Financial Development and Economic Growth Nexus In Turkey: Casuality Analysis Based On Bootsrap Approach

Year 2018, Volume: 5 Issue: 3, 172 - 184, 31.12.2018

Emrah Eray Akça , Harun Bal , Müge Manga

https://doi.org/10.30803/adusobed.396868

Cited By: 1

Abstract

In this study, causality analysis were
carried out to specify the relationship between financial development and
economic growth using annual data for 1986-2016 period for Turkey. It was
followed Leveraged Bootstrap Approach Procedure by Hacker and Hatemi-J (2006)
to test causality. Findings obtained from causality analysis generally refer to
one-way causality towards economic growth from financial development. General
results obtained from our study support evidence on supply-leading hypothesis.
Consequently, practices towards financial development contribute positively to
economic development. Therefore, these practices should be improved in carefull
and in a controlled manner.

Keywords

Financial Development, Economic Growth, Bootstrap Approach, Turkey

Türkiye’de Finansal Gelişme ve Ekonomik Büyüme Bağlantısı: Bootstrap Yaklaşımına Dayalı Nedensellik Analizi

Abstract

Bu çalışmada
Türkiye için 1986-2016 dönemi yıllık zaman serileri kullanılarak finansal
gelişme ve ekonomik büyüme arasındaki ilişkinin belirlenmesine yönelik
nedensellik analizleri yürütülmüştür. Nedensellik ilişkisinin test edilmesinde
Hacker ve Hatemi-J (2006) tarafından geliştirilen Kaldıraçlı (Leveraged)
Bootstrap yaklaşımı prosedürü takip edilmiştir. Nedensellik analizlerinden elde
edilen bulgular genel olarak nedenselliğin yönünün finansal gelişmeden ekonomik
büyümeye doğru olduğuna işaret etmektedir. Elde edilen bulgular, Türkiye’de
mevcut zaman diliminde, ağırlıklı olarak Arz Öncüllü Hipotez’in desteklendiğini
göstermektedir. Dolayısıyla Türkiye’de finansal gelişmeyi artırmaya dönük
uygulamaların ekonomik büyümeye pozitif yönde katkı sunduğu ve bu tür
uygulamaların kontrollü ve dikkatli bir şekilde geliştirilmesi gerekliliği
çalışmadan elde edilen temel çıkarımdır.

Keywords

Finansal Gelişme, Ekonomik Büyüme, Bootstrap Yaklaşımı, Türkiye

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