkeler arasında gelişme düzeyi farklılıklarına sebep olmaktadır. 2007den itibaren ABDde başlayıp ABye yayılan küresel kriz, ulusal ve bölgesel ölçekte etkili olmuş; yakınsama bağlamında tartışmaya değer sonuçlar üretmiştir. Bu çalışmada, aday ülke statüsünde olan Türkiyenin, AB üyesi ülkeler ile küresel finansal kriz sonrası yakınsama ilişkisi araştırılmış; küresel finansal krizin, görece düşük gelirli düzey-2 bölgeleri özelinde yakınsama bakımından bir fırsat olup olmadığı, makroekonomik göstergeler ışığında, 2004 - 2017 dönemi için analiz edilmiştir. Türkiyenin kriz sürecinde ABye yakınsadığı; AB ve Türkiyenin örneklemde yer alan 81 bölgesinden 26 bölgenin pozitif ve 18 bölgenin negatif yakınsadığı; 21 bölgenin pozitif ve 11 bölgenin negatif ıraksadığı; 5 bölgenin ise göreli konumunda kayda değer değişim olmadığı saptanmıştır.

Article Details

National and Regional Convergence Outcomes of The Global Financial Crisis (2008): The Case of Türkiye and the EU

Authors:

Ömer Diler | Yusuf Bayraktutan

Publisher:

Süleyman Demirel University

Main Topics:

Büyüme | Kalkınma Ekonomisi - Makro | Makro İktisat (Diğer)

Journal:

Süleyman Demirel Üniversitesi Vizyoner Dergisi Vol.16 Issue 45, pp.227-246

Document Type:

Article

Publication Date:

2/2025

Document Language:

English

Document ID (Org No.):

2001341330

pISSN:

1308-9552

Convergence

EU

Economic Crisis

DevelopmentYakınsama

AB

Ekonomik Kriz

Kalkınma

Issues

Article Details

Authors: Ömer Diler | Yusuf Bayraktutan

Publisher: Süleyman Demirel University

Main Topics: Büyüme | Kalkınma Ekonomisi - Makro | Makro İktisat (Diğer)

Journal: Süleyman Demirel Üniversitesi Vizyoner Dergisi Vol.16 Issue 45, pp.227-246

Document Type: Article

Publication Date: 2/2025

Document Language: English

Document ID (Org No.): 2001341330

pISSN: 1308-9552

Issues

Authors:

Ömer Diler | Yusuf Bayraktutan

Publisher:

Süleyman Demirel University

Main Topics:

Büyüme | Kalkınma Ekonomisi - Makro | Makro İktisat (Diğer)

Journal:

Süleyman Demirel Üniversitesi Vizyoner Dergisi Vol.16 Issue 45, pp.227-246

Document Type:

Article

Publication Date:

2/2025

Document Language:

English

Document ID (Org No.):

2001341330

pISSN:

1308-9552