Financial Innovation Much Ado about Nothing

2014-03-09

Suggestions

Financial development, financial openness and growth: an empirical investigation
Ünaldı Akgün, Burçin; Özmen, Erdal; Department of Economics (2011)
The economic literature posits that a well-functioning economy requires a well-regulated financial system, and a sound financial system is essential to the fundamentals of an economy, however, even the most influential economists disagree sharply about the role of the finance-growth relationship in economic development. One of the most important questions concerning financial openness is whether it spurs long-run economic growth, and if yes, do these benefits outweigh the risks for developing countries. In ...
Financial Development and Economic Growth - New Data and Empirical Analysis
Graff, Micheal (Orta Doğu Teknik Üniversitesi (Ankara, Turkey), 2001)
The paper discusses the significance of financial development as a determinant of economic development. An empirical analysis is based on panel data covering 93 countries from 1970-90. It draws on a new proxy for financial development that refers to the input of real resources into the financial system. Moreover, interaction effects between financial development and catching-up as well as education are considered. Finally, to clarify the structure of causal relationships, a two-wave path model is estimated....
Financial innovations in developing countries : the case of Turkey
Gökatalay, Semih; Ağır, Münis Seven; Department of Economics (2015)
There is a significant literature that investigates business interest groups and how they interact with public and private interests. Yet, the historical evolution of business interest groups in Turkey is still meager. With the start of the Second Constitutional Period, there was an increase in the number of corporations which were founded in the Ottoman Empire. Particularly, during the World War I, as a result of national economy policies, Muslim-Turkish ownership dominated these corporations and the new g...
Financial innovations in developing countries : the case of Turkey
Hergüner, Armağan Önder; Ağır, Münis Seven; Department of Economics (2015)
Financial innovation is an important phenomenon in the development scheme of financial markets, gaining more ground after the 1980s. The primary aim of this thesis is to investigate two cases of financial innovation in Turkey: Credit card installments and gold accounts. Financial innovation literature lacks an examination of financial innovations in developing countries and does not present any alternative explanations behind their emergence. Differences between institutional structures and the effect of fi...
Financial development and energy consumption in emerging markets: structural shifts in causal linkages
Durusu Çiftçi, Dilek; Soytaş, Uğur; Nazlıoğlu, Şaban (null; 2018-11-03)
This study examines dynamic causal interrelationships among financial development, energy consumption, and economic growth in the emerging markets by focusing on accounting for structural changes in causal linkages. We first employ the Toda-Yamamoto causality framework and later augment it with Fourier approximation to account for structural shifts – including gradual/smooth shifts. The empirical findings show that accounting for gradual structural shifts matter for the causal linkages between financial dev...
Citation Formats
H. Cömert, “Financial Innovation Much Ado about Nothing,” 2014, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/76406.