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Journals / Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi / 2015 / Cilt: 10 - Sayı: 3

The Impact of Financial Development and Trade Liberalization on Economic Growth in Turkey

Türkiye'de Finansal Gelişme ile Ticari Serbestleşmenin Büyümeye Etkisi

Mehmet Zeki AK
Kemal AYDIN
Nurullah ALTINTAŞ
Pages
29–45
Publication Date
2022-10-18
DOI
—
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AI Summary & Key Takeaways

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

According to results of Johansen test there is a cointegration relation between the parameters.In other words, financial growth and trade liberalization are subsitantial factors thatdetermine the growth performance of the country.On the other hand, DOLS and FMOLS tests shows that trade liberalization has more powerful effect than financial liberalization on growth.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:Neoliberal approaches, which emphasizes that outward looking economies has a faster growth than inward looking economies by reducing the obstacles of trade and finance, gains intense interest of both policymaker and researchers.
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Key Findings & Data:Based on this interest, this study presents findings that support neoliberal approaches.In this study, trade liberalization in Turkish economy and the relation between financial growth and expansion parameters inthe period 1980-2010 are examined.For this aim, Johansen cointegration test with DOLS and FMOLS methodologies are applied.
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Conclusion & Impact:According to results of Johansen test there is a cointegration relation between the parameters.In other words, financial growth and trade liberalization are subsitantial factors thatdetermine the growth performance of the country.On the other hand, DOLS and FMOLS tests shows that trade liberalization has more powerful effect than financial liberalization on growth.
🔬Design:Research Article
📍Scope:2010 Verileri
⚙️Variables:Domain Parameters

Abstract

Neoliberal approaches, which emphasizes that outward looking economies has a faster growth than inward looking economies by reducing the obstacles of trade and finance, gains intense interest of both policymaker and researchers. Based on this interest, this study presents findings that support neoliberal approaches.In this study, trade liberalization in Turkish economy and the relation between financial growth and expansion parameters inthe period 1980-2010 are examined.For this aim, Johansen cointegration test with DOLS and FMOLS methodologies are applied. According to results of Johansen test there is a cointegration relation between the parameters.In other words, financial growth and trade liberalization are subsitantial factors thatdetermine the growth performance of the country.On the other hand, DOLS and FMOLS tests shows that trade liberalization has more powerful effect than financial liberalization on growth.

Özet

Ticaretin ve finansın önündeki engelleri azaltıp dışa açılan ekonomilerin içe dönük ekonomilere göre daha hızlı büyüme kaydettiğine vurgu yapan neoliberal yaklaşımlar, gerek politika yapıcıların gereksearaştırmacılarınyoğunilgisini çekmektedir. Söz konusu ilgi temelinde gerçekleştirilen bu çalışma, neoliberal yaklaşımı destekle-yen bulgular ortaya koymaktadır. Çalışmada 1980-2010 döneminde Türkiye ekonomisinde ticari serbestleşme, finansal gelişme ve büyüme değişkenleri arasındaki ilişki sorgulanmıştır. Bu amaca dönük olarak Johansen eş-bütünleşme testleri ile Dinamik En Küçük Kareler Yöntemi (DOLS) ve Düzeltilmiş En Küçük Kareler Yöntemi (FMOLS) uygulanmıştır. Johansen testi sonuçlarına göre değişkenler arasında bir eşbütünleşme ilişkisi bulun-maktadır. Bir başka ifade ile finansal gelişme ve ticari serbestleşme, ülkenin büyüme performansını belirleyen güçlü birer faktördür. Diğer taraftan DOLS ve FMOLS testleri,ticariserbestleşmeninbüyüme üzerindeki etkisi-nin finansal serbestleşmenin büyüme üzerindeki etkisinden daha güçlü olduğu göstermektedir.

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Cite This Article

AK, M. Z., AYDIN, K., ALTINTAŞ, N. (2022). The Impact of Financial Development and Trade Liberalization on Economic Growth in Turkey. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, Cilt: 10 - Sayı: 3, 29–45. https://ajindex.com/articles/505602

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