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Evaluating the Relationship between Banking Sector, Industrial Development and Economic Growth in Turkey with VAR Analysis

Year 2020, Volume: 12 Issue: 22, 56 - 74, 29.05.2020
https://doi.org/10.20990/kilisiibfakademik.603234

Abstract

The purpose of this study is to determine the
relationship between the banking sector, economic growth and industrial
production in Turkey. Within this framework, annual data for the period
1980-2018 were evaluated with the VAR model. The findings show that there is a
mutual relationship between economic growth and bank loans. It is determined
that the decrease in economic growth will have an increasing effect on bank
loans in the following period. In parallel, bank loans also positively affect
the economic growth in the next period. When these findings are taken into
consideration, it is very important for the banking sector to operate
effectively for a long-term and sustainable economic development. On the other
hand, banks should be able to determine their customers' risk profiles by
performing the credibility analysis of their customers correctly. In this
context, legal regulations for the banking sector play an important role. With
the help of these regulations, both the efficiency of the banking sector should
be increased and the banks' risk taking will be prevented.

References

  • Akel, V. (2015). Kırılgan beşli ülkelerinin hisse senedi piyasaları arasındaki eşbütünleşme analizi. Uluslararası Yönetim İktisat ve İşletme Dergisi, 11(24), 75-96.
  • Alvarez, S. A., Barney, J. B., & Newman, A. M. (2015). The poverty problem and the industrialization solution. Asia Pacific Journal of Management, 32(1), 23-37.
  • Angori, G., Aristei, D., & Gallo, M. (2019). Banking relationships, firm-size heterogeneity and access to credit: evidence from European firms. Finance Research Letters.
  • Ayadi, R., Arbak, E., Naceur, S. B., & De Groen, W. P. (2015). Financial development, bank efficiency, and economic growth across the Mediterranean. In Economic and social development of the Southern and Eastern Mediterranean countries (pp. 219-233). Springer, Cham.
  • Aysan, A. F., Disli, M., Ng, A., & Ozturk, H. (2016). Is small the new big? Islamic banking for SMEs in Turkey. Economic Modelling, 54, 187-194.
  • Bakirtas, T., & Akpolat, A. G. (2018). The relationship between energy consumption, urbanization, and economic growth in new emerging-market countries. Energy, 147, 110-121.
  • Balan, F. (2016). Politik istikrar ve devlet harcamaları ilişkisi: 1986-2013 VAR analizi. Yönetim Bilimleri Dergisi, 14(27), 519-537.
  • Billio, M., Casarin, R., Ravazzolo, F., & Van Dijk, H. K. (2016). Interconnections between eurozone and US booms and busts using a Bayesian panel Markov‐switching VAR model. Journal of Applied Econometrics, 31(7), 1352-1370.
  • Bruno, R. L., Douarin, E., Korosteleva, J., & Radosevic, S. (2015). Technology choices and growth: testing new structural economics in transition economies. Journal of Economic Policy Reform, 18(2), 131-152.
  • Caporale, G. M., Rault, C., Sova, A. D., & Sova, R. (2015). Financial development and economic growth: Evidence from 10 new European Union members. International Journal of Finance & Economics, 20(1), 48-60.
  • Cave, J., Chaudhuri, K., & Kumbhakar, S. C. (2019). Do banking sector and stock market development matter for economic growth?. Empirical Economics, 1-23.
  • Cecchetti, Stephen G. and Kharroubi, Enisse, Why Does Financial Sector Growth Crowd Out Real Economic Growth? (June 2015). CEPR Discussion Paper No. DP10642. Available at SSRN: https://ssrn.com/abstract=2615882
  • Cheremukhin, A., Golosov, M., Guriev, S., & Tsyvinski, A. (2016). The industrialization and economic development of Russia through the lens of a neoclassical growth model. The Review of Economic Studies, 84(2), 613-649.
  • Ciccarelli, C., & Fachin, S. (2017). Regional growth with spatial dependence: A case study on early Italian industrialization. Papers in Regional Science, 96(4), 675-695.
  • Corbet, S., & Larkin, C. (2017). Has the uniformity of banking regulation within the European Union restricted rather than encouraged sectoral development?. International Review of Financial Analysis, 53, 48-65.
  • Dimitrios, A., Helen, L., & Mike, T. (2016). Determinants of non-performing loans: Evidence from Euro-area countries. Finance research letters, 18, 116-119.
  • Dinçer, H., & Yüksel, S. (2018). Comparative evaluation of BSC-based new service development competencies in Turkish banking sector with the integrated fuzzy hybrid MCDM using content analysis. International Journal of Fuzzy Systems, 20(8), 2497-2516.
  • Dinçer, H., Yuksel, S., & Adalı, Z. (2018). Relationship Between Non-Performing Loans, Industry, and Economic Growth of the African Economies and Policy Recommendations for Global Growth. In Globalization and Trade Integration in Developing Countries (pp. 203-228). IGI Global.
  • Dinçer, H., Yüksel, S., & Pınarbaşı, F. (2019a). SERVQUAL-Based Evaluation of Service Quality of Energy Companies in Turkey: Strategic Policies for Sustainable Economic Development. In The Circular Economy and Its Implications on Sustainability and the Green Supply Chain (pp. 142-167). IGI Global.
