Araştırma Makalesi
BibTex RIS Kaynak Göster

Finansal Gelişme ve Ekonomik Büyüme Arasındaki İlişki: Avrupa Geçiş Ekonomileri Örneği

Yıl 2017, Cilt: 12 Sayı: 1, 121 - 140, 01.04.2017
https://doi.org/10.17153/oguiibf.298769

Öz

Bu
çalışmanın amacı, Avrupa geçiş ekonomileri kapsamında finansal gelişme ve
ekonomik büyüme arasındaki ilişkinin incelenmesidir. Bu doğrultuda,
araştırmada, finansı ekonomik büyümenin temel değişkeni olarak kabul eden Barro
(1991) tipi ekonomik büyüme modeli ele alınmıştır. Finansal gelişmişlik ve
ekonomik büyüme arasındaki ilişkinin analiz edilmesi için reel gayri safi
yurtiçi hasıla ve finansal gelişmişlik endeksinin yer aldığı ekonometrik bir
model oluşturulmuştur. Ampirik modelde, panel veri analizi kapsamında,
öncelikle değişkenlerin heterojenliği, ardından yatay kesit bağımlılığı
incelenmiştir. Ayrıca değişkenlerin durağanlığı, ikinci nesil birim kök testi
yardımıyla analiz edilmiştir. 
Değişkenler arası eş-bütünleşik ilişki ispatlandıktan sonra, uzun dönem
regresyon katsayıları tahmin edilmiş, ardından değişkenler arası nedensellik
ilişkisi araştırılmıştır. Söz konusu ülkeler için, uzun dönemde, finansal
gelişmişlikten ekonomik büyümeye doğru tek yönlü bir nedensellik ilişkisinin
olduğu sonucuna ulaşılmıştır.   

