Private pension system analysis of effect of selected macroconomic variables: The case of Turkey

In today's world, a significant source of capital accumulation used in the development process in many developed and developing economies is the funds formed by social security institutions. Within these funds, funds belonging to individual pension system are of great importance. The funds collected are evaluated within the economy; A resource is generated for infrastructure investments, long-term funding is provided for the financing of investments and allows them to generate new jobs and employment opportunities. Economic results such as the positive contribution of capital markets to better functioning of the capital markets, price stability and positive growth by transferring long-term funds to the finance and financial sector in the country indicate the importance of the system. In this context, it is aimed to investigate the relationship between private pension system and economic growth, current account deficit and capital market. 2009: 1 - 2018:4 In the study that used quarterly data, the long term relationship with Autoregressive Distributed Lag (ARDL) boundary test approach was analyzed and the short term relationship with Toda - Yamamoto causality test was analyzed. When the results are analyzed, there is no relationship between the private pension system and economic growth and long-term relationship between the capital market and the current account deficit. In addition, short-term results revealed that there was no relationship with all three dependent variables.