Year: 2014
Type: article
Abstract: The studies on the role of stock market development in economic growth have been increasing in recent years. This study examines the relationship between stock market development and economic growth in Turkey during the period 1999-2013 by using Johansen-Juselius cointegration test and Granger causality test. Our empirical results indicate that there is a long run relationship between economic growth and stock market capitalization, total value of stocks traded, turnover ratio of stocks traded and also there is unidirectional causality from stock market capitalization, total value of stocks traded and turnover ratio of stocks traded to economic growth.
DOI: 10.5430/ijfr.v5n1p93
Authors: Yilmaz Bayar, Abdulkadir Kaya, Murat Yildirim
Institutions: Karabük University, Erzurum Technical University
Language: English
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W2013124435