Trade Openness, Financial Development, and Economic Growth in Turkey: Linear and Nonlinear Causality Analysis

Kar, Muhsin; Nazlıoğlu, Şaban; Ağır, Hüseyin

doi:10.36880/c04.00695

Cited by 52 publications

(42 citation statements)

References 43 publications

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“…This study suggests a positive and significant impact of financial development and economic growth. Our outcome is parallel with numerous prior investigations (Ahmed & Hasnu, 2009;Guo et al, 2008;Kar & Pentecost, 2000). This finding disapproves the arguments of researchers such as Brownbridge & Kirkpatrick, (2000); De Gregorio & Guidotti, (1995); Demirgüç -Kunt & Detragiache, (1998,2000); Gourinchas, Valdes, & Landerretche, (2001); Kaminsky & Reinhart, (1999);Schneider & Tornell, (2004) among others who are of the view that financial development may hinder economic growth.…”

Section: Discussion and Analysissupporting

confidence: 83%

The Impact of Service Sectors on Kazakhstan’s Economy

Han

Arefin

Swe

2018

BER

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This paper investigates the influence of service sectors on gross domestic product (GDP) in Kazakhstan. The aim of this paper to determine the role of services such as tourism, finance, transportation, labor and technology in Kazakhstan’s economy over 1995-2014. The influence of labor force on GDP is significantly positive while technology has insignificant influence on GDP during the study period. The positive and significant effect of labor force in the case of Kazakhstan is consistent with neoclassical theory.

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Section: Discussion and Analysissupporting

confidence: 83%

The Impact of Service Sectors on Kazakhstan’s Economy

Han

Arefin

Swe

2018

BER

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“…Whereas a,b,c,d are constant terms and j 1 2 Shahbaz et al (2008), Marques et al (2013) and Kar and Pentecost (2000) also applied…”

Section: Methodsmentioning

confidence: 99%

Financial Development and Economic Growth: Time Series Analysis of Economy of Pakistan

Malik¹,

Hayee²,

Adeel³

2018

IFB

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This study aims in understanding the causal relationship between financial development and economic growth. This research used annual data and applied dickey fuller test and granger causality test in order to understand stationary level and causation in variables. The results of this test give support to first hypothesis that financial development causes economic growth. While no evidence was found on the support of our second hypothesis i.e. economic growth is causing financial development.

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“…Some, in addition, found significant evidence that economic growth will create demand for the various financial services that the financial system will provide. Supporters of demand leading hypothesis were Robinson (1952), Kar and Pentecost (2000), Ansari (2002), Favara (2006), Kandir et. al.…”

Section: Literaturementioning

confidence: 96%

“…Almost all micro studies on the effects of bank credits in Turkey can be observed to have used GDP as dependent variable (Kar and Pentecost, 2000;Aslan and Kucukaksoy, 2006;Onder and Ozyıldırım, 2010;Kaya et al, 2013;Bayar and Tokpunar, 2014). It is clear that GDP is a very general concept and is under the influence of all other sectors.…”

Section: Model Specification and Data Estimation Proceduresmentioning

confidence: 99%

A Micro Based Study on Bank Credit and Economic Growth: Manufacturing Sub-Sectors Analysis

Hacıevliyagil

Ekşi̇

2019

South East European Journal of Economics and Business

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The manufacturing sector plays an important role in the development of modern economy all over the world. Manufacturing -as a sub -sector of the industry-refers to the production of raw materials and other factors of production, such as labor, land and capital, or goods and services through the production process. With the multiplier effect, the share of the manufacturing industry sectors in the world value added is around 20%. Similarly, the sector also covers about 1 in 9 of the total employment in the world (UNIDO, 2017). As to put it, the share of the sector in GDP is also very high and crucial. For example, in Turkey, the average manufacturing industry share in total GDP is 40% but it varies yearly. While the shares of agriculture and service sectors in GDP were declining in years recently, the share of the industrial sector was increasing (BAT, 2017).To fully realize the importance of the industry in evaluating the above figures, the interaction between the other sectors of the industrial sector and other economic activities on the economy scale has been examined for many years. In the 1920s, British economist Allyn Young suggested that network-type connections between sectors of this type were the Nuri Hacievliyagil, Ibrahim Halil Eksi AbstractThis study examines the relationship between bank credits and performance and growth of manufacturing sub-sectors. Industrial Production Index was used for a different approach as a dependent variable. Indications of the autoregressive distributed lag (ARDL) bound co-integration test support the theory that bank credits are more effective than loan rates on industrial production of sub-sectors. Moreover, the increase in bank credit leads to the rise of industrial production in all the sub-sectors, except Machinery. According to the Toda Yomamato causality test results, there are different degrees of causalities in means of the importance of bank loans for industrial production. On the other hand, in all sub-sectors except machinery and chemical sub-sectors, causality relations were observed at different grades beginning from loan interest rates to industrial production. As a result, this study concludes with the evidence of supply leading hypothesis via the financial sector leads and causes economic growth.

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Trade Openness, Financial Development, and Economic Growth in Turkey: Linear and Nonlinear Causality Analysis

Cited by 52 publications

References 43 publications

The Impact of Service Sectors on Kazakhstan’s Economy

The Impact of Service Sectors on Kazakhstan’s Economy

Financial Development and Economic Growth: Time Series Analysis of Economy of Pakistan

A Micro Based Study on Bank Credit and Economic Growth: Manufacturing Sub-Sectors Analysis

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