Kaynakça

  • AĞAYEV, S. (2012), “Geçiş Ekonomilerinde Finansal Gelişme ve Ekonomik Büyüme İlişkisi”, Marmara Üniversitesi, İİBF Dergisi, 32(1), 155-164.
  • AKINCI, G., Y. , AKINCI, M. ve Ö. YILMAZ (2014), “Financial Development Economic Growth Nexus: A Panel Data Analysis Upon OECD Countries”, Hitotsubashi Journal Of Economics, 55(1), 33-50.
  • AKİMOV, A., WİJEWERAA, A., ve B. DOLLERY, (2009), “Financial Development and Economic Growth: EvidencefromT-ransitonEconomies”, Applied Financial Economics, 2009, 19(12), 999-1008.
  • ARIÇ, K. H. (2014), “The Effects of Financial Development on Economic Growth in the European Union: A Panel Data Analysis”, International Journal of Economic Practices and Theories, 4(4), 466-471.
  • AYDIN, K., M., AK, M. Z. ve N. ALTUNTAŞ (2013), “Çevre Ülkelerinde Finansal Gelişme ile Büyüme Arasındaki İlişki: Panel Veri Analizi”. H. Ü. İktisadi ve İdari Bilimler Fakültesi Dergisi, 31(2), 1-14.
  • BARRO, R. J., (1991), “Economic Growth in a Cross Section of Countries”,The QuarterlyJournal of Economics, 106, (2), 407-443.
  • BARRO, R. J., ve X. SALA-İ MARTİN, (1995), Economic Growth, London: MIT Press.
  • BOZOKLU, Ş. ve V. Yılancı (2011), “Finansal Gelişme ve İktisadi Büyüme Arasındaki Nedensellik İlişkisi: Gelişmekte Olan Ekonomiler İçin Analiz”, Dokuz Eylül Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 28(2), 161-187.
  • BREUSCH, T. S., ve A. R. PAGAN, (1980), “The Lagrange Multiplier Test and Its Applications to Model Specification in Econometrics”, Review of Economic Studies, 47, 239-253.
  • CAPORALE, M. C., RAULT, C. ve A. SOVA, (2009), “Financial Development and Economic Growth: Evidence From Ten New EU Members”, DIW Berlin, DiscussionPapers, 904, 1-39.
  • COJACARU, L. HOFFMAN, S. ve J. MİLLER, (2011), “Financial Development and Economic Growth: Emprical Evidence From CEE and CIS Countries”,WorkingPaper Series, 22, 1-30.
  • CORICELLI, F., CAPRIO, G., HONOHAN, P., ve J. STIGLITZ, (2011), The Financial Sector in Transition: Tales of Success and Failure. Financial Liberalization How Far, How Fast?, Cambridge University Press.
  • DEMETRIADES P. O., ve H. A. KHALED (1996), “Does Financial Development Cause Economic Growth? Time Series Evidence from 16 Countries”, Journal of Development Economics, 51(2), 1996, 387-411.
  • DEMİRBUGAN, A., M., (2005), “Doğu Avrupa ve Bağımsız Devletler Topluluğu Ülkeleri’nin Ekonomik Dönüşüm Süre-cinde Temel Eğilimler”, Afyon Kocatepe Üniversitesi, İktisadi ve İdari Bilimler Fakültesi Dergisi, 7(2), 165-179.
  • DUDIAN, M., P., ve A. RALUCA, (2013),“Financial Development and Economic Growth in Central and Eastern Euro-pe”,Theoretical and Applied Economics, 20 (8/585), 59-68.
  • DUMETRISCU, E. ve C. HURLİN, (2012), “Testing for Granger Non-Causality in Heterogeneous Panels”, Economic Modelling, 29(4), 1450-1460.
  • EBERHARDT, M., ve F. J. TEAL, (2009), “A Common Factor Approach to Spatial Heterogeneity in Agricultural Producti-vity Analysis”, University Library of Munich, MPRA Paper, 15810, 1-27.
  • ERATAŞ, F., (2012), “Döviz Kuru ve Ekonomik Büyüme Ekseninde Krugman 45 Derece Kuralının Geçerliği: Küresel Bir Analiz”, Dokuz Eylül Üniversitesi, Sosyal Bilimler Enstitüsü (Yayımlanmamış Yüksek Lisans Tezi).
