Year: 2008
Type: article
Abstract: In this paper we review the literature on finance-growth nexus and investigate the causality between financial development and economic growth in Turkey for the period 1975-2005. The empirical investigation is carried out in a vector autoregression (VAR) framework based on the theory of cointegration and error-correction representation of cointegrated variables. The results of the cointegration analysis provide evidence of no long-run relationship between financial development and economic growth. The empirical findings in the paper show a one-way causality running from economic growth to financial development in Turkey.
Author: İlhan Öztürk
Institution: Çağ University
Language: English
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2096408661