Direction of Causality between Financial Development and Economic Growth in Turkey

Yılmaz, Cengiz and Demirhan, Banu (2021) Direction of Causality between Financial Development and Economic Growth in Turkey. Journal of Economics, Management and Trade, 27 (9). pp. 22-37. ISSN 2456-9216

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Official URL: https://doi.org/10.9734/jemt/2021/v27i930365

Abstract

This paper has investigated the causality relationship between financial development and economic growth in Turkey, using data from 2005:04 to 2020:03. We construct a time-series model to explore causality relationships between the variables. In the study, two indicators were used as financial development indicators: banking loans to the private sector and money supply to GDP (Gross Domestic Product). The empirical results have represented a bi-directional relationship between financial development and economic growth in the short run. On the other hand, we have not found a causality relationship in the long term.

Item Type:	Article
Subjects:	Opene Prints > Social Sciences and Humanities
Depositing User:	Managing Editor
Date Deposited:	25 Mar 2023 12:47
Last Modified:	08 Feb 2024 04:09
URI:	http://geographical.go2journals.com/id/eprint/1500

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