  • ERATAŞ, F., ve A. Ö. AKÇAY, (2012), “Cari Açık ve Büyüme İlişkisinin Panel Nedensellik Analizi Ekseninde Değerlendi-rilmesi”,2012,http://www. teacongress.org/papers2012/AKCAY-ERATAS.pdf, (01.01.2016)
  • ERATAŞ, F. ve H. BAŞCI NUR, (2014), “Dış Borç ve Ekonomik Büyüme İlişkisi: ‘Yükselen Piyasa Ekonomileri Örneği”, Marmara Üniversitesi, İİBF Dergisi, 35(2), 207-230.
  • ERATAŞ, F. ve D. UYSAL, (2014), “ Çevresel Kuznets Eğrisi Yaklaşımının ‘BRICT’ Ülkeleri Kapsamında Değerlendirilme-si”, İktisat Fakültesi Mecmuası, 64(1), 1-25.
  • FINK, G., HAISS, P. ve G. VUKSIC, (2009), “Contribution of Financial Market Segments at Different Stages of Develop-ment: Transition, Cohesion and Mature Economies Compared”, Journal of Financial Stability, 5 (4), 431-455.
  • GOLDSMITH, R., (1969), Financial Structure and Development, New Haven: Yale University Press.
  • GÖÇER, İ., (2013), “Ar-Ge Harcamalarının Yüksek Teknolojili Ürün İhracatı, Dış Ticaret Dengesi ve Ekonomik Büyüme Üzerindeki Etkileri”, Maliye Dergisi, 165, 215-240.
  • GÜLOĞLU, B. ve S. İSPİR, (2009), Yeni Gelişmeler Işığında Türkiye’de Satın Alma Gücü Paritesi Önsavının Panel Birim Kök Sınaması, Pamukkale Üniversitesi İ.İ.B.F. İktisat Bölümü Yayınları.
  • GÜLOĞLU, B. ve M., İVRENDİ, (2010), “Output Fluctuations: Transitory or Permanent? The case of Latin America”, Applied Economics Letters, 17, 381-386.
  • HAGMAYR, B., HAISS, P. ve K. SÜMEGI, (2007), “Financial Sector Development and Economic Growth-Evidence for Southeastern Europe”, Research Gate, 2007,http://www.researchgate.net/publication/228255390_Financial_Sector_Development_and_Economic_Growth_Evidence_for_Southeastern_Europe,ErişimTarihi: 04.11.2015.
  • HOTELLING, H., (1993), “Analysis of a Complex of Statistical Variables into Principal Components”, Journal of Educati-onal Psychology, 24(6-7), 417-520.
  • JOLİFFE, I., T., (2002), Principal Component Analysis, İkinci Baskı, New York: Springer-Verlag.
  • KENOURGIOS, D., ve A. SAMITAS, (2007), “Financial Development and Economic Growth in a Transition Economy: Evidence for Poland”, Journal of Financial Decision Making, 3(1), 35-48.
  • KING, R., G., ve R. LEVINE, (1993), “Finance, Entrepreneurship, and Growth: Theory and Evidence”, Journal of Mone-tary Economics, 32(3), 513-42.
  • KING, R. , G., ve R. LEVINE, (1993), “Finance and Growth: Schumpeter Might Be Right”, Quarterly Journal of Econom-ics, 108(3), 717-37.
  • KOIVU, T. (2002), “Do Efficient Banking Sectors Accelerate Economic Growth in Transition Countries?”, BOFIT Discus-sion Paper, http://econwpa.repec.org/eps/mac/papers/0212/0212013.pdf (01.01.2016).
  • LA PORTA, R., LOPEZ-DE-SILANES, F., SHLEIFER, A. ve R., W. VISHNY, (1997), “Legal Determinants of External Fi-nance”, The Journal of Finance, 52(3), 1131-1150.
  • LEVINE, R., (2004), “Finance and Growth: Theory and Evidence”, NBER Working Paper.
  • LUCAS, R., E., (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, 22(1), 3-42.