  • Dinçer, H., Yüksel, S., Eti, S., & Tula, A. (2019b). Effects of Demographic Characteristics on Business Success: An Evidence From Turkish Banking Sector. In Handbook of Research on Business Models in Modern Competitive Scenarios(pp. 304-324). IGI Global.
  • Ductor, L., & Grechyna, D. (2015). Financial development, real sector, and economic growth. International Review of Economics & Finance, 37, 393-405.
  • Durusu-Ciftci, D., Ispir, M. S., & Yetkiner, H. (2017). Financial development and economic growth: Some theory and more evidence. Journal of Policy Modeling, 39(2), 290-306
  • Eti, S. (2019). The Use of Quantitative Methods in Investment Decisions: A Literature Review. In Handbook of Research on Global Issues in Financial Communication and Investment Decision Making (pp. 256-275). IGI Global.
  • Eti, S., Dinçer, H., & Yüksel, S. (2019). G20 Ülkelerinde Bankacılık Sektörünün 5 Yıllık Geleceğinin Arıma Yöntemi İle Tahmin Edilmesi. Uluslararası Hukuk ve Sosyal Bilim Araştırmaları Dergisi, 1(1), 26-38.
  • Gheeraert, L., & Weill, L. (2015). Does Islamic banking development favor macroeconomic efficiency? Evidence on the Islamic finance-growth nexus. Economic modelling, 47, 32-39.
  • Haraguchi, N., Cheng, C. F. C., & Smeets, E. (2017). The Importance of manufacturing in Economic Development: Has this changed?. World Development, 93, 293-315.
  • Hou, X., Gao, Z., & Wang, Q. (2016). Internet finance development and banking market discipline: Evidence from China. Journal of Financial Stability, 22, 88-100.
  • Keola, S., Andersson, M., & Hall, O. (2015). Monitoring economic development from space: using nighttime light and land cover data to measure economic growth. World Development, 66, 322-334.
  • Khan, H. H., Ahmad, R. B., & Gee, C. S. (2016). Market structure, financial dependence and industrial growth: Evidence from the banking industry in emerging Asian economies. PloS one, 11(8), e0160452.
  • Koivu, T. (2002). Do efficient banking sectors accelerate economic growth in transition countries? (No. 14/2002). Bank of Finland, Institute for Economies in Transition.
  • Korkmaz, S. (2015). Impact of bank credits on economic growth and inflation. Journal of Applied Finance and Banking, 5(1), 51.
  • Levine, R. (1998). The legal environment, banks, and long-run economic growth. Journal of money, credit and banking, 596-613.
  • Li, K., & Lin, B. (2015). Measuring green productivity growth of Chinese industrial sectors during 1998–2011. China Economic Review, 36, 279-295.
  • Liang, H., Dong, L., Luo, X., Ren, J., Zhang, N., Gao, Z., & Dou, Y. (2016). Balancing regional industrial development: analysis on regional disparity of China's industrial emissions and policy implications. Journal of cleaner production, 126, 223-235.
  • Lin, J. Y., Sun, X., & Wu, H. X. (2015). Banking structure and industrial growth: Evidence from China. Journal of banking & Finance, 58, 131-143.
  • Liu, Z., Adams, M., Cote, R. P., Geng, Y., Ren, J., Chen, Q., ... & Zhu, X. (2018). Co-benefits accounting for the implementation of eco-industrial development strategies in the scale of industrial park based on emergy analysis. Renewable and Sustainable Energy Reviews, 81, 1522-1529.
  • Mirzaei, A., & Moore, T. (2016). Banking performance and industry growth in an oil-rich economy: Evidence from Qatar. The Quarterly Review of Economics and Finance, 60, 58-69.
  • Pacifico, A. (2019). Structural Panel Bayesian VAR Model to Deal with Model Misspecification and Unobserved Heterogeneity Problems. Econometrics, 7(1), 8.
  • Pagano, M. 1993. Financial markets and growth: An overview. European Economic Review 37, 613-622.
  • Pavlínek, P. (2015). The impact of the 2008–2009 crisis on the automotive industry: global trends and firm-level effects in Central Europe. European Urban and Regional Studies, 22(1), 20-40.
  • Schumpeter, J. A. 1934. The theory of economic development. Cambridge, MA. Harvard University Press.
  • Schwab, L., Gold, S., & Reiner, G. (2019). Exploring financial sustainability of SMEs during periods of production growth: A simulation study. International Journal of Production Economics, 212, 8-18.
  • Tang, C. F. (2019). Transmission channels of oil and finance toward promoting growth in China: the role of industrialization. Applied Economics Letters, 1-5.
  • Tongurai, J., & Vithessonthi, C. (2018). The impact of the banking sector on economic structure and growth. International Review of Financial Analysis, 56, 193-207.
  • Wang, J., Zhao, J., & Li, H. (2018). The electricity consumption and economic growth nexus in China: A bootstrap seemingly unrelated regression estimator approach. Computational Economics, 52(4), 1195-1211.
  • Ye, J., Zhang, A., & Dong, Y. (2019). Banking reform and industry structure: Evidence from China. Journal of Banking & Finance, 104, 70-84.
  • Yüksel, S. (2017). The impacts of research and development expenses on export and economic growth. International Business and Accounting Research Journal, 1(1), 1-8.
  • Zhao, X., Zhang, X., & Shao, S. (2016). Decoupling CO2 emissions and industrial growth in China over 1993–2013: the role of investment. Energy Economics, 60, 275-292.

