ISLAMIC FINANCE DEVELOPMENT AND ECONOMIC GROWTH: EMPIRICAL EVIDENCE FROM TURKEY

Abstract

This work is a study on Islamic finance development and economic growth nexus for Turkey. It employs the econometric methods of unit root, co-integration, and Granger causality in a VECM framework; and the results, which are robust to all measures of Islamic finance development, show a unidirectional short and long run causality from Islamic finance development to economic growth. Hence, it is recommended that policy makers increase their efforts in promoting Islamic finance in Turkey.

Keywords

• Islamic finance development,Granger causality,Turkey

İSLAMİ FİNANSAL GELİŞME VE İKTİSADİ BÜYÜME: TÜRKİYE İÇİN UYGULAMALI BİR ÇALIŞMA

Abstract

Bu çalışma Türkiye’de İslami finansal gelişmeyle iktisadi büyüme arasındaki bağı araştırmaktadır. Çalışmada, VECM çerçevesi içinde ekonometrik birim kök, eş-bütünleşme ve Granger nedensellik metodları kullanılmaktadır. Elde edilen sonuçlara göre kısa ve uzun dönemde İslami finansal gelişmeden iktisadi büyümeye doğru tek taraflı bir nedensellik vardır ve sonuçların hepsi İslami finansal gelişme ölçümlerinin hepsi için güçlüdür. Dolayısıyla, politika karar alıcıları Türkiye’de İslami finansal gelişimi daha fazla desteklemelidirler.   

Keywords

• İslami finansal gelişme,Granger nedensellik,Türkiye

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