  • MEHL, A., VESPRO, C. ve A. WINKLER, (2009), “Financial Sector Development in South-Eastern Europe: Quality Mat-ters”, Financial Development, Integration and Stability, United King-dom,http://www.elgaronline.com/view/1845429672.00020.xml (01.01.2016).
  • MENYAH, K., NAZLIOĞLU, Ş. Ve R. WOLDE-RUFAEL, (2014), “Financial Development, Trade Openness and Economic Growth in African Countries: New Insight from A Panel Causality Approach”, Economic Modelling, 37, 386-394.
  • MERCAN, M. ve İ. GÖÇER (2013), “The Effect of Financial Development on Economic Growth in BRICT Countries: Panel Data Analysis”. Journal of Economics and Social Sciences, 3(1), 199-216.
  • NAZLIOĞLU, Ş. (2010), Makro İktisat Politikalarının Tarım Sektörü Üzerindeki Etkisi: Gelişmiş ve Gelişmekte Olan Ülkeler İçin Bir Karşılaştırma, Erciyes Üniversitesi, Sosyal Bilimler Enstitüsü, Yayımlanmamış Doktora Tezi.
  • OBRADOVİC, S. ve M. GRBİC, (2015), “Causality Relationship Between Financial Intermediation by Banks and Econo-mic Growth: EvindenceFromSerbia”, Prague Economic Papers, 24(1), 60-72.
  • PESARAN, H., M., (2004), “General Diagnostic Tests for Cross Section Dependence in Panels”, Working Paper, 0435, University of Cambridge.
  • PESARAN, H., M., (2006), “Estimation and Inference in Large Heterogeneous Panels with a Multifactor Error Structu-re”,Econometrica, 74(4), 967- 1012.
  • PESARAN, H., M., (2007), “A Simple Panel Unitroot Test in the Presence Of Cross-Section Dependence”, Journal of Applied Economics, 22, 265-312.
  • PESARAN, H., M., ve T. YAMAGATA, (2008), “Testing Slope Homogeneity in Large Panels”, Journal of Econometrics, 142, 50-93.
  • PESARAN, H., M., ULLAH, A. ve T. YAMAGATA, (2008), “A Bias-Adjusted LM test of Error Crosssection Independence”, The Econometrics Journal, 11(1), 105-127.
  • PETKOVSKI, M. ve J. KJOKEVSKİ, (2014),“Does Banking Sector Development Promote Economic Growth? Am Emprical Analysis for Selected Countries in Central and South Eastern Europe”,Economic Research, 27(1), 55-66.
  • PRADHAN, R., P., DASGUPTA, P. ve S. BELE, (2013), “Finance, Development and Economic Growth in BRICS: A Panel Data Analysis”, Journal of QuantitativeEconomics, 11(6), 308-322.
  • REDEK, T. Ve A. SUSJAN, (2005), “The Impact of Institutions on Economic Growth: The Case of Transition Economies”, 39(4), 995-1027.
  • ROBİNSON J., (1952), The Rate of Interest and Other Essays, London: Macmillan.
  • ROBINSON, J. (1952), “The Generalization of the General Theory”, In The Rate of Interest and Other Essays, London, Macmillan, 69-142.
  • SCHUMPETER, J. A., (1912), The Theory of Economic Development, Cambridge: Harvard University Press.
  • SCHUMPETER, J. A., (1934), The Theory of Economic Development; An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle, Çev. Opie, R. Cambridge: Harvard University Press.
  • SOULTANEVA, A., (2011), “Financial Intermediation and Economic Growth: Evidence From the Baltic Countries”, Umea Economic Studies, 187, 1-11.
  • WESTERLUND, J., (2008), “Panel Cointegration Tests of The Fisher Effect”, Journal of Applied Econometrics, 23, 193-233.
  • WINKLER, A., (2009), “Southeastern Europe: Financial Deepening, Foreign Banks and Sudden Stops in Capital Flows”, Focus on European Economic Integration, 1, 84-97.

