The Financial Development and Economic Growth Nexus for Turkey
MPRA Paper from University Library of Munich, Germany
This study investigates the validity of the demand-pulling and the supply-leading hypotheses using annual data from 1968 to 2005. The bounds testing approach to cointegration is conducted to establish the existence of a long-run relationship between financial development and economic growth. An augmented form of Granger causality analysis is implemented to identify the direction of causality among the variables both in the short-run and the long-run. The empirical findings suggest uni-directional causation from financial development to economic growth.
Keywords: Growth; financial intermediation; causality; cointegration; Turkey (search for similar items in EconPapers)
JEL-codes: C22 F40 O52 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cwa and nep-fdg
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Working Paper: The Financial Development and Economic Growth Nexus for Turkey (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:3566
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