Financial Development Components Impact On Economic Growth: Evidence From Turkey
Journal Title: Journal of the Human and Social Science Researches - Year 2017, Vol 6, Issue 1
Abstract
The purpose of this paper is the study of relationship between financial development and economic growth in Turkey during 1998 - 2014 period quarterly data. Real GDP variable is used for economic growth calculations. The financial development of variables are taken three variables. These variables are the stock exchange in Istanbul market value, M2 sum of the monetary aggregates and credits. The causality are made both VAR Granger causality and Toda-Yamamoto method. Both methods have emerged in similar results. In the study, Johansen cointegration test, error correction model and causality analysis has benefited. Our work found that there is a unclear relationship between financial development and growth. Thus, financial development components show different relationships. Effects of different financial development component on economic growth have been investigated for Turkey in this study.
Authors and Affiliations
Hüseyin KARAMELİKLİ| Yrd.Doç. Dr., Karabük Üniversitesi İ.İ.B.F Asst.Prof. ,Karabuk University Economics and Administrative Sciences huseyinkaramelikli@karabuk.edu.tr, Hayrettin KESGİNGÖZ| Yrd.Doç. Dr., Karabük Üniversitesi İ.İ.B.F Asst.Prof. ,Karabuk University Economics and Administrative Sciences hayrettinkesgingoz@karabuk.edu.tr
Keywords
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