TITLE

FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH IN TURKEY: AN EMPIRICAL ANALYSIS

AUTHOR(S)
Kapusuzoglu, Ayhan
PUB. DATE
January 2013
SOURCE
Actual Problems of Economics / Aktual'ni Problemi Ekonomìki;Jan2013, Vol. 139 Issue 1, p314
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
In this study, the cointegration and causality relations are examined in Turkey between the Gross Domestic Product (GDP) and the National 30, National 50 and National 100 indices at Istanbul Stock Exchange (ISE) in order to study the relation between economic growth and financial development. In the study covering the period 2000-2010 and comprising the quarterly data, the relations between GDP and each index are separately analysed by using econometric methods. As the outcome of the Johansen cointegration test conducted, it is concluded that a long-term relation exists between the GDP and all the indices. And as the outcome of the Granger causality test applied to reveal the causality relation, it is determined that a bidirectional causality relation exists between the GDP and all the indices in the short term.
ACCESSION #
85126461

 

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