The Relationship Between Financial Development And Economic Growth: Evidence From European Transition Economies

Yıl 2017, Cilt: 12 Sayı: 1, 121 - 140, 01.04.2017
https://doi.org/10.17153/oguiibf.298769

Öz

The main purpose of this paper is to investigate the relationship
between financial development and economic growth, based on European transition
economies. For this purpose we used Barro (1991) type growth model which
claimed that finance is a key to economic growth. The model includes real gross
domestic product (GDP) and composite index of financial development (FD). At
the empirical model, scope of the panel data analysis, primarily the
heterogeneity of variables were investigated and then the cross-section
dependency was examined. Also, stability of the series was tested with the
second-generation unit root tests. After the existence of the co-integration
relationship between the series, long term regression parameters were examined.
According to the empirical results, in the long term, it is expected that there
is a one way relationship from financial development to growth.

Kaynakça

  • AĞAYEV, S. (2012), “Geçiş Ekonomilerinde Finansal Gelişme ve Ekonomik Büyüme İlişkisi”, Marmara Üniversitesi, İİBF Dergisi, 32(1), 155-164.
  • AKINCI, G., Y. , AKINCI, M. ve Ö. YILMAZ (2014), “Financial Development Economic Growth Nexus: A Panel Data Analysis Upon OECD Countries”, Hitotsubashi Journal Of Economics, 55(1), 33-50.
  • AKİMOV, A., WİJEWERAA, A., ve B. DOLLERY, (2009), “Financial Development and Economic Growth: EvidencefromT-ransitonEconomies”, Applied Financial Economics, 2009, 19(12), 999-1008.
  • ARIÇ, K. H. (2014), “The Effects of Financial Development on Economic Growth in the European Union: A Panel Data Analysis”, International Journal of Economic Practices and Theories, 4(4), 466-471.
  • AYDIN, K., M., AK, M. Z. ve N. ALTUNTAŞ (2013), “Çevre Ülkelerinde Finansal Gelişme ile Büyüme Arasındaki İlişki: Panel Veri Analizi”. H. Ü. İktisadi ve İdari Bilimler Fakültesi Dergisi, 31(2), 1-14.
  • BARRO, R. J., (1991), “Economic Growth in a Cross Section of Countries”,The QuarterlyJournal of Economics, 106, (2), 407-443.
  • BARRO, R. J., ve X. SALA-İ MARTİN, (1995), Economic Growth, London: MIT Press.
  • BOZOKLU, Ş. ve V. Yılancı (2011), “Finansal Gelişme ve İktisadi Büyüme Arasındaki Nedensellik İlişkisi: Gelişmekte Olan Ekonomiler İçin Analiz”, Dokuz Eylül Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 28(2), 161-187.
  • BREUSCH, T. S., ve A. R. PAGAN, (1980), “The Lagrange Multiplier Test and Its Applications to Model Specification in Econometrics”, Review of Economic Studies, 47, 239-253.
  • CAPORALE, M. C., RAULT, C. ve A. SOVA, (2009), “Financial Development and Economic Growth: Evidence From Ten New EU Members”, DIW Berlin, DiscussionPapers, 904, 1-39.
  • COJACARU, L. HOFFMAN, S. ve J. MİLLER, (2011), “Financial Development and Economic Growth: Emprical Evidence From CEE and CIS Countries”,WorkingPaper Series, 22, 1-30.
  • CORICELLI, F., CAPRIO, G., HONOHAN, P., ve J. STIGLITZ, (2011), The Financial Sector in Transition: Tales of Success and Failure. Financial Liberalization How Far, How Fast?, Cambridge University Press.
  • DEMETRIADES P. O., ve H. A. KHALED (1996), “Does Financial Development Cause Economic Growth? Time Series Evidence from 16 Countries”, Journal of Development Economics, 51(2), 1996, 387-411.
  • DEMİRBUGAN, A., M., (2005), “Doğu Avrupa ve Bağımsız Devletler Topluluğu Ülkeleri’nin Ekonomik Dönüşüm Süre-cinde Temel Eğilimler”, Afyon Kocatepe Üniversitesi, İktisadi ve İdari Bilimler Fakültesi Dergisi, 7(2), 165-179.
  • DUDIAN, M., P., ve A. RALUCA, (2013),“Financial Development and Economic Growth in Central and Eastern Euro-pe”,Theoretical and Applied Economics, 20 (8/585), 59-68.
