ISLAMIC FINANCE DEVELOPMENT AND ECONOMIC GROWTH: EMPIRICAL EVIDENCE FROM TURKEY

Year 2017, Volume: 4 Issue: 1, 31 - 47, 12.02.2017

Mustapha Jobarteh Etem Hakan Ergec

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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