Work

Economic growth and financial development in Turkey: new evidence

Year: 2010

Type: article

Abstract: We examine the link between financial development and economic growth in Turkey for the period 1991 to 2005 using quarterly data. We use relatively new time series techniques that are less prone to bias to examine this relationship. We also construct a comprehensive financial development index using principal component analysis. When we control for the possible effects of inflation and monetary and fiscal policies on monetary aggregates and the economic growth rate, we fail to find any long-run causality in either direction. The result is also confirmed by generalized impulse response analysis.

Source: Applied Economics Letters

DOI: 10.1080/13504851003761764

Authors: Uğur Soytaş, Engin Küçükkaya

Institution: Middle East Technical University

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: green

OpenAlex ID: W2010905366

FWCI: 2.141

Cites: 29

Cited by: 46

Related to: 10