  • DUMETRISCU, E. ve C. HURLİN, (2012), “Testing for Granger Non-Causality in Heterogeneous Panels”, Economic Modelling, 29(4), 1450-1460.
  • EBERHARDT, M., ve F. J. TEAL, (2009), “A Common Factor Approach to Spatial Heterogeneity in Agricultural Producti-vity Analysis”, University Library of Munich, MPRA Paper, 15810, 1-27.
  • ERATAŞ, F., (2012), “Döviz Kuru ve Ekonomik Büyüme Ekseninde Krugman 45 Derece Kuralının Geçerliği: Küresel Bir Analiz”, Dokuz Eylül Üniversitesi, Sosyal Bilimler Enstitüsü (Yayımlanmamış Yüksek Lisans Tezi).
  • ERATAŞ, F., ve A. Ö. AKÇAY, (2012), “Cari Açık ve Büyüme İlişkisinin Panel Nedensellik Analizi Ekseninde Değerlendi-rilmesi”,2012,http://www. teacongress.org/papers2012/AKCAY-ERATAS.pdf, (01.01.2016)
  • ERATAŞ, F. ve H. BAŞCI NUR, (2014), “Dış Borç ve Ekonomik Büyüme İlişkisi: ‘Yükselen Piyasa Ekonomileri Örneği”, Marmara Üniversitesi, İİBF Dergisi, 35(2), 207-230.
  • ERATAŞ, F. ve D. UYSAL, (2014), “ Çevresel Kuznets Eğrisi Yaklaşımının ‘BRICT’ Ülkeleri Kapsamında Değerlendirilme-si”, İktisat Fakültesi Mecmuası, 64(1), 1-25.
  • FINK, G., HAISS, P. ve G. VUKSIC, (2009), “Contribution of Financial Market Segments at Different Stages of Develop-ment: Transition, Cohesion and Mature Economies Compared”, Journal of Financial Stability, 5 (4), 431-455.
  • GOLDSMITH, R., (1969), Financial Structure and Development, New Haven: Yale University Press.
  • GÖÇER, İ., (2013), “Ar-Ge Harcamalarının Yüksek Teknolojili Ürün İhracatı, Dış Ticaret Dengesi ve Ekonomik Büyüme Üzerindeki Etkileri”, Maliye Dergisi, 165, 215-240.
  • GÜLOĞLU, B. ve S. İSPİR, (2009), Yeni Gelişmeler Işığında Türkiye’de Satın Alma Gücü Paritesi Önsavının Panel Birim Kök Sınaması, Pamukkale Üniversitesi İ.İ.B.F. İktisat Bölümü Yayınları.
  • GÜLOĞLU, B. ve M., İVRENDİ, (2010), “Output Fluctuations: Transitory or Permanent? The case of Latin America”, Applied Economics Letters, 17, 381-386.
  • HAGMAYR, B., HAISS, P. ve K. SÜMEGI, (2007), “Financial Sector Development and Economic Growth-Evidence for Southeastern Europe”, Research Gate, 2007,http://www.researchgate.net/publication/228255390_Financial_Sector_Development_and_Economic_Growth_Evidence_for_Southeastern_Europe,ErişimTarihi: 04.11.2015.
  • HOTELLING, H., (1993), “Analysis of a Complex of Statistical Variables into Principal Components”, Journal of Educati-onal Psychology, 24(6-7), 417-520.
  • JOLİFFE, I., T., (2002), Principal Component Analysis, İkinci Baskı, New York: Springer-Verlag.
  • KENOURGIOS, D., ve A. SAMITAS, (2007), “Financial Development and Economic Growth in a Transition Economy: Evidence for Poland”, Journal of Financial Decision Making, 3(1), 35-48.
  • KING, R., G., ve R. LEVINE, (1993), “Finance, Entrepreneurship, and Growth: Theory and Evidence”, Journal of Mone-tary Economics, 32(3), 513-42.
  • KING, R. , G., ve R. LEVINE, (1993), “Finance and Growth: Schumpeter Might Be Right”, Quarterly Journal of Econom-ics, 108(3), 717-37.
  • KOIVU, T. (2002), “Do Efficient Banking Sectors Accelerate Economic Growth in Transition Countries?”, BOFIT Discus-sion Paper, http://econwpa.repec.org/eps/mac/papers/0212/0212013.pdf (01.01.2016).
  • LA PORTA, R., LOPEZ-DE-SILANES, F., SHLEIFER, A. ve R., W. VISHNY, (1997), “Legal Determinants of External Fi-nance”, The Journal of Finance, 52(3), 1131-1150.
  • LEVINE, R., (2004), “Finance and Growth: Theory and Evidence”, NBER Working Paper.
  • LUCAS, R., E., (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, 22(1), 3-42.
  • MEHL, A., VESPRO, C. ve A. WINKLER, (2009), “Financial Sector Development in South-Eastern Europe: Quality Mat-ters”, Financial Development, Integration and Stability, United King-dom,http://www.elgaronline.com/view/1845429672.00020.xml (01.01.2016).
