Financial Development and Investment Amount Nexus: A Case Study of Turkey

Banu Demirhan

Asian Economic and Financial Review, 2016, vol. 6, issue 3, 127-134

Abstract: The paper examines the relationship between financial development and investment amount in Turkey over the period of 1998:01-2015:02 by using Toda-Yamamoto method. Banking sector and stock market measures of financial development are used in the econometric analysis. Our findings suggest that there is uni-directional causality from stock market development to investment amount. Moreover, empirical findings present that there is uni-directional causality from investment amount to banking sector development and bi-directional causality between banking sector development and stock market development.

Keywords: Financial development; Capital stock; Toda-Yamamoto method; Investment; Banking sector; Causality. (search for similar items in EconPapers)
Date: 2016
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