TÜRKİYE’DEKİ BANKACILIK SEKTÖRÜ, SANAYİ GELİŞİMİ VE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİNİN VAR ANALİZİ İLE İNCELENMESİ

Year 2020, Volume: 12 Issue: 22, 56 - 74, 29.05.2020
https://doi.org/10.20990/kilisiibfakademik.603234

Abstract

Bu çalışmanın amacı, Türkiye’deki ekonomik
büyüme, bankacılık sektörü ve sanayi üretimi arasındaki karşılıklı ilişkinin
belirlenmesidir. Bu çerçevede, 1980-2018 dönem aralığındaki yıllık veriler
Vektör Otoregresyon (VAR) modeliyle test edilmiştir. Elde edilen sonuçlara
göre, ekonomik büyüme ve banka kredileri arasında karşılıklı bir ilişki olduğu
tespit edilmiştir. Ekonomik büyümenin azalmasının bir sonraki dönemde banka
kredileri üzerinde artırıcı bir etki yaratacağı belirlenmiştir. Buna paralel
olarak, banka kredilerinin de bir dönem sonraki ekonomik büyümeyi pozitif yönde
etkilediği görülmektedir. Söz konusu bulgular dikkate alındığında, uzun vadeli
ve sürdürülebilir ekonomi için bankacılık sektörünün etkin bir şekilde
faaliyetini sürdürebilmesi oldukça önemlidir. Diğer taraftan, bankaların kredi
verirken müşterilerinin kredibilite analizini doğru bir şekilde yaparak
müşterilerin risk profillerini belirleyebilmesi gerekmektedir. Bu bağlamda,
bankacılık sektörüne yönelik yapılacak yasal düzenlemeler önemli rol
oynamaktadır. Söz konusu düzenlemeler ile hem bankacılık sektörünün
etkinliğinin artırılması hem de bankaların arışı risk almasını önüne geçilmesi
gerekmektedir.
    

