MENA bölgesinde gelir eşitsizliğinin ekonomik büyüme üzerindeki etkisi (1996-2020): Doğrudan ve dolaylı etkilerin incelenmesi

This study empirically explores the direct and indirect impacts of income inequality on economic growth, with a particular focus on various transmission channels that dictate this relationship in the Middle East and North Africa (MENA) region. The MENA region, being the world's most unequal region in terms of income distribution, provides a compelling backdrop for the study. Furthermore, given the limited literature on this topic specific to this region, this study scrutinizes the effects in 14 MENA countries over a span of 25 years, from 1996 to 2020. To ensure the validity and robustness of the results, the study employs a variety of econometric techniques, including Fixed Effects (FE), Fixed Effects Two-Stage Least Squares (FE-2SLS), and Two-Stage Least Squares (2SLS). The study's findings highlight a robust negative direct effect of income inequality on economic growth, especially when primary transmission channels are not considered. Regarding the indirect effects, the analysis suggests that human capital takes precedence over physical capital within the inequality-growth nexus. This is primarily due to its reinforcement of the role of credit accessibility in promoting education and, consequently, growth. This supports the Credit Market Imperfection channel. Additionally, the findings substantiate the Sociopolitical Unrest channel, as increased political stability significantly counteracts the negative effects of inequality on growth.