The aim of this study is to investigate the relationship between financial development and economic growth for the period from 1988 to 2004 in Turkey In the analyses quarterly values of real per capita national income are used as a proxy for economic growth On the other hand four variables are used as proxies for financial development These variables are the ratio of ISE trading volume to national income the ratio of ISE capitalisation value to national income ISE turnover ratio and the ratio of private sector bank credits to national income Johansen Cointegration error correction and casuality methods are employed Findings reveal that there is a demand following relationship between financial development and economic growth Furthermore financial market does not appear to support economic growth in Turkey Nevertheless economic growth seems to impact financial growth Key Words: Financial Development Economic Growth National Income Stock Market Bank Credits
📌 3 Key Takeaways
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Objective & Hypothesis:The aim of this study is to investigate the relationship between financial development and economic growth for the period from 1988 to 2004 in Turkey In the analyses quarterly values of real per capita national income are used as a proxy for economic growth On the other hand four variables are used as proxies for financial development These variables are the ratio of ISE trading volume to national income the ratio of ISE capitalisation value to national income ISE turnover ratio and the ratio of private sector bank credits to national income Johansen Cointegration error correction and casuality methods are employed Findings reveal that there is a demand following relationship between financial development and economic growth Furthermore financial market does not appear to support economic growth in Turkey Nevertheless economic growth seems to impact financial growth Key Words: Financial Development Economic Growth National Income Stock Market Bank Credits
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Key Findings & Data:The aim of this study is to investigate the relationship between financial development and economic growth for the period from 1988 to 2004 in Turkey In the analyses quarterly values of real per capita national income are used as a proxy for economic growth On the other hand four variables are used as proxies for financial development These variables are the ratio of ISE trading volume to national income the ratio of ISE capitalisation value to national income ISE turnover ratio and the ratio of private sector bank credits to national income Johansen Cointegration error correction and casuality methods are employed Findings reveal that there is a demand following relationship between financial development and economic growth Furthermore financial market does not appear to support economic growth in Turkey Nevertheless economic growth seems to impact financial growth Key Words: Financial Development Economic Growth National Income Stock Market Bank Credits
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Conclusion & Impact:The aim of this study is to investigate the relationship between financial development and economic growth for the period from 1988 to 2004 in Turkey In the analyses quarterly values of real per capita national income are used as a proxy for economic growth On the other hand four variables are used as proxies for financial development These variables are the ratio of ISE trading volume to national income the ratio of ISE capitalisation value to national income ISE turnover ratio and the ratio of private sector bank credits to national income Johansen Cointegration error correction and casuality methods are employed Findings reveal that there is a demand following relationship between financial development and economic growth Furthermore financial market does not appear to support economic growth in Turkey Nevertheless economic growth seems to impact financial growth Key Words: Financial Development Economic Growth National Income Stock Market Bank Credits
🔬Design:Research Article
📍Scope:2004 Verileri
⚙️Variables:Anahtar Kelimeler Finansal Gelişme · Ekonomik Büyüme · Milli Gelir
Abstract
The aim of this study is to investigate the relationship between financial development and economic growth for the period from 1988 to 2004 in Turkey In the analyses quarterly values of real per capita national income are used as a proxy for economic growth On the other hand four variables are used as proxies for financial development These variables are the ratio of ISE trading volume to national income the ratio of ISE capitalisation value to national income ISE turnover ratio and the ratio of private sector bank credits to national income Johansen Cointegration error correction and casuality methods are employed Findings reveal that there is a demand following relationship between financial development and economic growth Furthermore financial market does not appear to support economic growth in Turkey Nevertheless economic growth seems to impact financial growth Key Words: Financial Development Economic Growth National Income Stock Market Bank Credits
Özet
Bu çalışmanın amacı Türkiye’de finansal gelişme ve ekonomik büyüme arasındaki ilişkinin 1988 2004 dönemi için araştırılmasıdır Üç aylık verilerin kullanıldığı analizlerde kişi başına reel milli gelir ekonomik büyümeyi temsil etmek üzere kullanılmıştır Diğer yandan finansal gelişmeyi temsil etmek üzere dört değişkenden yararlanılmıştır Bu değişkenler İMKB işlem hacminin milli gelire oranı İMKB piyasa değerinin milli gelire oranı İMKB işlem görme oranı ve özel sektöre verilen banka kredilerinin milli gelire oranıdır Çalışmada Johansen eşbütünleşme testleri hata düzeltme modeli ve nedensellik analizlerinden faydalanılmıştır Analiz sonuçları finansal gelişme ve ekonomik büyüme arasındaki ilişkinin talep izleyen bir yapısı olduğunu ortaya koymaktadır Buna göre Türkiye’de finansal gelişmişliğin ekonomik büyümeyi desteklemediği belirlenmiştir Ancak ekonomik büyüme finansal gelişmeyi etkilemektedir Anahtar Kelimeler: Finansal Gelişme Ekonomik Büyüme Milli Gelir Hisse Senedi Piyasası Banka Kredileri INVESTIGATING THE RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH
KANDIR, D. S. Y., İSKENDEROĞLU, A. G. Ö., ÖNAL, P. D. Y. B. (2007). Finansal Gelişme Ve Ekonomik Büyüme Arasındaki ilişkinin Araştırılması. Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, Cilt: 16 - Sayı: 2, 311–326. https://ajindex.com/articles/73993
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