Short and Long-Term Correlation of Social Security Expenditure and Human Development: Turkish Model
The aim of this study is to analyse the relationship between social security expenditures and human development in Turkey between 1990 and 2014. The main variables of the analysis include the proportion of social security expenditures in GDP for social security expenditures and the re-calculated real HDI (Human Development Index) values, with data from TUIK (the Turkish Statistical Institute) for human development. In doing so, the auto-regressive distributed lag (ARDL) bounds test for co-integration is employed. It has been seen upon conclusion of the analysis that Social Security Expenditures are positively affecting human development on a significant level, in both the short- and long-term.
Key words: Social security, Human development, Social welfare.
JEL: H55, I31, O15.