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Economic growth and financial development in Turkey: new evidence
Date
2011-01-01
Author
Soytaş, Uğur
Kucukkaya, Engin
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Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
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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.
Subject Keywords
Economics and Econometrics
URI
https://hdl.handle.net/11511/46887
Journal
APPLIED ECONOMICS LETTERS
DOI
https://doi.org/10.1080/13504851003761764
Collections
Department of Business Administration, Article
Citation Formats
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BibTeX
U. Soytaş and E. Kucukkaya, “Economic growth and financial development in Turkey: new evidence,”
APPLIED ECONOMICS LETTERS
, vol. 18, no. 6, pp. 595–600, 2011, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/46887.