References

  • Akel, V. (2015). Kırılgan beşli ülkelerinin hisse senedi piyasaları arasındaki eşbütünleşme analizi. Uluslararası Yönetim İktisat ve İşletme Dergisi, 11(24), 75-96.
  • Alvarez, S. A., Barney, J. B., & Newman, A. M. (2015). The poverty problem and the industrialization solution. Asia Pacific Journal of Management, 32(1), 23-37.
  • Angori, G., Aristei, D., & Gallo, M. (2019). Banking relationships, firm-size heterogeneity and access to credit: evidence from European firms. Finance Research Letters.
  • Ayadi, R., Arbak, E., Naceur, S. B., & De Groen, W. P. (2015). Financial development, bank efficiency, and economic growth across the Mediterranean. In Economic and social development of the Southern and Eastern Mediterranean countries (pp. 219-233). Springer, Cham.
  • Aysan, A. F., Disli, M., Ng, A., & Ozturk, H. (2016). Is small the new big? Islamic banking for SMEs in Turkey. Economic Modelling, 54, 187-194.
  • Bakirtas, T., & Akpolat, A. G. (2018). The relationship between energy consumption, urbanization, and economic growth in new emerging-market countries. Energy, 147, 110-121.
  • Balan, F. (2016). Politik istikrar ve devlet harcamaları ilişkisi: 1986-2013 VAR analizi. Yönetim Bilimleri Dergisi, 14(27), 519-537.
  • Billio, M., Casarin, R., Ravazzolo, F., & Van Dijk, H. K. (2016). Interconnections between eurozone and US booms and busts using a Bayesian panel Markov‐switching VAR model. Journal of Applied Econometrics, 31(7), 1352-1370.
  • Bruno, R. L., Douarin, E., Korosteleva, J., & Radosevic, S. (2015). Technology choices and growth: testing new structural economics in transition economies. Journal of Economic Policy Reform, 18(2), 131-152.
  • Caporale, G. M., Rault, C., Sova, A. D., & Sova, R. (2015). Financial development and economic growth: Evidence from 10 new European Union members. International Journal of Finance & Economics, 20(1), 48-60.
  • Cave, J., Chaudhuri, K., & Kumbhakar, S. C. (2019). Do banking sector and stock market development matter for economic growth?. Empirical Economics, 1-23.
  • Cecchetti, Stephen G. and Kharroubi, Enisse, Why Does Financial Sector Growth Crowd Out Real Economic Growth? (June 2015). CEPR Discussion Paper No. DP10642. Available at SSRN: https://ssrn.com/abstract=2615882
  • Cheremukhin, A., Golosov, M., Guriev, S., & Tsyvinski, A. (2016). The industrialization and economic development of Russia through the lens of a neoclassical growth model. The Review of Economic Studies, 84(2), 613-649.
  • Ciccarelli, C., & Fachin, S. (2017). Regional growth with spatial dependence: A case study on early Italian industrialization. Papers in Regional Science, 96(4), 675-695.
  • Corbet, S., & Larkin, C. (2017). Has the uniformity of banking regulation within the European Union restricted rather than encouraged sectoral development?. International Review of Financial Analysis, 53, 48-65.
  • Dimitrios, A., Helen, L., & Mike, T. (2016). Determinants of non-performing loans: Evidence from Euro-area countries. Finance research letters, 18, 116-119.
  • Dinçer, H., & Yüksel, S. (2018). Comparative evaluation of BSC-based new service development competencies in Turkish banking sector with the integrated fuzzy hybrid MCDM using content analysis. International Journal of Fuzzy Systems, 20(8), 2497-2516.
  • Dinçer, H., Yuksel, S., & Adalı, Z. (2018). Relationship Between Non-Performing Loans, Industry, and Economic Growth of the African Economies and Policy Recommendations for Global Growth. In Globalization and Trade Integration in Developing Countries (pp. 203-228). IGI Global.
  • Dinçer, H., Yüksel, S., & Pınarbaşı, F. (2019a). SERVQUAL-Based Evaluation of Service Quality of Energy Companies in Turkey: Strategic Policies for Sustainable Economic Development. In The Circular Economy and Its Implications on Sustainability and the Green Supply Chain (pp. 142-167). IGI Global.
  • Dinçer, H., Yüksel, S., Eti, S., & Tula, A. (2019b). Effects of Demographic Characteristics on Business Success: An Evidence From Turkish Banking Sector. In Handbook of Research on Business Models in Modern Competitive Scenarios(pp. 304-324). IGI Global.
  • Ductor, L., & Grechyna, D. (2015). Financial development, real sector, and economic growth. International Review of Economics & Finance, 37, 393-405.
  • Durusu-Ciftci, D., Ispir, M. S., & Yetkiner, H. (2017). Financial development and economic growth: Some theory and more evidence. Journal of Policy Modeling, 39(2), 290-306
