Finance – Growth Nexus: Evidence from Turkey
Preprint
- 1 January 2007
- preprint
- Published by Elsevier BV in SSRN Electronic Journal
Abstract
This paper examines the causal relationship between financial development and economic growth in Turkey for the period 1986:1-2006:4 using dynamic time series models. The results of the cointegration analysis provide evidence of no long-run relationship between financial development and economic growth. Therefore, the empirical investigation is carried out in a vector autoregression (VAR) framework to analyze the short run effect of the financial intermediary development on economic growth. The results show a one-way causal relationship running from the financial development to the economic growth in Turkey.This publication has 36 references indexed in Scilit:
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