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Finansal Dışa Açıklık İle Ekonomik Büyüme İlişkisi: Asimetrik Nedensellik Testi

The Relation between Financial Openness and Economic Growth: Asymmetric Causality Test

Durmuş Yıldırım and Emrah Çevik ()

MPRA Paper from University Library of Munich, Germany

Abstract: The aim of the study is to examine the effects of financial openness on Turkey economy for the periods of 1993-2016. We consider real GDP for economic growth variable in the study and financial openness variable is calculated regarding to definition by Aizenman (2004). We employ both Granger causality test and asymmetric causality test proposed by Hatemi-J (2012) to determine dynamic relation between economic growth and financial openness. We find bidirectional causal link running from economic growth to financial openness according to symmetric causality test result. Asymmetric causality test results suggest that financial openness is positively affected from economic contraction and economic growth effects financial openness as negatively.

Keywords: Financial openness; GDP; asymmetric causality (search for similar items in EconPapers)
JEL-codes: C32 E44 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ara, nep-fdg and nep-mac
Date: 2017-03
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Published in Finans Politik & Ekonomik Yorumlar 54.625(2017): pp. 41-51

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