  • Eti, S. (2019). The Use of Quantitative Methods in Investment Decisions: A Literature Review. In Handbook of Research on Global Issues in Financial Communication and Investment Decision Making (pp. 256-275). IGI Global.
  • Eti, S., Dinçer, H., & Yüksel, S. (2019). G20 Ülkelerinde Bankacılık Sektörünün 5 Yıllık Geleceğinin Arıma Yöntemi İle Tahmin Edilmesi. Uluslararası Hukuk ve Sosyal Bilim Araştırmaları Dergisi, 1(1), 26-38.
  • Gheeraert, L., & Weill, L. (2015). Does Islamic banking development favor macroeconomic efficiency? Evidence on the Islamic finance-growth nexus. Economic modelling, 47, 32-39.
  • Haraguchi, N., Cheng, C. F. C., & Smeets, E. (2017). The Importance of manufacturing in Economic Development: Has this changed?. World Development, 93, 293-315.
  • Hou, X., Gao, Z., & Wang, Q. (2016). Internet finance development and banking market discipline: Evidence from China. Journal of Financial Stability, 22, 88-100.
  • Keola, S., Andersson, M., & Hall, O. (2015). Monitoring economic development from space: using nighttime light and land cover data to measure economic growth. World Development, 66, 322-334.
  • Khan, H. H., Ahmad, R. B., & Gee, C. S. (2016). Market structure, financial dependence and industrial growth: Evidence from the banking industry in emerging Asian economies. PloS one, 11(8), e0160452.
  • Koivu, T. (2002). Do efficient banking sectors accelerate economic growth in transition countries? (No. 14/2002). Bank of Finland, Institute for Economies in Transition.
  • Korkmaz, S. (2015). Impact of bank credits on economic growth and inflation. Journal of Applied Finance and Banking, 5(1), 51.
  • Levine, R. (1998). The legal environment, banks, and long-run economic growth. Journal of money, credit and banking, 596-613.
  • Li, K., & Lin, B. (2015). Measuring green productivity growth of Chinese industrial sectors during 1998–2011. China Economic Review, 36, 279-295.
  • Liang, H., Dong, L., Luo, X., Ren, J., Zhang, N., Gao, Z., & Dou, Y. (2016). Balancing regional industrial development: analysis on regional disparity of China's industrial emissions and policy implications. Journal of cleaner production, 126, 223-235.
  • Lin, J. Y., Sun, X., & Wu, H. X. (2015). Banking structure and industrial growth: Evidence from China. Journal of banking & Finance, 58, 131-143.
  • Liu, Z., Adams, M., Cote, R. P., Geng, Y., Ren, J., Chen, Q., ... & Zhu, X. (2018). Co-benefits accounting for the implementation of eco-industrial development strategies in the scale of industrial park based on emergy analysis. Renewable and Sustainable Energy Reviews, 81, 1522-1529.
  • Mirzaei, A., & Moore, T. (2016). Banking performance and industry growth in an oil-rich economy: Evidence from Qatar. The Quarterly Review of Economics and Finance, 60, 58-69.
  • Pacifico, A. (2019). Structural Panel Bayesian VAR Model to Deal with Model Misspecification and Unobserved Heterogeneity Problems. Econometrics, 7(1), 8.
  • Pagano, M. 1993. Financial markets and growth: An overview. European Economic Review 37, 613-622.
  • Pavlínek, P. (2015). The impact of the 2008–2009 crisis on the automotive industry: global trends and firm-level effects in Central Europe. European Urban and Regional Studies, 22(1), 20-40.
  • Schumpeter, J. A. 1934. The theory of economic development. Cambridge, MA. Harvard University Press.
  • Schwab, L., Gold, S., & Reiner, G. (2019). Exploring financial sustainability of SMEs during periods of production growth: A simulation study. International Journal of Production Economics, 212, 8-18.
  • Tang, C. F. (2019). Transmission channels of oil and finance toward promoting growth in China: the role of industrialization. Applied Economics Letters, 1-5.
  • Tongurai, J., & Vithessonthi, C. (2018). The impact of the banking sector on economic structure and growth. International Review of Financial Analysis, 56, 193-207.
  • Wang, J., Zhao, J., & Li, H. (2018). The electricity consumption and economic growth nexus in China: A bootstrap seemingly unrelated regression estimator approach. Computational Economics, 52(4), 1195-1211.
  • Ye, J., Zhang, A., & Dong, Y. (2019). Banking reform and industry structure: Evidence from China. Journal of Banking & Finance, 104, 70-84.
  • Yüksel, S. (2017). The impacts of research and development expenses on export and economic growth. International Business and Accounting Research Journal, 1(1), 1-8.
  • Zhao, X., Zhang, X., & Shao, S. (2016). Decoupling CO2 emissions and industrial growth in China over 1993–2013: the role of investment. Energy Economics, 60, 275-292.
There are 48 citations in total.

