Financial Development and Economic Growth: A Causality Analysis for Turkey

Orhan Karaca

Journal of BRSA Banking and Financial Markets, 2012, vol. 6, issue 2, 85-111

Abstract: The causality relationship between financial development and economic growth is one of the highly discussed and unresolved topics in the economics literature. In this study, the causality relationship between financial development and economic growth is searched for Turkey. Quarterly data of 1990:I-2011:IV period are used in this study. As a result of the analysis, it is found out that there is a positive undirectional causality running from financial development to economic growth in Turkey. This result shows that supply leading hypothesis on the literature of financial development-economic growth relationship has been valid through the last 22 years period in Turkey.

Keywords: Financial Development; Economic Growth; Causality (search for similar items in EconPapers)
JEL-codes: E44 O11 O16 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:bdd:journl:v:6:y:2012:i:2:p:85-111

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