Finance – Growth Nexus: Evidence from Turkey

Acaravcı, Ali; Öztürk, İlhan; Acaravci, Songül Kakilli

doi:10.2139/ssrn.1401590

Cited by 18 publications

(12 citation statements)

References 36 publications

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“…In contrast to the above empirical findings, Acaravci et al (2007) found no evidence for longrun causality between financial development and economic growth. Furthermore, Alkhuzaim (2014) confirmed this neutrality hypothesis by using domestic private credit as a financial sector indicator.…”

Section: Discussion Of Study Results and Empirical Literaturecontrasting

confidence: 97%

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Financial Intermediation Development and Economic Growth Nexus in Sri Lanka

Silva¹

2016

Staff Studies

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Section: Discussion Of Study Results and Empirical Literaturecontrasting

confidence: 97%

“…β represents the level of significance for the cointegrating relationship among variables. α is the adjustment coefficient, which is the speed of error correction (Acaravci et al 2007;Bojanic 2011).…”

Section: Unit Root Testmentioning

confidence: 99%

Financial Intermediation Development and Economic Growth Nexus in Sri Lanka

Silva¹

2016

Staff Studies

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“…Graff (1999) suggests that the finance--growth nexus might be less relevant for industrialized countries with already highly developed financial systems. In Turkey, Acaravci et al (2007) found no long-run relationship between financial development and economic growth. Chang (2002) found independence between financial development and economic growth for Mainland China.…”

Section: Literature Reviewmentioning

confidence: 97%

“…Examining a long survey period (200 years) in Belgium, Nieuwerburgh et al (2006) found that stock market development determined economic growth, particularly in the period 1873--1935, but also on over the entire analyzed period (1800 -2000), with variations in time due to institutional changes affecting the stock exchange. For Turkey, the results of the studies made by Aslan & Kucukaksoy (2006) and Acaravci et al (2007) indicate that financial development leads to economic growth. Studying 13 sub-Saharan African countries, Ghirmay (2004) found that financial development causes economic growth in eight countries.…”

Section: Literature Reviewmentioning

confidence: 99%

Direction of Causality Between Financial Development and Economic Growth. Evidence for Developing Countries

Borlea

Codruta

Achim

et al. 2016

Studia Universitatis „Vasile Goldis” Arad – Economics Series

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Abstract:The results of extensive studies that analyzed the existence and meaning of correlations between the economic growth and the financial market development lead us to a more thorough study of these correlations. Therefore, we performed a broad study of the developing countries from around the world (the developing part of each region constructed by the World Bank through its Statistics Bureau). The regions taken into analysis were: Europe and Central Asia, South Asia, East Asia and the Pacific, the Arab world, Latin America & and the Caribbean, the Middle East and North Africa, and Sub-Saharan Africa. For comparison purposes, we have also included in the sample the North American countries, the Euro Area and the European Union as a whole, because these last three areas are the main benchmarks of the financial markets. The results are consistent with those from previous studies on the subject and vary depending on region and financial indicator considered.

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“…The second indicator of banking sector development is the ratio of domestic credit to private sector to nominal GDP (DCPS). This indicator measures the quality and quantity of the investment financed by the banking sector many researchers used this indicator as a proxy for financial sector development (see King and Levine (1993), Levine (1999), Abu-Bader,et al (2005), Beck et al, Shandre, et al (2004) Mazur and Alexander (2001), Shan (2005), Erdal and Hyougsoo (2007), Acaravci et al (2007). Third indicator of the banking sector development is the assets with the central bank to GDP ratio (ASBG).…”

Section: 1data and Data Sourcesmentioning

confidence: 99%

Relationship between Financial Sector Development and Sustainable Economic Development: Time Series Analysis from Pakistan

Anwar¹,

Ghulam²,

Hussain³

2011

IJEF

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The study empirically investigated the contribution of financial sector in sustainable economic development of Pakistan. Annual data were used from the period of 1973 to 2007. Main objectives were to analyze the long run relationship between financial sector development and sustainable economic development along with direction of causality between both. Auto Regressive Distributed Lag (ARDL) bound testing technique for cointegration was applied to estimate the long run relationship. A stable long run relationship was found between financial sector indicators and the sustainable economic development. Error Correction coefficient was statistically significant. It was concluded that financial sector had positive impact on the sustainable economic development in short run as well as in the long run. Causality test revealed that financial sector development was the basis for economic development.

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Finance – Growth Nexus: Evidence from Turkey

Cited by 18 publications

References 36 publications

Financial Intermediation Development and Economic Growth Nexus in Sri Lanka

Financial Intermediation Development and Economic Growth Nexus in Sri Lanka

Direction of Causality Between Financial Development and Economic Growth. Evidence for Developing Countries

Relationship between Financial Sector Development and Sustainable Economic Development: Time Series Analysis from Pakistan

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