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Journals / Dumlupınar Üniversitesi Sosyal Bilimler Dergisi / 2026 / Sayı: 60

Institutions, Financial Development and Economic Growth

Kurumlar, Finansal Gelişme ve Ekonomik Büyüme

Deniz Güvercin(İSTANBUL AREL ÜNİVERSİTESİ)0000-0001-6158-3877
Adem Gök(KIRKLARELİ ÜNİVERSİTESİ)0000-0002-3786-2507
Pages
124–141
Publication Date
2019-04-29
DOI
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

Estimation results indicate that both indicators of institutions increase banking development as well as stock market development.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:This paper contributes to the literature by examining the impact of rule of law and regulatory quality on economic growth through their impact on the stock market development and banking development.
📊
Key Findings & Data:In the study, panel vector autoregressive model is employed for the EU-15 countries over the period of 1996-2012 in order to account the endogenous interrelations among these variables.
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Conclusion & Impact:Estimation results indicate that both indicators of institutions increase banking development as well as stock market development.
🔬Design:Modeling & Simulation
📍Scope:2012 Verileri
⚙️Variables:Hukukun Üstünlüğü · Düzenleyici Kalite · Bankacılık Sektörü Gelişimi

Abstract

This paper contributes to the literature by examining the impact of rule of law and regulatory quality on economic growth through their impact on the stock market development and banking development. In the study, panel vector autoregressive model is employed for the EU-15 countries over the period of 1996-2012 in order to account the endogenous interrelations among these variables. Estimation results indicate that both indicators of institutions increase banking development as well as stock market development. Additionally, the findings indicate that banking development complements with stock market development. It is found that capital market development increases income per capita whereas banking development decreases income per capita.

Özet

Bu makale hukukun üstünlüğü ve düzenleyici kalitenin menkul kıymetler borsasının gelişimi ve bankacılık sektörü gelişimi üzerinden ekonomik büyümeye etkisini analiz ederek literatüre katkı sağlamaktadır. Değişkenler arasındaki karşılıklı içsel ilişkileri açıklamak için AB-15 ülkelerini 1996-2012 zaman dilimi arasında ele alarak panel vektör özbağlanımlı model kullanılmıştır. Tahmin sonuçları, kurumların her iki göstergesinin de menkul kıymetler borsasının gelişimi yanında bankacılık sektörü gelişimini arttırdığını göstermektedir. Ek olarak, bulgular menkul kıymetler borsasının gelişimi ile bankacılık sektörü gelişimi arasında tamamlayıcılık ilişkisi olduğunu göstermektedir. Menkul kıymetler borsasının gelişimi kişi başına düşen geliri artırırken, bankacılık sektörü gelişimi kişi başına düşen geliri azaltmaktadır.

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Cite This Article

Güvercin, D., Gök, A. (2019). Institutions, Financial Development and Economic Growth. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, Sayı: 60, 124–141. https://ajindex.com/articles/1387033

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