Details

Primary Language Turkish
Subjects Economics
Journal Section RESEARCH PAPERS
Authors

Hakan Kalkavan 0000-0003-4482-0505

Serkan Eti 0000-0002-4791-4091

Serhat Yüksel 0000-0002-9858-1266

Publication Date May 29, 2020
Published in Issue Year 2020 Volume: 12 Issue: 22

Cite

APA Kalkavan, H., Eti, S., & Yüksel, S. (2020). TÜRKİYE’DEKİ BANKACILIK SEKTÖRÜ, SANAYİ GELİŞİMİ VE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİNİN VAR ANALİZİ İLE İNCELENMESİ. Akademik Araştırmalar Ve Çalışmalar Dergisi (AKAD), 12(22), 56-74. https://doi.org/10.20990/kilisiibfakademik.603234
AMA Kalkavan H, Eti S, Yüksel S. TÜRKİYE’DEKİ BANKACILIK SEKTÖRÜ, SANAYİ GELİŞİMİ VE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİNİN VAR ANALİZİ İLE İNCELENMESİ. Akademik Araştırmalar ve Çalışmalar Dergisi (AKAD). May 2020;12(22):56-74. doi:10.20990/kilisiibfakademik.603234
Chicago Kalkavan, Hakan, Serkan Eti, and Serhat Yüksel. “TÜRKİYE’DEKİ BANKACILIK SEKTÖRÜ, SANAYİ GELİŞİMİ VE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİNİN VAR ANALİZİ İLE İNCELENMESİ”. Akademik Araştırmalar Ve Çalışmalar Dergisi (AKAD) 12, no. 22 (May 2020): 56-74. https://doi.org/10.20990/kilisiibfakademik.603234.
EndNote Kalkavan H, Eti S, Yüksel S (May 1, 2020) TÜRKİYE’DEKİ BANKACILIK SEKTÖRÜ, SANAYİ GELİŞİMİ VE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİNİN VAR ANALİZİ İLE İNCELENMESİ. Akademik Araştırmalar ve Çalışmalar Dergisi (AKAD) 12 22 56–74.
IEEE H. Kalkavan, S. Eti, and S. Yüksel, “TÜRKİYE’DEKİ BANKACILIK SEKTÖRÜ, SANAYİ GELİŞİMİ VE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİNİN VAR ANALİZİ İLE İNCELENMESİ”, Akademik Araştırmalar ve Çalışmalar Dergisi (AKAD), vol. 12, no. 22, pp. 56–74, 2020, doi: 10.20990/kilisiibfakademik.603234.
ISNAD Kalkavan, Hakan et al. “TÜRKİYE’DEKİ BANKACILIK SEKTÖRÜ, SANAYİ GELİŞİMİ VE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİNİN VAR ANALİZİ İLE İNCELENMESİ”. Akademik Araştırmalar ve Çalışmalar Dergisi (AKAD) 12/22 (May 2020), 56-74. https://doi.org/10.20990/kilisiibfakademik.603234.
JAMA Kalkavan H, Eti S, Yüksel S. TÜRKİYE’DEKİ BANKACILIK SEKTÖRÜ, SANAYİ GELİŞİMİ VE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİNİN VAR ANALİZİ İLE İNCELENMESİ. Akademik Araştırmalar ve Çalışmalar Dergisi (AKAD). 2020;12:56–74.
MLA Kalkavan, Hakan et al. “TÜRKİYE’DEKİ BANKACILIK SEKTÖRÜ, SANAYİ GELİŞİMİ VE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİNİN VAR ANALİZİ İLE İNCELENMESİ”. Akademik Araştırmalar Ve Çalışmalar Dergisi (AKAD), vol. 12, no. 22, 2020, pp. 56-74, doi:10.20990/kilisiibfakademik.603234.
Vancouver Kalkavan H, Eti S, Yüksel S. TÜRKİYE’DEKİ BANKACILIK SEKTÖRÜ, SANAYİ GELİŞİMİ VE EKONOMİK BÜYÜME ARASINDAKİ İLİŞKİNİN VAR ANALİZİ İLE İNCELENMESİ. Akademik Araştırmalar ve Çalışmalar Dergisi (AKAD). 2020;12(22):56-74.