ISLAMIC FINANCE AND ECONOMIC GROWTH: AN ECONOMETRIC APPLICATION ON TURKEY

Year 2018, , 67 - 91, 04.07.2018

Emrah Koçak

https://doi.org/10.18070/erciyesiibd.440612

Cited By: 11

Abstract

This paper investigates the relationship between Islamic finance and
economic growth for the period 2005: Q4-2015 :Q2 in Turkey. In this context,
firstly, the paper employs unit root tests and cointegration tests with
structural breaks. Then, the paper considers long run impact of Islamic finance
on economic growth in Turkey through dynamic ordinary least squares estimation
and Granger causality test based on vector error correction. The cointegration
test, dynamic ordinary least squares estimator and causality test results show
that Islamic finance has a positive and unidirectional impact on economic
growth in Turkey. This results exhibit that Islamic finance has a significant
effect on economic growth in Turkey.

Keywords

Islamic Banking and Finance, Economic Growth, Cointegration, Causality, Turkey

İSLAMİ FİNANS VE EKONOMİK BÜYÜME: TÜRKİYE ÜZERİNE EKONOMETRİK BİR UYGULAMA

Abstract

Bu
çalışma 2005: Ç4-2015: Ç2 dönemi Türkiye’ de İslami finans ve ekonomik büyüme
arasındaki ilişkiyi araştırmaktadır. Bu kapsamda, öncelikle yapısal kırılmalı
birim kök ve eşbütünleşme testleri kullanılmıştır. Daha sonra İslami finansın
ekonomik büyüme üzerindeki etkisi dinamik en küçük kareler ve vektör hata
düzeltme modeline dayalı Granger nedensellik testi ile değerlendirilmiştir.
Eşbütünleşme, dinamik en küçük kareler ve nedensellik test bulguları Türkiye’
de İslami finansın ekonomik büyüme üzerinde pozitif ve tek yönlü bir etkisi
olduğunu göstermektedir. Bu sonuçlar, Türkiye’de İslami finansın ekonomik
büyüme üzerinde anlamlı bir etkisi olduğunu ortaya koymaktadır.

Keywords

İslami Bankacılık ve Finans, Ekonomik Büyüme, Eşbütünleşme, Nedensellik, Türkiye

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