ANALYZING THE RELATIONSHIP BETWEEN SOCIAL SECURITY EXPENDITURES AND ECONOMIC GROWTH: THE CASE OF TURKEY
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https://doi.org/10.5281/zenodo.10225608Keywords:
Social Security, Economic Growth, Time Series AnalysisAbstract
The different levels of development and socio-economic structures of countries play a determining role in the share they allocate from their national income to social security expenditures. Especially after the Second World War, with the adoption of the social state approach, it is observed that the share allocated by countries from national income to social security expenditures has increased. This increase stemmed from there is a direct relationship between social security and the level of economic development of the country. Nowadays, it is observed that there are many studies aiming to analyze this relationship. However, the scarcity of studies conducted specifically in Türkiye draws attention. Therefore, this study aims to analyse the long-run relationship between social security expenditures and economic growth in Turkey for the period 1980-2021. Fort his purpose, Engle-Granger cointegration and Granger causality tests were performed on the relevant variables.The results show that there is a long-run relationship between social security expenditures and economic growth and this relationship is unidirectional from social security expenditures to economic growth. As a result of long-term coefficient estimates, it has been revealed that a 1% change in social security expenditures will lead to a 1.4% change in GDP.
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