Özet:

This study aims to investigate the long-term relationship between Private Pension Insurance (PPS) and economic growth in Turkey. In the research model established for this purpose, the amount of insurance contribution in the system was used as the PPS indicator. Real Gross Domestic Product (GDP) data was also used to represent economic growth. Johansen cointegration, one of the time series analysis techniques, was used to investigate the long-term relationship between the data for a total of 66 quarters between 2005/Q1-2021/Q2 of these variables, and then Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) were applied to determine the extent of the effect of the long-term relationship. Finally, Vector Error Correction Model (VEC) Granger causality test was used to examine the short-term causality between the series. As a result of the analysis, a statistically significant and long-term relationship was determined between the PPS and GDP. In other words, the variables are cointegrated and move together in the long run. On the other hand, as a result of the VEC Granger causality test, no statistically causality was found between PPS and GDP in the short run. In line with empirical results, private pension insurance contributes to economic growth over a long period.

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