@article{article_640213, title={The Nexus of Economic Growth, Trade Openness and Banking Sector Depth In OIC: An Application of Panel Data Analysis}, journal={Alphanumeric Journal}, volume={7}, pages={205–238}, year={2019}, DOI={10.17093/alphanumeric.640213}, author={Durak, İsmail and Eroğlu, Ergün}, keywords={Economic Growth,Trade Openness,Banking Sector Depth,Panel Data,Participation Banking}, abstract={This article is investigated the connections between economic growth, trade openness and banking sector depth, using a panel data set including seventeen countries in the Islamic Cooperation Organization (OIC), where participation and conventional banking co-exist, for the period 1990–2016. Using a multivariate framework, It is primarily found that all the variables are not integrated of order one (I). Since the series are not stationary, cross-dependence tests and Westerlund (2007) cointegration analysis are performed to the series and it is determined that the series are cross-dependent and cointegrated. Then, the models are estimated with three estimators by writing the panel as panel ARDL model to determine the long-term and short-term relations. The results of the study indicate a general long-run equilibrium connection between economic growth, trade openness and banking sector depth as well as a short-run connection among these variables. Policy suggestions include those that will increase greater banking sector depth as well as promoted trade openness.}, number={2}, publisher={Bahadır Fatih YILDIRIM}