Macroeconomic reflections of after 1980 structural transformations in the Turkish economy

In this study, the phenomenon of structural transformation, frequently used on the basis of the global economy has been examined with its conceptual and theoretical foundations. The types and causes of structural transformation and the macroeconomic developments experienced in the world and Turkish economy since 1980, which constitutes the basic framework of structural transformation, are summarized. After 1980 in Turkey, depending on the global developments, significant structural transformations were experienced in the economy, and these transformations had macroeconomic reflections in different dimensions. The most important aspect of structural transformation in the literature is to draw attention to developments related to whether individual welfare can be increased or not. In this study, it is tried to measure the effect of structural reforms on Turkey's macroeconomic performance in the light of developments in the Turkish Economy. In the study, per capita Gross Domestic Product Growth as a macroeconomic performance indicator of Turkey for the years 1990-2020, Current Account Balance expressing the Economic Transformation indicator as the structural transformation indicators affecting this, Human Development Index expressing the structural transformation in the social field and the Political Rights Index referring to the structural transformation in the Political field. was used. In addition, Gross Fixed Capital Formation variables, which are accepted in the literature and theory to be effective on GDP Growth per Capita, were used as control variables. The aim of the study is to create an analytical framework for macroeconomic structural transformations after 1980, to examine the effect of structural transformation on individual welfare, and to contribute to the literature on structural transformation in economies. In the study, the short- and long-term correlation between the variables was analyzed by using the ARDL (Autoregressive Distributed Lag Bound), boundary test, using the annual data of Turkey between the years 1990 and 2020 in order to examine the effect of structural transformation on personal well-being. According to the test results, the short-term and long-term correlation between the variables was analyzed by using the annual data of Turkey between the years 1990-2020. It was concluded that in the short term, according to the error correction coefficient, the effect of the shock occurring in the short term will reach the equilibrium at a rate of 1.52% after one year, and in other words, it will return to the equilibrium level of 1.526/1=0.655 year (approximately in 7-8 months) after the shocks in the short term balance, and that the coefficient estimates in the model were mostly significant.