  • MENYAH, K., NAZLIOĞLU, Ş. Ve R. WOLDE-RUFAEL, (2014), “Financial Development, Trade Openness and Economic Growth in African Countries: New Insight from A Panel Causality Approach”, Economic Modelling, 37, 386-394.
  • MERCAN, M. ve İ. GÖÇER (2013), “The Effect of Financial Development on Economic Growth in BRICT Countries: Panel Data Analysis”. Journal of Economics and Social Sciences, 3(1), 199-216.
  • NAZLIOĞLU, Ş. (2010), Makro İktisat Politikalarının Tarım Sektörü Üzerindeki Etkisi: Gelişmiş ve Gelişmekte Olan Ülkeler İçin Bir Karşılaştırma, Erciyes Üniversitesi, Sosyal Bilimler Enstitüsü, Yayımlanmamış Doktora Tezi.
  • OBRADOVİC, S. ve M. GRBİC, (2015), “Causality Relationship Between Financial Intermediation by Banks and Econo-mic Growth: EvindenceFromSerbia”, Prague Economic Papers, 24(1), 60-72.
  • PESARAN, H., M., (2004), “General Diagnostic Tests for Cross Section Dependence in Panels”, Working Paper, 0435, University of Cambridge.
  • PESARAN, H., M., (2006), “Estimation and Inference in Large Heterogeneous Panels with a Multifactor Error Structu-re”,Econometrica, 74(4), 967- 1012.
  • PESARAN, H., M., (2007), “A Simple Panel Unitroot Test in the Presence Of Cross-Section Dependence”, Journal of Applied Economics, 22, 265-312.
  • PESARAN, H., M., ve T. YAMAGATA, (2008), “Testing Slope Homogeneity in Large Panels”, Journal of Econometrics, 142, 50-93.
  • PESARAN, H., M., ULLAH, A. ve T. YAMAGATA, (2008), “A Bias-Adjusted LM test of Error Crosssection Independence”, The Econometrics Journal, 11(1), 105-127.
  • PETKOVSKI, M. ve J. KJOKEVSKİ, (2014),“Does Banking Sector Development Promote Economic Growth? Am Emprical Analysis for Selected Countries in Central and South Eastern Europe”,Economic Research, 27(1), 55-66.
  • PRADHAN, R., P., DASGUPTA, P. ve S. BELE, (2013), “Finance, Development and Economic Growth in BRICS: A Panel Data Analysis”, Journal of QuantitativeEconomics, 11(6), 308-322.
  • REDEK, T. Ve A. SUSJAN, (2005), “The Impact of Institutions on Economic Growth: The Case of Transition Economies”, 39(4), 995-1027.
  • ROBİNSON J., (1952), The Rate of Interest and Other Essays, London: Macmillan.
  • ROBINSON, J. (1952), “The Generalization of the General Theory”, In The Rate of Interest and Other Essays, London, Macmillan, 69-142.
  • SCHUMPETER, J. A., (1912), The Theory of Economic Development, Cambridge: Harvard University Press.
  • SCHUMPETER, J. A., (1934), The Theory of Economic Development; An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle, Çev. Opie, R. Cambridge: Harvard University Press.
  • SOULTANEVA, A., (2011), “Financial Intermediation and Economic Growth: Evidence From the Baltic Countries”, Umea Economic Studies, 187, 1-11.
  • WESTERLUND, J., (2008), “Panel Cointegration Tests of The Fisher Effect”, Journal of Applied Econometrics, 23, 193-233.
  • WINKLER, A., (2009), “Southeastern Europe: Financial Deepening, Foreign Banks and Sudden Stops in Capital Flows”, Focus on European Economic Integration, 1, 84-97.
Toplam 56 adet kaynakça vardır.

Ayrıntılar

Bölüm Makaleler
Yazarlar

Yağmur Sağlam

Filiz Erataş Sönmez

Yayımlanma Tarihi 1 Nisan 2017
Gönderilme Tarihi 18 Mart 2017
Yayımlandığı Sayı Yıl 2017 Cilt: 12 Sayı: 1

Kaynak Göster

APA Sağlam, Y., & Erataş Sönmez, F. (2017). Finansal Gelişme ve Ekonomik Büyüme Arasındaki İlişki: Avrupa Geçiş Ekonomileri Örneği. Eskişehir Osmangazi Üniversitesi İktisadi Ve İdari Bilimler Dergisi, 12(1), 121-140. https://doi.org/10.17153/oguiibf.298769

Cited By












BANKA KREDİ HACMİ İLE İKTİSADİ BÜYÜME ARASINDAKİ İLİŞKİ: TÜRKİYE ÖRNEĞİ
Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
Pelin ÖGE GÜNEY
https://doi.org/10.36543/kauiibfd.2020.017